Before approaching private money lenders,you must acquire
your complete credit report. This credit report is important for mortgagees and
lenders as it gives them an idea of your current financial position; and based
on your credit report they can devise a loan plan for your investment needs.
The report usually reflects upon the following aspects of your finances:
·
The
mortgagee will immediately know about your payment history; your timely
payments of utility bills and taxes will leave a good impression on your
lender.
·
The report
will reveal whether or not you owe money to other lenders or banks. Your debts
may include student loans.
·
The bank
will also realize your credit card history and whether you have applied for new
credits from the bank or a credit union.
A good
credit report will help you secure a loan at a competitive interest rate. The
independent investment firms in the Bay Area know the real estate market well
and guide you through your investment process. They not only identify the right
property to invest in but also provide funds.
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