Buying REO – $1,000 Closing Credit
REO often present buyers with a terrific opportunity – to get into a home for a very good value. However, because of their very nature, these transactions can sometimes be complicated and, therefore, require a lender who is very knowledgeable and experienced in this specific market niche. They also must have the products, resources and knowledge to make these mortgage loans happen.
Fay Mortgage Services: A different kind of lender for a different kind of buyer
Because REO are often perceived as an excellent value, they can be attractive to people for different reasons. If you’re a first time homebuyer, perhaps lacking a sufficient credit history, you might view these properties as a good way to dip your toe into homeownership. At the same time, if your credit score is not as high as you’d like, you might believe that a REO is your best path to buying a home. Or, you may be considering one of these properties as an investment that could make you money down the line. Whatever your reason, you should partner with a lender who possesses the unique qualifications required to finance REO…you should partner with Fay Mortgage Services.
Your REO Lender
At Fay Mortgage Services, making mortgage loans to people purchasing REO is our specialty. We are uniquely qualified to serve this market because we’ve been servicing these types of mortgage loans for over 8 years. We understand the risks and rewards of purchasing REO, and have the knowledge and resources to make these mortgage loans happen. So, when you choose Fay as your lender, you can rest easy knowing the transaction will progress smoothly and quickly through closing and beyond.
Getting Pre-Qualified: Your ticket to home ownership
Fay Mortgage Services requires every potential buyer of a REO to be pre-qualified for a loan by us. We do this to establish you as a financially capable buyer up front. However, you are not required to obtain a loan from us to buy a REO. Our expertise, as the servicer of these loans, enables us to operate with more flexible underwriting standards. We evaluate each and every prospective borrower based on his or her own particular circumstances and we’ll always focus on your individual needs. To get pre-qualified, click here.
Get a $1,000 Credit Toward Closing Costs
Establish yourself as a financially capable buyer by getting pre-qualified with Fay Mortgage Services now. Once you do, you’ll be able to take advantage of the $1,000 credit toward closing costs for whatever home you eventually purchase. To get pre-qualified, click here.