Posted By Ron Siegel
I know it’s hard to believe… The Media is telling everyone there is no money out there, but here are the facts in this case:
In May, my partner received a call about a $2m Seal Beach, CA purchase. We put together a 75% Loan To Value for $1.5m, which was submitted on May 17th. THE LOAN FUNDED MAY 31 (yes, the same year). The client’s start rate was 3.5%, interest only payment option, and he was thrilled not only with a loan that has been custom suited for his lifestyle, but also that he didn’t have to pay all cash to get this amazing property.
We had another interesting characteristic. He plans to sell his home in LA, in which he has a very aggressive equity position, but found his dream home in Seal Beach before he could get the property listed or his act together. The beauty of our loan was, we used rental income to qualify off his current home, even though he had no rental management experience and when he finally sells his other home and nets that $750,000, he will immediately be able to apply that to his loan with us. His payments will immediately reset to the lower $750,000 loan balance remaining. All the while keeping easy access to the $1.5m loan/line we originated the loan at. He will create liquid equity in his property that is tangible, and requires no further transaction to get access to.
If you want to take advantage of this amazing loan, it is available to you too, not only the $2m purchaser. How many loans do you know with this capacity, this flexibility and can close this quickly. Call me today for complete details and the custom scenario.
The above case is not an exception, we have the ability to close this quickly on any purchase transaction.
I am available to discuss the loan, the process, or anything you like with anyone you would like me to. Just contact me… Ron Siegel 800.306.9130 or Ron@MBEhoa.com
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Ron Siegel is a Radio Show host on the Real Estate Radio Network and counsels clients in all matters Real Estate Related – Mortgage Banking, Real Estate Purchases and Sales, Short Sales, Foreclosures, Credit Repair. Reach on Ron Siegel at Ron@MBEhoa.com – 800.306.1990 – www.MBEhoa.com.
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