DC Fawcett Reviews – 5 Best ways to avoid being denied your mortgage

Mortgage is the only option for many property buyers in real estate market to purchase their desired homes or other properties. You have found your dream home for which you have been waiting for long years with all the money you saved for your life time investment – DC Fawcett Reviews

But if the house has lot of amenities than you expect then it will be costly. Many buyers often contact the listing agent with the intention of purchasing a home but later on come to know that they need more money to buy the property. The only option to proceed on with the purchase is to apply for mortgage with the lending companies.

No worries! Many home buyers are in a same situation as they can’t be able to buy a house with full cash in hand. At such instances they apply for a mortgage loan with lending companies.

Denial of mortgage application

DC Fawcett complaints that mortgage loan denial is the most common problem faced by the buyers! Due to many reasons their application gets rejected by the mortgage companies. According to mortgage banker association every year about one third of the applications are turned down by the lending companies.

How to buy the home then? Relax! Got rejected for the first time! Try again! Here is the list of reasons and their remedies on how to face the mortgage loan denial.

Check whether the property’s appraisal is sufficient for the loan amount!

As per DC Fawcett reviews, many mortgage denials are due to insufficient appraisal of the property. But do not back off if one lender disagrees with your property appraisal. Always consult 2 or 3 lenders before applying for a loan and make sure that the appraisal is sufficient.

Depending upon the companies the appraisal rate varies slightly. You can ask for the review of appraisal with the same lender but it may not result in higher value. Instead you can approach another lender who valuates the property for higher appraisal value. Many a times, the loan gets approved with the second or third lender immediately.

DC Fawcett reviews on source of income

Down payment is necessary for mortgage loans. It is mandatory to pay up to 20% of buying price as the down payment. You have to show the record of consistent source of income in your bank account to lender. You have to be a potential earner and well employed to avail mortgage from the lender.

DC Fawcett complaints that credit issue is another major problem which delays or causes the entire rejection of mortgage loan approval. If your credit standing score is incredibly low then take necessary action to improve it. For example, you can pay your debts on credit cards if you have any and increase the points to certain level. It would take maximum of 2 or 3 months for this score to get impact on your mortgage loan approval.

Approach the small lender at desperate situation

Feeling low that everyone has rejected the loan application? Mortgage denied due to self employment? No worries! Instead of approaching the leading banks, switch over to community banks or small lender who will help you. Some community banks are flexible so that they can help you with the mortgage loan approval even if you are self employed.

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DC Fawcett Reviews – Get started with real estate rehab deal now!

“For a beginner who wants to invest in real estate, rehabbing houses can be a challenging task! Buying a property, rehabbing it by spending your time, work and money and reselling it for full market value can be a long and tedious process. Rehabbing is not so easy task but with little experience and money it can act as a great investment option”. DC Fawcett Reviews

Many realtors who have thorough knowledge on real estate business have turned into rehabber, since it is one of the most lucrative jobs. Learn it for few years and you can have more profit than other investment methods.

Things every investor should know before investing in real estate rehab process!

Location is a very important criterion which has to be analyzed before buying the rehab property. Many realtors often concentrate more on purchasing the property in good location to sell it faster. You can easily identify such location by looking at their prices. If you are not interested in buying a property for higher prices, find properties which are developing rapidly. Such properties will be affordable and also attracts more prospective buyers. Rehabbing and selling such houses can earn you great money quickly!

DC Fawcett reviews on how should I buy the house?

Once the location is decided, make sure you buy the house which has a sound structure. If you are going to buy a house which is not in good structure, then it is going to charge you more. It takes lot of repairs and renovation and empties your pocket easily. While searching the house for rehabbing, you can hire an appraiser who can clearly estimate the cost of home and the renovations needed.

Do not start rehabbing the house until and unless the budget and plan is ready for the job. DC Fawcett complaints that many investors have regretted their decision to buy the house which drains out their money easily. Rehabbing process requires lot of money and you need to have a sufficient capital for that.

