Category: Mortgage

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Another No Income Verification Loan Closed

REAL ESTATE NEWS (Los Angeles, CA) — Congrats to Don Maher for closing another No Income / No Employment verification loan for a retired couple buying a 2nd home. They had good income, but in the form of non-retirement investments that they could not use to qualify. This loan program now makes up about 50% of Don’s pipeline. Today, it’s a must for every home buyer, seller and investor to be aware of and successfully take advantage of this type of home loan situation.

Good credit with a good down payment/reserves is all that is needed. That’s it. It’s perfect for: the self employed, retired, seasonal workers, real estate investors, and owners of cash businesses.

FICO scores start at 640 with a 35% down payment. Borrowers with 740+ scores can buy with only 20% down. Loan amounts to $3 million and it can close quick. Call with any questions. It’s quick to have Don price out a scenario. Cash out refinances are available as well.

Get a free report on no income verification loans for lofts, condos or houses. Fill out the online form.

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No Income Loft Loans — Get the free report.

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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New Homes and Mortgages — No Income Loans, Market Update

REAL ESTATE NEWS (Los Angeles, CA) — Mortgage Volume is Down: Just a quick note to update you on what we are seeing in the mortgage marketplace currently. According to Don Maher of Universal Capital Mortgage Corporation, volume is down about 40% since this time last year. But you know who is buying? Those who couldn’t qualify last year due to income. The new No Income / No Employment verification program is the most popular loan now. A home buyer just closed one at 7.49% for a 30 year fixed, owner-occupied with only a 1% loan origination fee. No income or employment stated on the application, and no debt ratio calculated. That’s better than most bank statement programs. This requires good credit and reserves, and a minimum of 25% down. So, it’s great for retired people, newly self employed or people with complicated tax returns. Borrowers can do cash refis as well, and 2nd homes are also allowed. | QUESTION OR COMMENT

NEW HOMES — Save $25,000 GUARANTEED on a new home, get home buyer protection, and a free 2-year home warranty at no cost to the buyer for a limited time. Visit www.Save25Grand.com

Get a free list of new homes for sale. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, 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. | QUESTION OR COMMENT