Anyone who wishes to sell a mortgage note should know its market value so that you get the best deal. Top mortgage notes buying companies in California, such as BGK Investments, can help you ascertain the true value of your mortgage note. Here are the most important things that are considered while buying mortgage notes in California.
TYPE OF PROPERTY
- The type of property held by the mortgage note is obviously the most important criterion. Equally important is the said property’s current market value.
- The interest rate on the face of the mortgage note.
- The prevailing interest rate – Real estate experts at BGK Investments, top mortgage notes buying firm in California, say that increasing mortgage interest rates will negatively affect the market value of fixed-rate mortgage notes.
- The size of the cash down payment made at closing.
- Owner’s equity the borrower has in it.
- The number of monthly payments remaining on the mortgage note. Shorter term mortgage notes are valued more highly than longer term mortgage notes, say experts at mortgage notes buying company, BGK Investments at California.
BORROWER’S CREDIT SCORE
- The higher the borrower’s credit score, the higher the market value of a mortgage note, say mortgage note buying experts in California, BGK Investments.
Make sure that you go to a mortgage note buying company that offers you honest deals. Only a few experienced and reputed companies, such as BGK Investments in California, will help you get the best value for your mortgage note.