Galveston Real Estate and Loans

Galveston Real Estate and Loans

Just a few tips on getting mortgage loans on Galveston Real Estate...

People often tell me that buyers can't get a mortgage these days.

I can tell you that is absolutely not true!

Mortgages are readily available, even on seemingly hard to finance properties. Conventional loans, FHA, VA, HOMESTEPS, HOMEPATH, Investor and Second-home loans are available on condos and houses in Galveston.

Many of the Galveston condo developments won't qualify for conventional loans if they are more than 60% investor or developer owned. There are bank loans that can be had as an alternative.

Be sure to ask me about this if you are an investor/second-home purchaser and want to buy into a popular development.

Many times I can refer you to a lender with a good loan package and good rates. On First-time buyers there are incentives and low down-payments with FHA.

Also:

First Time Homebuyer Program with the City of Galveston:

First Time Homebuyer Program The City of Galveston, through its Homebuyer Assistant Program (HAP) will provide eligible residents with $5,000-$14,000 in Home Investment Partnership Program funds to assist with downpayment, closing costs, and gap financing toward the purchase of their first home. (*Must be primary residence)

Eligible homebuyers must meet HUD#8217s income requirements; be a legal resident/citizen of the United States; be able to qualify for a mortgage loan; complete an eight-hour homebuyer education class; the selected home must meet minimum property standards and be located on Galveston Island.For additional information on the Housing Assistance Program, please contact the Grants and Housing Department at (409) 797-3820

Whether it's a condo or beach house or historic home, there are plenty of loans available!

I would suggest speaking with your bank and also contacting an experienced lender that I've worked with on many Galveston property purchases.

* Be very careful of using online lenders. Some are disreputable and misleading and don't trust the rates unless you have a written pre-approval letter. Always go with a lender you can trust and one familiar with Galveston specific real estate is almost imperative.

For information on finding the right loan for your Galveston Real Estate purchase and pre-approval, email me anytime with questions or call me: 409.526.7959.

There's a loan for YOU!