Some cool chateau pictures:
Château de Boursheid
Image by Marc Ben Fatma – check out Benymarc.com and like my FB
Château de Boursheid
(Castle of Boursheid )
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Question by Danielle: What’s the best place/way to apply for a home improvement loan?
I inherited a home that seriously needs repairs. I don’t have great credit though and would like to apply for a low interest home improvement loan, sick but have no idea where to start. I do have access to a credit union. Thanks!
Best answer:
Answer by cafalldavies
Bad credit is going to be your #1 problem, but if there is equity in the home you can borrow a Home Equity Line of Credit against it. Most commercial banks/credit unions will allow you to set up autopay on it so you don’t even have to think about making the payments… which is really good because if you don’t pay, you could lose the house.
For most commercial banks you will need a minimum 680 FICO score or a cosigner with a higher score to get a home equity line, but credit unions often have lower standards, so you should check with your credit union.
What do you think? Answer below!
Question by Nelson: How do I become a mortgage broker or mortgage agent in California?
I am fresh out of a college. Not just any college; a community college. And I need step by step how to become a mortgage broker or mortgage agent please. Thanks alot.
Best answer:
Answer by nostalgia80
Get a job at the Mortgage Broker Office.
at first, this site you’ll just answer phone calls and all, but eventually, you’ll either be a processor or agent.
Know better? Leave your own answer in the comments!
Are you sure thats a business you want to go into? Your entering a very tough market were people are leaving the business and not entering it because its so tough.
You have 2 options available to you. First option is to go work for a direct lender as an originator. This will allow you to get to know the business and you will work under their DOC license. If licensed under the DOC then the individual employees do not need to be licensed.
Second option is to go to work for a Broker. To be a loan officer (originator) you will need to enroll and complete a real estate princiapals course, then schedule with the Department of Real Estate for your sales persons license exam. Once you pass and pay the state their due you will then have a real estate license. This will allow you to originate loans and represent buyers and sellers in Real Estate transactions.
The above poster is correct in pointing out that the market is difficult right now. Many lenders and brokers are closing their doors due to slowing in the industry. However, people are still buying and selling homes and there will always be a need for agents and loan officers.
Best of luck to you!
Kevin 949-375-2380
kruorock@sbcglobal.net