Category: buy home

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Revolutionary New Program Allows Investors to Buy Properties with No Credit Check or Income Verification!

REAL ESTATE NEWS (Los Angeles, CA) — Real estate investing can be an excellent way to build wealth and generate passive income. However, obtaining financing for investment properties can be a significant hurdle for many investors. Traditional lenders often require extensive documentation, including credit reports, employment verification, and income verification. These requirements can be a significant barrier for many investors who don’t have the necessary credit or employment history.

Fortunately, a new program is now available that can help investors purchase investment properties with less documentation and hassle. The program is called the Reserve Deposit program and is an excellent option for those who have privacy concerns, complicated taxes or multiple property owners.

The Reserve Deposit program is unique in that it requires no credit report or FICO score, no employment verification, no income verification, no DTI, no DSCR and no TRID. Instead, the program is based on a reserve deposit, which acts as collateral for the loan. The reserve deposit is held in a separate account and is used to make the mortgage payments if the borrower is unable to do so. As a result, the lender is taking on less risk, which allows them to offer more favorable terms.

To qualify for the Reserve Deposit program, borrowers must provide a 30% down payment. In return, they will receive a note rate of 6.875% (7.7% APR) on a five-year loan. This rate is better than most non-QM loans currently available, making the program an attractive option for investors looking to finance investment properties.

The Reserve Deposit program is available for both purchases and refinances of 1-4 unit investment properties. The program is designed to help investors who may not qualify for traditional financing due to their credit or employment history. Instead, the program focuses on the borrower’s ability to make the required down payment and hold the necessary reserves.

The program is an excellent option for borrowers who have privacy concerns, as it requires minimal documentation. Unlike traditional lenders who may require extensive financial documentation, the Reserve Deposit program only requires proof of funds for the down payment and reserves. This can be a significant benefit for borrowers who don’t want to disclose their financial history or provide extensive documentation.

Another benefit of the Reserve Deposit program is that it is a quick closing option. Because the program requires minimal documentation and is based on a reserve deposit, the approval process can be expedited, allowing borrowers to close on their investment properties quickly.

The program is also an excellent option for borrowers with complicated taxes or multiple property owners. Because the program is based on the reserve deposit, it is less focused on the borrower’s income or DTI ratio. This can be a significant benefit for borrowers with complicated tax situations, such as those who are self-employed or have income from multiple sources.

The Reserve Deposit program is an excellent option for borrowers looking to purchase or refinance investment properties with minimal documentation and hassle. With no credit report or employment verification required, the program is an attractive option for borrowers who may not qualify for traditional financing. Additionally, the program’s quick closing and minimal documentation requirements make it an excellent option for borrowers with privacy concerns or complicated tax situations.

If you’re looking to purchase or refinance an investment property, the Reserve Deposit program is an excellent option to consider. With minimal documentation requirements and favorable terms, the program is an attractive option for borrowers who may not qualify for traditional financing. For more information on the Reserve Deposit program, please contact 213-880-9910.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Reduce Your New Home Mortgage Rate with a Seller Buydown

Many live/work lofts require loft specialist lender for successful mortgage loan and escrow.

REAL ESTATE NEWS (Los Angeles, CA) — Home sales have dropped off substantially over the past few months due to higher interest rates. One of the best solutions is to have the seller provide an incentive in the form of a buy-down to help reduce the home loan interest rate and allow lower monthly payments.

Some real estate developers and new construction home sellers are offering up to $30,000 in inducements to help prospective home buyers get into a shiny, sparkling new residence.

Purchasing a new home is a big decision and one that requires a lot of thought and consideration. With interest rates on the rise, many potential buyers are finding it harder to afford the home of their dreams. However, there is a solution that can help reduce the cost of a home loan and make it more affordable for buyers. This solution is known as a seller buydown.

A seller buy-down is when the seller of a home provides an incentive to the buyer in the form of a lump sum payment. This payment is used to reduce the home loan interest rate and lower the monthly payments. This can be a great way for buyers to afford a home that they otherwise might not have been able to afford.

Real estate developers and new construction home sellers are starting to offer up to $30,000 in inducements to help prospective buyers get into their new homes. This is a great way for buyers to save money on their home loan and lower their monthly payments. It also helps sellers to move their inventory and sell more homes.

The process of a seller buydown is relatively simple. The seller provides a lump sum payment to the lender, which is used to reduce the interest rate on the home loan. The lender then passes on the savings to the buyer in the form of lower monthly payments. This can result in thousands of dollars in savings over the life of the loan.

For example, The monthly payment for a $600,000 home with 20% down at a 6% interest rate would be approximately $2,914. If the seller provides a $30,000 incentive, then the payment could be reduced to $2,913. That’s a $101 per month savings. In some scenarios, the payment could be even lower. It’s worth noting that this is just an estimate, and there are other factors that can affect your monthly mortgage payment such as property taxes, insurance, and private mortgage insurance (PMI) if your down payment is less than 20%.

It’s important to note that not all sellers will offer a buydown, so it’s important for buyers to ask about this option when shopping for a home. It’s also important for buyers to understand the terms and conditions of the buy-down, as there may be restrictions or limitations.

In conclusion, a seller buydown can be a great way for buyers to save money on their home loan and make it more affordable. It’s important for buyers to ask about this option when shopping for a home and to understand the terms and conditions of the buydown. With a seller buydown, buyers can take advantage of the opportunity to save thousands of dollars over the life of their home loan and make the dream of homeownership a reality. To get qualified to access $30,000 in seller buy down incentives for an easier home purchase, call the Corey Chambers Team 213-880-9910.

Industrial and commercial conversion live/work loft buyers often need to use a loft specialist lender in order for the mortgage funding and escrow to be successful. Request a free list of loft lenders. Fill out the online form:

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.