Spokane Home Loans Spokane Mortgage

Hard Money Loans in Spokane

Private Money loans in Spokane (or otherwise know as "Hard Money Loans" Can be a the only way out of a terrible situation for some borrowers. Life happens and sometimes it can lead to unavoidable credit problems. A loss of job, or medical issues with lack of health insurance are common with Credit challenged people all over this great country. We all at least know someone that has been in just such a situation. It can be a frightening time for people and we can help.

If you have equity in your home, and your credit is poor, a hard or private money loan might be a way out. The Interest rates with hard money loans are usually very high (around 12%) and fee's are around 4 to 6%. But if you can pull enough cash out to work a Credit Plan, you could get back into a conventional loan in a matter of months. We have credit simulators that allow us to project what we can do to improve credit scores and how long it will take. Visit our website at Spokane Mortgage or call Scott at 509-951-4615

Hard Money loans are now only going to about 65% Loan to value and investors are becoming more and more cautious as this market continues to decline.

When it comes to getting a Mortgage Loan in Spokane or anywhere for that matter, Credit Score is the driving Factor. There are other Factors at play but I will save them for another blog post :)

A logical person would think (at least I did) that by paying of collections and judgements that credit scores would improve... They dont! Not even a 1 point for paying of 5 different collections and 1 judgement. I do believe people should be responsible for their debts and pay them off anyway, but if your trying to improve your score quickly to qualify for a better rate it's not the way.

A quick and easy way to improve your score in as little as 2 or 3 months (Assuming your working and have some money):

1. Forget about paying collections and judgements ( you can work on that after you raise your score)
2. Take a $1000 (500 will due if that's all you have) to your bank and tell them you want a secured Credit card. They will put the money in an interest earning acount, and give you a credit card for it. Use this to buy a tank of gas here and thier and pay it off at the end of every month.
3. Get and Keep all the rest of your bills current.(especially your mortgage)

Those three steps will do it. I have seen this work without fail and have been AMAZED at the quick results. Step NUMBER 2 is the Most important. The credit buerous want to see that you have credit that you are not using. I hope this helps some one that needs it.

If you Need a home loan in Spokane Call Scott at 509-496-2593 I can also help with your credit) or apply online at Spokane Home Loans Need a Spokane Real Estate Agent ? clickon the link :)

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If your thinking about moving to Portland visit Mortgage Portland to find a Realtor or a mortgage in Portland Oregon.

Downtown Spokane has undergone a major rebirth in recent years after the completion of RiverPark Square mall.The heart of our cityis at an elevation of about 1,890 feet (576 m) above sea level, while the rest of the city varies by nearly 1,000 feet (300 m). Downtown Spokane lies along both sides of the Spokane River, at an elevation of about 2000 feet. Downtown Spokane is also very pedestrian friendly with wide, wheelchair accessible, sidewalks, pleasant weather and beautiful landscaping. In all over 500 projects worth over $2 billion dollars are taking place in the downtown area.

It's a great place... check it out. The downtown core of Spokane is alive with arts and culture, shopping, dining, and warm friendly people. It has a 100 acre park park downtown and held expo'74. The Spokane River runs through our downtown with spectacular falls on the western end of our city core. If you need any real estate there or anywhere in Spokane visit Spokane Condo Sales

Liberty Lake WA is a great place to buy! With 3 Golf courses, a beautiful lake, and tons of hiking and wildlife, this is a place you might want to check out. It is a short drive from Spokane, and has the great outdoors as well as plenty of shopping amenities. for information on Liberty Lake Real Estate visit the link.