Hampton Roads Foreclosures can be an extremely valuable resource to all types of prospective borrowers when financing a property is being considered. Because of our years of experience in the real estate and mortgage industries, we can give you the information that will help you obtain the best method of financing for you.

The information that you are unable to obtain from lenders, you can get here. You see, banks use a risk management scale that compares your credit score and the Loan to Value (LTV) on the loan amount. These two characters are usually used to determine your interest rate.

A system utilizing your personal credit score is the system that drives the residential mortgage industry today. The credit score is created by three major credit bureaus, and is determined by how well you pay your bills and the amount of available credit that you have. Can you control your spending and pay your bills? Do you have fiscal responsibility?

Scores range from 300 points to 800 points plus for individuals. The higher the score, the lower the interest rate.

Did you know that if you don’t have good credit, there are still funds available to purchase and/or fix-up properties for resale?