We have just been given the green light from a lender that is offering nationwide financing. The best rates and terms will be for those with a credit score over 760 and can put down a minimum of 10 to 20%. The rate starts at 5.49% and it is a 10 year term. They can extend the term to fifteen years, the payment will be lower, but the interest rate would be higher. The lender will work with lower credit scores as well and views the whole picture of a client and their ability to pay.
Nationwide Financing Loan Options
We will take each customer, case by case and the lender can do consumer loans, commercial and possible home and land packages. They will not loan on shells.
Equity Line Of Credit
An equity line of credit is often one of the best ways to finance your cabin. I have several banks and credit unions that keep in touch with me and let me know when they have specials on their rates that often start as low as 3.50% . It is always best to check with your own bank that you have an ongoing relationship with to get the best rate.
Tips To Improve Your Credit
Do not use more than 30% of your credit limit
Monitor your credit with Credit Karma ( though score is not accurate) Website
Do not close unused cards
Pay your bills on time
Avoid too many inquiries
Apply for new credit only when you have to
Dispute any inaccuracies ( Credit Karma is a great resource)
Keep a low debt to income ratio