Financing for Your MN Property Investments
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Many people are familiar with loans that require zero money down, however, these are by-and-large a thing of the past. Although they were widely-popular before all the lending reforms... During that time there were also people getting a lot of loans, but did not have fixed interest rates. |
They had loans, where the borrower did not have to prove how much income they are claiming. These were a wonderful thing - when they were used correctly. Unfortunately, many people over-borrowed and then could not keep up with there payments. This led to an alarming-rate of foreclosures in this country, many still going on today.
Because of this, unfortunately many people were hurt financially. They either made bad choices, received bad advice, or a little of both. As a result, this nation has tightened its lending laws (each state being a little different from each other). Many people previously doing creative financing are now finding themselves charged with lending fraud.
So when you go to get a loan today, you will find the loans available to be much different than the loans available five years ago. Luckily, interest rates are still favorable, and people with good credit scores can still get lending with very little money down! 
Contact me if you would like a few good references for investment property lenders.
