Hilton Head Home Loans Today
Recently I was watching one of the cable TV financial shows when Warren Buffet was being interviewed. In the interview he said that we were not likely to see interest rates again this low in our lifetime. Low interest rates are among the reasons frequently sited by many people as reasons to buy now. The other two are low prices and a great selection. Interest rates for Hilton Head properties have trended in tight range between 4.5% and 5% for many months and are about in the middle of this range today. A representation of the rates of one of the area's biggest lenders is given below. Part of my job as a Real Estate Broker is to help you avoid having problems with a lender. This means helping you find the right lender for what you want to buy. Here are two common mistakes that I help Buyers avoid:
- Buyers who do not live in South Carolina often assume that their home-town bank will loan on an out-of-State Hilton Head property. This will not happen unless your home town bank is also located on Hilton Head, or at least in South Carolina.
- Banks do not loan at all locations. It is very frustrating for a Buyer to go to a lender who says that they will do a loan for them but to find out later that they do not loan at the location of the property. This happens with condominiums so remember, for condo loans that the lender must approve both you and the condo locacation. Lenders have condo regimes fill out a 26 point questionnaire for every loan. It's best to use a lender who has already approved the location and has loaned there recently.