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Old house for Improvements
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Arleen Perez
Posted: 07 July 2016 05:29:49(UTC)
#1

Joined: 04/04/2016(UTC)
Posts: 10
I got this house for a long time already. I was thinking lately to make some improvements because it was already old and about 10 years since I purchased it. Actually, it has not been repaired yet. Anyway, I want to know exactly its depreciation value and how banks would assess it if I would apply a loan for renovation. Its actually a 120 sqm. single attached house and lot. Do you have any idea about a lending company that that gives a good interest rates? Any experience in applying for a housing loan and the amount they lend you?
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Annika Small
Posted: 08 July 2016 03:49:30(UTC)
#2

Joined: 08/07/2016(UTC)
Posts: 2
It's quite a small property and depends on your location. Just be cautious on choosing the right lending company, compare rates from several mortgage lenders and read the fine print before signing anything.
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Arleen Perez
Posted: 08 July 2016 13:33:57(UTC)
#3

Joined: 04/04/2016(UTC)
Posts: 10
I saw an advertisement posted on the street. Got curious and checked the name "mortgage rates california".

Fortunately, when I checked this online, it seems the company has good offers. Anyway,I am hoping you can help me double check if the company is reliable. TIA
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Alan Selwood
Posted: 08 July 2016 22:40:41(UTC)
#4

Joined: 17/12/2011(UTC)
Posts: 3,379
Which country is the house in?

If the mortgage firm is based in the USA, it won't be much help in the UK or the EU, for example!

If you want anyone to commit themselves to giving detailed opinions, you need to give detailed information.
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AnnLop John
Posted: 07 September 2016 03:31:44(UTC)
#5

Joined: 06/09/2016(UTC)
Posts: 4
Can we get any mortgage without any down payment?
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Maz Smith
Posted: 19 December 2016 17:16:23(UTC)
#6

Joined: 19/12/2016(UTC)
Posts: 6
i'm aware of 'doer-uppers' and the importance of positioning any borrowing very carefully

definitely get professional help - more than happy to give my FA's details if you want

100% lending does exist but make sure it's right for you

lender will assess the property as it is at the moment, as that is their security
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