Owning a home is part of the American dream. Because few people have the financial resources required to pay for the purchase of a home in cash, real estate transactions typically require a residential loan. There are many different types of residential loans that help potential homeowners access the financing needed to purchase the property of their dreams. 1. Investment Property Loan Some of the residential properties that are purchased are not intended to be an individual's primary residence.
- If you're going to be purchasing a new home in the next year, now's the time to start preparing for the loan process. You might not realize this, but what you do in the upcoming year will have a direct effect on your home loan. Some of your actions will have a positive effect on the loan process, while others could cause a serious snag for you. To help you with potential pitfalls in the loan process, here are three tips you should follow.