What are consumers thinking about the recent cut in interest rates? Should the average consumer expect a cut in their mortgage? They may be disappointed if they think they’re in for immediate relief. The jury is out and market experts have indicated that just because the Federal Reserve Board has cut interest rates does not mean that mortgage loan rates will see the same drop. On the other hand it may be a sign that rates will drop over time.
I think you will agree …
Funding loans has become a challenge, especially now that the number of qualified prospects has seemingly dwindled. For this reason alone, brokers and loan officers are leaving the mortgage industry in record numbers.
Banks, private lenders and credit unions are traditional mortgage lenders. Banks and private lenders are almost the same, with the profit being the primary motive. Credit unions act in the best interest of the members and should be trusted more. Because the profits earned by a credit union are meant for the benefits of the members therefore, the lending rates in the credit unions tend to be lower. However, not everybody is a member of a credit union and not all private lenders are bad.
There are numerous significant distinctions between commercial real estate investing and residential real estate investing. Of over 20 major commercial loan differences, several important issues will be covered in this business financing article and other commercial financing elements such as SBA loan refinancing will be described in additional reports.
