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$2M Super Jumbo Luxury Loan
$2M Super Jumbo Luxury Loan
#successstory #superjumboloan #purchaseloan #newconstruction #luxurycondo #nonuscitizen #notaxreturns #video Our client was under contract to purchase a new construction condominium in Hollywood, Florida for $2.63 million. The deal had two major challenges. First, the condominium was one of ten units in a newly constructed project. At the time, only one other unit had sold. This was a major roadblock, as most lenders require that a certain percentage of the units be sold already, usually at least 50%. Because we were dealing with a non-warrantable condo with such a low percentage of the units being sold, we had to obtain an exception from the lender. After submitting a full file along with two appraisals, we were able to get the lender to grant the exception. Second, the borrower himself showed income in a non-traditional way. As a non-U.S. citizen from Argentina, he derived his income from 3 continents and was not showing income via U.S. tax returns or paystubs. However, we were able to qualify him based on letters of employment from his employers, attesting to his current and past two years of employment. We overcame those hurdles and obtained for our client an 80% loan-to-value purchase loan with a loan amount of $2.02 million and a 30-year fixed interest rate in the 4's. These are quite impressive terms given the challenges listed above. Are you a non-U.S.-citizen looking to purchase or refinance a condominium? We can help. Contact us today to discuss our loan programs for non-U.S citizens. #mortgagebroker #brokersarebetter #florida
Owner-Occupied Lite-Doc Program
Owner-Occupied Lite-Doc Program

In this video, we discuss a very innovative loan:

The owner-occupied, lite-doc program. LITE-doc is what makes this loan special. The documentation requirements are simple. Seriously. If you're employed, provide written verification of your current income. If you're self-employed, provide a self-prepared P&L. That's it. It doesn't get more creative or flexible than this. Watch our video to learn more about this creative product. #owneroccupied #primaryresidence #secondhome #refinance #homeloans #mortgage #litedoc #profitandlossstatement #verificationofemployment #mortgagebroker #residentialmortgage #selfemployed #bankturndown #brokersarebetter   When it comes to getting a loan to purchase or refinance your primary residence or second home, proving your ability to repay doesn’t have to be difficult. With a LITE. DOC. PROGRAM, you provide minimal documentation and you can still get high loan-to-value and favorable rates. Let’s see if this program is right for you. Number 1 -- Do you have a hard time showing your income? Under the lite-doc program, no tax returns or W2s are needed. And, you won’t be judged on what you made years ago. Instead, you simply provide a written verification of employment showing CURRENT income only. If you’re self-employed, you provide a P&L -- that can even be prepared by YOURSELF -- that covers JUST THE PAST 12 MONTHS. That’s it. Simple.   Number 2 -- Do you have a high debt-to-income ratio? For many lenders, having a DTI greater than 43% is a deal-breaker. However, under the lite-doc program, DTIs as high as around 50% are allowed. Number 3 -- What are other unique features about the lite-doc program? Besides single-family homes, this program also applies to 2-4 units, warrantable as well as NONWARRANTABLE condos, PUDs, townhomes, and even co-ops. Finally, the credit score requirements aren’t overly strict, And the maximum loan-to-value is relatively high. That’s pretty impressive considering the minimal documentation you have to provide.
Multifamily Loans Despite COVID-19
Multifamily Loans Despite COVID-19

Calling all multifamily investors! If you're looking to purchase or refinance, there are still loan programs available despite COVID-19.

Even for the hairier deals, such as multifamily properties with #vacancies and #missedrentpayments, and properties that are in #tertiary or #rural markets. And, there are loan programs for all purposes, including #rehabilitation, #renovation, #stabilization, #valueadd, #partnerbuyout, and #shorttermbridge Watch our video to learn more, and contact us for more details. #multifamily #multifamilyinvesting #multifamilyinvestors #5unitsormore   Despite COVID-19, multifamily can still be a great investment. If you need financing for a property with 5 units or more, there are still loan programs out there. #1 - Vacancies and missed rent payments Even if a multifamily property is suffering from vacancies or tenants missing rent payments, it’s still possible to find a lender for that property. Unlike banks, some non-bank lenders have less stringent cash flow requirements with lower minimum DSCRs. #2 - Geography Do you have your eye on a property that’s not in a primary or secondary market? Despite COVID-19, some lenders will consider multifamily properties in tertiary and rural markets, on a case-by-case basis. #3 - Purpose Besides the plain-vanilla reasons for getting a loan, i.e., purchase or refinance, There are still multifamily loans available for all other purposes including: Rehabilitation and renovation, Stabilization, Value-add, Partner buyout, And, Short-term bridge.
Help With Commercial Loans During COVID-19
Help With Commercial Loans During COVID-19

Calling all commercial real estate owners!

Curious about the possibility of a cash-out refinance? Or have you fallen behind and need help with your mortgage payments? Despite COVID-19, you have options. Watch this video to learn about: 1. Tapping into the equity of your commercial property for emergency cash 2. Getting help if you can't afford your mortgage payments ~~~~~ BONUS: Want to learn more about lending options to help CRE owners? Read our article here:
davidakrebs.com/commercial-lending-during-coronavirus/ #coronavirus #covid19 #brokersarebetter #mortgagebroker #cashoutrefinance #commercialmortgages #commercialrealestate #foreclosurebailout #foreclosure #loanmodification #cre #office #mixeduse #retail #industrial #warehouse #selfstorage #multifamily   COVID-19 brings new challenges to owners of commercial real estate. Including banks not lending at all on CRE. What if you need emergency cash? Can you tap into the equity of your commercial property? The answer is -- It depends. The more your property is cash-flowing, and the lower your current leverage is -- The better your chances are of getting approved for a cash-out refinance. What if your note is about to mature or you can’t afford the mortgage payments? You can try to get a loan modification. Or you can seek a bridge lender to refinance you. And even if you already defaulted, you may be able to get a foreclosure bailout loan.
C&I Loans Despite COVID-19
C&I Loans Despite COVID-19

Calling all business owners! Do you need funds? But don't have any commercial real estate to pledge as collateral for a loan?

