Financing hints for buyers

A few hints for buyers who need to finance a real estate purchase. -Obtain a recent credit report and review it with a mortgage specialist. There may be ways to raise your score prior to applying for a loan. -Increase the down payment. Since risk-averse lenders are avoiding conventional 95 to 100 percent mortgages, an applicant who can make a 10 to 20 percent down payment is much more likely to be approved. -Be prepared to verify income and assets. It’s far more difficult to obtain “no-documentation” or “low-doc” loans today because of stricter underwriting standards. -Apply for a government-guaranteed loan from the Federal Housing Administration (FHA) or U.S. Department of Veterans Affairs (VA). These loans can finance up to 100 percent of the purchase price. For information about Ormond Beach and Ormond By The Sea Florida homes and condos for sale or rent, contact Ocean View Realty Group or visit our web site at http://www.ovrealty.com/. Marion O’Connor is our sales specialist – ovforsale@aol.com Deanna Thomas is our rental specialist – ovrentals@aol.com Ocean View Realty Group 1350 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at www.ormondbeachcondorentals.com