Achieving Residential Home Financing from $400,000 to $30M at Competitive Rates
If You’re Looking for a Palm Beach Mortgage Lender…
Call Us First! We’ll get you into the best home possible with your available mortgage dollars.
Here’s How…
Our Promise to You Palm Beach
Our experience will save you thousands Palm Beach, virtually eliminate missteps in the process, and get you into the best home possible with your available mortgage dollars.
We are a 24x7x365 Personalized Concierge Mortgage Broker who understands the complexities of the Palm Beach brokerage and Palm Beach real estate markets. We have earned rock-solid trust with the lending community with countless successful mortgage approvals spanning well over two decades.
We have three things to make our Palm Beach mortgage lender approach more effective than anyone else.
We Over-Communicate
Proven Methodology
We have a proven methodology with detailed process so nothing gets missed. You are aware of the status and next steps throughout the process
Understand Unique Situtation
Seeking a Palm Beach Mortgage Lender?
Discover Why Us...
- Best home for your monthly mortgage investment, bar none
- Best loan option and interest rate for your specific situation
- Best privacy with your information
- Best likelihood of closing without missteps or delays
- Best timeline & success rate
Scenarios of Our Typical “Complex” Problem Solving Expertise
Scenario: Bridge Loan
Background: A buyer is buying a property for $3.5mil with a 20% down payment ($700,000). He has cash on hand of $500,000. He has a property that he wants to sell for $1.8mil. He owes $800,000. He has an Equity of about $1mil.
Tactics: To solve this problem a Bridge Loan is done on his present home that must be listed for sale. The Bridge Loan can go up to 60% of the property appraised value (assume $1.8mil). Therefore, $1.8mil x .60=$1,080,000. The present mortgage on the property is paid off and he/she uses the balance towards the down payment on the new home. $1,080,000 – $800,000 = $280,000 leftover.
Result: Needs balance of only $200,000 for a down payment. The Bridge loan is a 1-year Mortgage. This gives you ample time to sell your present home.
Scenario: Cross Collateralization
Background: A man owns a house valued at $1.6mil and has no mortgage on the property. The buyer wishes to buy a new home for $1.8mil.
Tactics: The lender will lend against both properties of $1.6mil + $1.8mil= $3.4mil value. The lender would lend up to 60% (3.4x.6=$2.04mil) The buyer only needs $1.8mil for the purchase.
Result: The buyer will be able to buy the new property with no down payment. The buyer only pays for closing costs.
Scenario: Bank Statements for Self Employed
Background: Many self-employed persons write off a lot of expenses that decrease their income to not qualifying for a standard loan.
Tactics: With the bank statement program, we can use either their personal or business bank statements for their income. The way it works, using 24 months of business bank statements, all the deposits are added up and averaged out for the 24 months. To account for the business expenses, we either use 50% of the income calculated or an Expense Letter from the CPA that states the cost factor in percent of the business (i.e. 30% expense factor). We would discount the monthly income by 30% instead since it is better than a 50% cut. If you were in a cash business and you deposited the cash into your personal account, we would generally use 100% of the deposits subject to the type of business that you have.
Scenarios: Income from Financial Instruments
Background: People that do not have employment but have ample funds in a financial instrument can qualify using these financial instruments without touching them.
Tactics: For example, if you had an annuity of $4mil, you would divide that by 72 months (6 years). The result would be your monthly income. for this example, $4mil/72=$55,555.56 monthly income used on the mortgage application to calculate your Debt-to-Income Ratios.
If You’re Looking for a Palm Beach Mortgage Lender
Call Us First! We’ll get you into the best home possible with your available mortgage dollars.
