Mortgage Update

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Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
RECENT BLOG POSTS
Here is a current investment summary. As always, a quick response is needed. Please let me know if interested:     Mortgage-secured fix-flip investment. Purchase and renovation of 3-family property.  Location: NJ 07111 Estimated project time: 4 months Funding requirement is for $80,000, or 39% of...
07/08/2011
Keep your eyes on alternate financing options. There is now a clear trend. Two types to keep your eyes on: Portfolio loans, and mortgage-secured investment (investors who will provide financing and get interest PLUS profit share, mostly for fix and flips). - Paul Buyers bypass the traditional mor...
06/28/2011
FHA, Conventional, or Portfolio? Today I worked out the options for someone, and I thought I'd share it with you. With the increased cost MI, porfolio can make sense! (See below). /// Portfolio loans are now also available for investment, 1-4 unit properties. Great! /// HomePath is extending buye...
06/14/2011
This market's for you!  Low prices, low interest rates, great cash on cash returns - whether home-buyer or investor, this market's for you!  What's holding us back is groupthink ("it's a bad market, and we all agree on this"), and fear to think outside the box. I provide mortgage financing, and m...
06/11/2011
There are two types of financing to keep an eye on:  Portfolio loans that offer unique, common sense lending criteria. (Last week I told you about pledged asset loans and no PMI, both to 90% LTV). There are many developments on the horizon that may have a drastic, positive impact. Stay tuned. The...
06/05/2011
The pendulum is still swinging towards more irrational, over-the-top caution. The absence, or lack of application of lending rules that caused the problems, have been replaced by excessive rules and procedural changes that limit the recovery of real estate. The constructive efforts of the legisla...
05/29/2011
In 1843, my favorite magazine, The Economist, said we have "a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress" This couldn't be more timely if it were written today - and about our real estate market.  There are a lot of people...
05/22/2011
Mortgage flip rules do not need to nix any sales! Just make sure you verify the lender's rules and be prepared for some additional processing requirements. See below. /// Qualifying income and a 640 score are no longer enough. I actually think it's good news. See below. /// Make it a good week fo...
05/15/2011
We offer Homepath renovation loans. Prospect is a national Top 5 lender for FHA 203K loans and Homepath loans. We now also offer the Homepath renovation loan. See below. /// I am still waiting for the launch of a new construction/rehab program. Without it REO rehabs remain super cheap, and also t...
05/07/2011
Fix and Flips is where the money is. And not the risk!Check out my online presentation at the LX Financial website. It makes the case for it, and it shows you how you can take advantage of it as low-risk investor, realtor, developer, end-buyer.  /// Rate are down a bit, and that's not a bad thing...
04/28/2011
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Paul Luykx

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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.