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David A. Krebs is a licensed mortgage broker with over 15 years of experience offering loan options beyond traditional banks

Resedential Mortgage: Refinancing Investment Property
On behalf of our client, we refinanced her investment property, an apartment in Miami Beach, Florida.  She was going through a divorce, and she and her ex-husband originally had two mortgages on the property.  We refinanced those two mortgages into one single mortgage solely in her name and removed her ex-husband from the deed.  In order to qualify her for the mortgage loan, we used an investor cash flow program.  The main highlights of this program are (1) qualification based on a rental analysis to determine property cash flow, and (2) no personal income required to qualify.  This was particularly beneficial to our client, as her tax returns were not sufficient to show her ability to repay.  Her mortgage payments are now lower (5.65%, 30-year fixed) than they were before.

Posted on

August 22, 2019

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