Walnut Park, CA Real Estate News

By Eddy Martinez
(Nationwide Funding Group)
Under the Fair Credit Reporting Act , a person who has been denied credit, housing or employment may receive a free copy of his or her credit report by contracting one of the credit reporting agencies directly. Qualifying the PropertyThe lenders first line of defense in getting repaid on the loan is the borrower`s creditworthiness. But the underlying security for the loan is the property. With this in mind an accurate valuation of the property is important. The lender will require an appraisal to determine fair market value of the property prior to making a loan. Once the appraised value is determined, the lender will calculate the loan amount. Most lenders prefer a loan-to-value ratio. An 80 % loan usually requires the borrower to make a 20% down payment. Loans made will less than a 20...
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