Lending / Financial

Buying real estate is even more challenging for those of us whose eyes glaze over at the mere mention of decimals, percentages or anything else that even hints of mathematics.


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Trending blogs on Lending / Financial
By DEANNA C. SMITH CERTIFIED MOBILE NOTARY, Highest Ranked Certified Mobile Notary in Virginia
(Certified Mobile Notary Signing Agent)
My name is  DEANNA EARLY  and I am the Mortgage Loan Originator for Franklin County, Virginia and the surrounding areas including the unincorporated areas of Roanoke County.   I have over 30 years in the mortgage industry creating and closing Virginia home mortgage loans and refinances.   I am Nationally Licensed ( #268590 ) by the NMLS.I do refinancing for existing homes anywhere in the state of Virginia.   If you are thinking about refinancing your home, there are many questions and considerations to think about BEFORE  proceeding.   Contact me so we can sit down and go over your various options together to formulate a plan.Are you looking for cash out for a major purchase or are you needing a small amount of money for a project around the house that a home equity line might be better...
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By Helene Kelbaugh, REALTOR, Internet Marketing Specialist, eXp Realty
(eXp Realty)
The 6 (Not-So-Simple) Steps to Securing a Home Loanby Helene Kelbaugh of Keller Williams Legacy MetropolitanLet's Chat!  Sellers & Buyers: (443) 465-8443 Schedule AppointmentFrom the word "mortgage" to the methods used by lenders to determine how much to loan, the home loan process can be confusing to first timers. In fact, one third of the respondents to a 2011 Wall Street Journal survey of homebuyers said that the most difficult part of buying a home was understanding the loan process.It can also be quite stressful, especially when you've got your eye on a cute Craftsman bungalow and are waiting on pins and needles to learn if you qualify to purchase it.Let's take a look at the conventional home loan process, from start to finish. Here's a breakdown of the process in six steps to help...
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By Rateswire.com Rateswire.com
(www.rateswire.com)
  The Obama Administration's Loan Modification program will provide a reduction in the mortgagea loan payments of thousands of Cheney, Medical Lake, and Davenport, Washington homeowners. Monthly installments will now be equal to or less than 31% of the gross monthly income of the household (including taxes, insurance and homeowner association dues). Cheney, Medical Lake, and Davenport, Washington homeowners should immediately see if you qualify for the Obama Federal loan modification plan, and learn how to calculate your debt ratio yourself. It is very important to know the requirements for qualifying for President Obama's Loan Modification Plan. The best chance of getting approval begins with the knowledge of the loan modification process and how to prepare the proper paperwork.     Lo...
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By Rateswire.com Rateswire.com
(www.rateswire.com)
  Obama's Loan Modification Plan is now helping Bremerton, Port Orchard, and Gig Harbor, Washington homeowners continue with their payments so they don't lose their home to foreclosure. The Obama Federal loan modification program was put into place to provide lower mortgage payments to homeowners who can qualify for approval.  Ultimately, the Obama loan modification program will provide a reduction in the payments of your mortgage loan. This means that the monthly installment will be equal to or less than 31% of the gross monthly income of the household including taxes, insurance and homeowner association dues. Bremerton, Port Orchard, and Gig Harbor, Washington homeowners can now Pre-Qualify for the Obama Loan Modification Plan in order to explore their options, understand how the appr...
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By John Verdeaux
(Keller Williams Realty, Knoxville-West)
Question:  Do I qualify for the HAFA Short Sale Program? Answer:  Call me and I can let you know! Hah!  In all seriousness, this is a bit of a loaded question because a borrower has to meet several criteria in order to qualify for the program.  MOST of the top lenders and mortgage holders do participate in the program and it can be a great option for someone who is trying to avoid a foreclosure, especially with the new qualification parameters.  Prior to these new parameters, the biggest reason our clients were not getting approved for HAFA was because they did not meet the required debt-to-income ratio.  As of 2/1/11, they have done away with this which has resulted in several of my clients now getting in the program.  The property being a primary residence, or at one time a primary re...
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By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
No Income, Verified Asset (NIVA) Loan for Investment and Owner-Occupied Properties.  680 mid FICO, SFR's, 1-4's, Condos and PUD'sTerms: 15 year fixed, 3, 5 or 7/1 ARMs in the 4s.Purchase: 70% LTV to 2M, up to 100% of the down can be giftedRefinance: 65% LTV to 2M Cash out: 60% to 1M, 50% LTV to 5M. Reserves as low as 6 months. No CPA Letter needed with 18+ months reserves.New on the Job or Business OK.Employer and income to be left blank on application with 18+ months reserves.Less than 30 days to close. No maximum number of properties financed or owned.No maximum acreage on non-agricultural properties.Foreign national ok, no Social Security or US status needed​Available: CA, NV, WA, TX, GA, IL, MA, MD, NJ and NY. Fees: Negotiable
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By David Bailey and Erika Bailey, "Creating Clients for Life" Cell # 631-589 3600
(The Mortgage Outlet NMLS # 36861)
Low Mortgage Rates in Holbrook NY Flat Rate Mortgage Broker  Flat Rate Mortgage Broker, The Mortgage Outlet, shocks the industry with rock bottom mortgage rates for Holbrook NY. That is right you pay just one flat fee and no other garbage fees like processing, application, doc prep, lock in or any other fee that increase your closing costs. Learn More about how this program flat rate program can save you thousands of dollars in closing costs. Benefits to all borrowers whether you are buying, or refinancing is:Cheaper Mortgage RatesCheaper Closing CostsFast Automated Mortgage ProcessOver 30 Years’ Experience in industryWorks for the borrower best interest always30 Day closing are available, if you qualify      The Mortgage Outlet is pleased to offer some of the lowest mortgage rates in H...
