Obtaining a real estate loan
What will I need to provide a bank in order to obtain a loan to purchase real estate?
Loan applications vary, but here are a few basic elements you should expect to provide:
- Your personal financial position, including credit history, tax returns
- Your experience, financial history and tax returns
The real estate
- An inspection, current appraisal, etc.
The financial elements
- How much down payment can you make?
- If for your business, how will the property contribute?
- If for investment, when will the property have positive cash flow?
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