Purpose of rehabbing the home

House rehabbing is done for 3 major purposes, which are, personal, rental and flip. Some buyers may purchase a house at a lower market value to rehab it for their personal usage. Its up to the buyers decision to renovate the house with more facilities. The more extensive the job is, the more money it will cost you. But there will be no time restrictions and work pressure while rehabbing the house for personal use

If you are rehabbing the house to rent, then avoid lavish renovations and do what is necessary for the home. You have to do the basic repair and renovations like fixing the faucets, door knobs and painting the roof etc. For flipping the homes, it depends upon your budget and the target buyers.

DC Fawcett complaints on hiring a inefficient contractor

Hiring a contractor to fix up and renovate the house can be extremely time consuming if you have a very short deadline. Do not hire one without analyzing his past work since there are many fraudsters. Refer to the well known real estate agents in the city and the hire an experienced one. Instead of paying the individual workers, you can hire contractor who can take care of all the repair works.

Check whether they have adequate time on their schedule to complete your project since many contractor are always busy with their jobs. You cannot make your house sit in the market for so long and sell it faster.

Bottom Line

Rehabbing is not task that can be handled by a single person, so it requires the perfect team work and you are the one who is going to lead the team. Time consumption, unnecessary expense avoidance and speeding up the work are really important when it comes to rehabbing the house. Marketing the rehabbed house is equally important to fine rehabbing and doing it right will sell the house faster.

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DC Fawcett Reviews On Things Every Buyer Should Know

DC Fawcett reviews on the step by step process of house buying,

• Search for reliable real estate property listing and make note of the properties which you feel worth of buying. Sometimes there might be changes in the selling prices, keep track of those and also watch for number of days the house sits on market
• You can hire a realtor who can ease the process of your home search, they have a large database of available real estate properties in local market and can offer you number of details easily
• While searching for your ideal home, make sure that it comes under your affordability. DC Fawcett complaints on many buyers who gone beyond their buying price and ended up with foreclosure
• If you have to go for mortgage then submit the details to the lender or banker and they can tell you whether you are qualified for mortgage loan
• You can even apply for a home loans from banks which offers lower interest percentage
• Once your research is completed, start walking through many homes until you find the ideal one which satisfies you both financially and emotionally

Watch your neighborhood!

This may seem to be inessential but it is really important to know about your neighbors and environment before buying your home. Your home is where you are going to live your rest of your life, hence spend some time to find a desirable neighborhood. The good place with calm and serene environment can change your way of living. If possible search for the records of crime rates of the place as DC Fawcett complaints that many locations have higher crime records than average.

Inspect the house before purchase!

Do you really want to hire a home inspector to your house before purchase? Yes! You might have carefully walked through the home and checked it thoroughly, but there are some flaws which cannot be identified by us. For example, if the house is structurally damaged it can be easily identified by the good home inspector. If you are buying the rehabbed and flipped house, then you have to hire a experienced inspector who can check whether the house has been rehabbed properly.

DC Fawcett reviews on appreciation value of your home!

You cannot predict the future of the real estate market, but you can keep update of current market trends and find the appreciation value of your home. Before buying the home, find the comparable homes in your neighborhood and know their prices. This can help you to find the appreciation value of the property.

Be extra cautious while doing the paper works!

You may have to go through lot of paper works while buying home! If you have hired a realtor then he will take care of everything. If you are buying on your own then you have to take care of all the works. Verify the title insurance and other details about the seller and make sure that he owns the house in a proper way.

While closing on the deal you have to sign all the documents, after the thorough analysis of all the papers, give your check to the seller. All set to move into your new house!

Conclusion:

DC Fawcett is a real estate entrepreneur come trainer, helping all real estate fervents to achieve their goals by means of his seminar and camps. In addition, he also teaches how to develop a real estate business and produce different income streams.

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