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By Dennis Dahlberg Broker/RI 623-582-4444
(Level 4 Funding )
Simply put private money lending allows you to act as the bank for other investors.Rather than directly purchasing assets, you get the opportunity to fund those owned by colleagues and partners. By now you likely realize how beneficial this set up can be. However, there are a few more things you should know before getting started. Read through the following tips before taking on your first deal as a private money lender:Start Out Small: Identify a range you are comfortable working with, and stick to it. The number one mistake private money lenders make when starting out is spreading themselves too thin. Assess your finances and your preferred level of risk and create clear guidelines for potential projects. If someone approaches you searching for more than you want to offer, do not be a...
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By Dennis Dahlberg Broker/RI 623-582-4444
(Level 4 Funding )
Investing in real estate is essentially one of the smartest and safest strategies to promote wealth building.While a portion of profits will undoubtedly be allocated to the lifestyle of their choice, investors are advised to be smart with their money. Of course, you can reinvest into another property, but if you are looking for an alternative there may be one option you have not considered yet: private money lending. Investors who have the funds to do so should consider private money lending in real estate. This process offers the same type of underlying security and profit potential as rehabbing or wholesaling, but without acquiring new properties.What Is Private Money Lending?Private money lending is when individuals lend their own capital to other investors or professionally managed ...
Comments 2
By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
Private Money Loans for Owner and Non-Owner Occupied properties.Commercial and Residential Loans for purchase or refinance up to 80% LTV.Terms: 1, 2, 3, 4 or 5 year loans amortized for 30 or 40 years.Rates from 7.99% and 2 points.NO minimum FICO score required.Choose a pre-pay period.10 day close of escrow in CA.Investor Loans, REO financing, Interest only available. Any amount of properties allowed. Interest reserve optionsUnlimited Cash out. In Bankruptcy or Foreclosure rescue OK.No title seasoning required. Available: Nationwide.2 points in the transaction.
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By Lisel Sutter, EA, Tax & Financial Services
(Sutter Tax, Financial & Insurance Services Inc.)
Tax Surprises for the Newly Retired
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By Karen Schimpf, When Your Bank Says No, I CAN Get Your Deal CLOSE
(Commercial Capital Ltd.)
Small Balance Stated Income Loan cc: by:https://flic.kr/p/4yAmDD   SMALL BALANCE STATED INCOME LOAN ARE BACK!     We can do small balance stated income loan for commercial investors and business owner occupied deals with NO Tax returns required to underwrite the deal!      credit scores as low as 600 LTV up to 70% Loan balances as low as $100,000 up to $1.5 Million cash out allowed!   For the small balance stated income loan, the key is the collateral, the property must work. We can do the main property types (Office,retail, multi-family) but ALSO hotel/motel, day cares, auto repair/auto body, hair salons, Mobile Home Parks, bar/restaurant and storage units. HUGE. As more and more lenders come back to the market, I will update you and of course, help get your deals closed. At Commercial...
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By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
O/O + N/O/O 1 day ownership seasoning OK SFR 1-4, Condo’s,PUD’s (Warrantable Only ((Freddie-Mac Guidelines)) County Select Income is not verified by any means No Minimum Fico Required Foreign National Borrower’s OK – Passport Only Minimum 1 Year out of Bk, FC, SS 1×60 Allowed in Past 12 Months Collections over $5K + All Tax Liens + Charge-Offs must be paid at closing No Max Properties Owned/Financed Base Employee Income must be stated at 45% max DTI and Borrower must be same employment for a minimum of 2 yrs. Not verified.Reserves: 18 months reserves with VOD addressed to borrower reflecting current balance when Borrower owns at least 1 other property than Subject. 60 months reserves with VOD addressed to borrower reflecting current balance when Borrower does not own any other properti...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reports included readings from the National Association of  Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released. NAHB: Builder Confidence in Housing Markets Increases in JulyHomebuilders gained confidence in housing market conditions as home buyers sought homes in less-congested suburban areas. Builder confidence rose 14 points to an index reading of 72 in July. NAHB Chair Chuck Fowke said, “Builders are seeing strong traffic and lots of interest in new construction as existing home inventory remains lean.”Homebuyers sought larger homes to accommodate work-at-home needs and also fled from urban congestion posing hazards due to C...
Comments 0
By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
24 Month Bank Statement Averaging, 1 Year Taxes or Asset Amortization Loans for Business Owners or Employees. Self-Employed for the last 2 years: 1 year Taxes or 24 months bank statements.Employees: w2's and paystubs only for Primary Residence  3, 5, 7 and 10/1 ARM's, 15 and 30 year fixed. Rates in the 4s. Owner-Occupied, 2nd homes and Investment properties, SFR's and 2-4’s.Loan to value up to 80% for a purchase, rate and term or cash-out refinance up to 3M.Minimum FICO 620. ​Qualifying: Using the Borrower’s last 24 Business bank statements, the net deposits are averaged over 24 months that figure is used as the qualifying income with 45% DTI based on net deposits and debts on the credit report and with the new mortgage. Proof of 12 months PITIA reserves for the subject property seasone...
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By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
Home Equity Line of Credit (HELOC) No Income Verified-Verified Assets (NIVA) NO TAXES NEEDED Owner-Occupied, Non-Owner Occupied and Second Homes, SFR's, 2-4's and Condos.Over 700 FICO needed, first 6 months starting at 4.29%. Loan amounts from $150,000 - $1,000,000. Up to 70% LTV to $1,000,000 loans outstanding (including new HELOC)Starting at .5 floating over WSJ Prime in 1st position.1.5 floating over WSJ Prime in 2nd position or paying off liens.Lower your rate by up to .50% (with autopay, new account and 50K+ intial draw)10 year draw period, 20 year amortization.Must provide proof of at least 6 months of PITIA reserves with a CPA Letter.No CPA Letter needed with 18+ months reserves.Available in all Counties of: CA, MA, MD, WA, IL,TX, NV, NJ and NY. Fees: 2.5 points + $995 processing...
Comments 0
By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
Alternative Documentation 24 Bank Statements  24 Month Bank Statement Averaging or1 Year Taxes or Asset Amortization Loans No Taxes, w2's or executed 4506T are required. Minimum FICO score is 600.  3, 5, 7 and 10/1 ARM's, 30 year fixed. Owner Occupied and Non-Owner Investment properties, SFR and 1-4’s. Loan to value up to 80% for a purchase, rate and term or cash-out refinance to 4M. Interest only payment available.  Qualifying: Using the Borrower’s last 12 bank statements, we average 100% of deposits, draws and wires and use that as the income to qualify at 45% DTI based on deposits and debts on the credit report. We need proof of 9 months PITIA reserves for the subject property seasoned in the bank for 60 days on Owner Occupied and 12 months’ reserves on all debt on Non-Owner properti...
Comments 0
By Nick Good, www.TheGoodHomeTeam.com
(The Good Home Team with eXp Realty)
Have you been asking yourself "Should I Refinance My House Now?" then you are in luck as Nick Good Top Dallas Realtor with The Good Home Team at eXp Realty interviews Texas loan officer, Michael DeBacker "Mortgage Mike"  Michael DeBacker shares with us that interest rates currently (as of the first week of Febrauary 2020) are at 3-year lows and he is seeing a lot of homeowners lower their mortgage interest rates by close to 1%.  
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By Dennis Dahlberg Broker/RI 623-582-4444
(Level 4 Funding )
Understanding the basics of hard money lending represents the first step of breaking down real estate financing. Hard money loans are, after all, a real estate investor’s best friend; they are the quickest path to securing a deal. Nonetheless, hard money lending can get complicated quickly, so you need to realize what you are getting into before making any decisions for yourself.When exploring real estate hard money lending, you need to comprehend several questions: What are the pros and cons of such a strategy? When should you use private financing for real estate? Where can you find hard money lenders for real estate? The more you know about hard money, for that matter, the better. This guide should serve to lay a solid foundation for everything you need to know about one of today’s g...
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By Bob Force (REALTOR®), The FORCE in Maryland Real Estate
(Weichert Realtors - Aspen Hill)
Today’s View – July 16, 2020 – Mt. Airy, Md. 21771 – Detached HomesThis is a market report for existing detached homes in Mt. Airy, Md. 21771.  At the time of this report (7/16/2020) not including new construction 25 such homes are on the market FOR SALE, another 82 under contract, 47 have sold in the last 30 days. The Absorption Rate (Active/30 day sold) is .53 which is considered a seller’s marketWhile the minimum lot size is just .08 acres and the maximum lot size is 50 acres, the median is .95 acres. Of those active, 5 came to market in the last week. Of those under contact, 13 went under contact last week, and 5 of the 47 sold completed the process last week. Two Bedrooms HomesThere is 1 two-bedroom existing detached home in Mount Airy on the market for sale currently.  This home i...
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