You can still take out a loan. Specifically, a commercial & industrial (C&I) loan. Instead of #CRE, you pledge non-real-estate assets as collateral such as: #accountsreceivable #equipment #fixtures #furnishings #futurecreditcardreceipts #inventory #machinery Despite COVID-19, C&I loans are still available. Watch this video to learn more. ~~~~~ BONUS: Want to discover more about C&I loans? Read our article here:
davidakrebs.com/ci-loans/ #coronavirus #covid19 #brokersarebetter #termloans #assetbasedlending #equipmentfinancing #linesofcredit #factoring #cashadvances #smallbusinessfunding You’re a business owner looking for much-needed funds during COVID-19. You try to get a loan, but you don’t have any brick-and-mortar commercial real estate to pledge. The solution? You can look for a commercial and industrial loan (also known as a C & I loan) How does a C& I loan work? With a C & I loan, you pledge non-real-estate assets as collateral, including: Accounts receivable Equipment Fixtures Furnishings Future credit card receipts Inventory; and Machinery What can I use the proceeds for? The loan proceeds can be used for anything, as long as it is directly connected to your business. Such as: emergency issues caused by COVID-19, partner buyouts, and capital expenses.
Investment Property Loans Despite COVID-19
Investment Property Loans Despite COVID-19

Calling all real estate investors!

If you're looking for a loan for your rental or investment properties, you have many options despite COVID-19. In this video, we break down 2 creative loan programs for your next real estate investment project. ~~~~~ BONUS: Want to learn about 2 other great programs for real estate investors? Read our article here:
davidakrebs.com/residential-real-estate-investment-loans/ #investmentproperty #investmentproperties #DSCR #nonowneroccupied #rentalproperty #rentalproperties #rentalportfolioloan #fixandflip #fixerupper #coronavirus #covid19 #brokersarebetter #mortgagebroker #landlordlife #investmentloans If you’re looking for a loan for your rental or investment properties, you have many options despite COVID-19.You want a loan to buy or refinance a rental property. But, your debt-to-income ratio is high. One solution is the “DSCR” program. The lender will focus on the property’s income and expense ratio (known as the debt service coverage ratio, or DSCR). No need to provide your tax returns. And even creative property types are allowed, including short-term rentals and condo-hotels. Are you looking to quickly purchase or refinance a fixer-upper to flip or rent? A short-term bridge loan of 1 to 2 years may be ideal for you. This loan is typically collateral-based, so no income documentation is necessary.
Jumbo Loans With Creative Twists Despite COVID-19
Jumbo Loans With Creative Twists Despite COVID-19

In this video, we break down 2 creative jumbo loan programs -- each one with a "WOW!" factor.

Jumbo Loan Program 1: Cross-Collateralization -- "WOW!" factor: As low as 0% down payment! Jumbo Loan Program 2: Pledged Assets -- "WOW!" factor: As low as 10% down payment! ~~~~~ Therefore, if you're looking to #buy or #refinance a #residential property, with a jumbo loan amount of $510,401 - $15MM+, there are innovative loan programs available despite COVID-19. ~~~~~ BONUS: Want to learn about Jumbo Loan Program #3? Read our article here for an in-depth description of all 3 programs:
davidakrebs.com/creative-jumbo-loan-programs/ #jumboloan #jumbomortgage #jumboloans #coronavirus #covid19 #luxuryrealestate #highrise #assetdepletion #pledgedassets #crosscollateralize #relocation #florida #newyork #california #mortgagebroker   Despite COVID-19, jumbo loans are still available, and some with creative twists to help you minimize or even eliminate your down payment. This is just a fancy term for pledging real estate that you already own in addition to the collateral for your new loan. This can help you achieve up to 100% loan-to-value. In other words, no down payment. What if you don't own any real estate yet? Instead, you can use substantial liquid assets like stocks, bonds, or even mutuals. You can pledge that as collateral to obtain up to 90% loan-to-value.
Bank Statement and P&L Loans Despite COVID-19
Bank Statement and P&L Loans Despite COVID-19

In this video, we break down 2 creative loan programs for self-employed borrowers -- each one with a "WOW!" factor.

Self-Employed Loan Program 1: Bank Statements "WOW!" factor: No need to provide tax returns. Self-Employed Loan Program 2: P&L Statement "WOW!" factor: No need to provide tax returns, and some lenders allow self-prepared P&Ls, instead of CPA-prepared. ~~~~~ Therefore, if you're #selfemployed, and you're looking to #buy or #refinance a #residential property, there are innovative loan programs available. ~~~~~ BONUS: Want to learn about other self-employed programs? Read our presentation here:
davidakrebs.com/self-employed-borrower-loans/ #selfemployedlife #entrepreneur #homeloans #bankstatements #profitandlossstatement #coronavirus #covid19 #mortgagebroker If you’re self-employed, there are creative home loan programs just for you. Purchasing or refinancing is still possible, despite COVID-19. Like many entrepreneurs, you don’t have paychecks or steady tax returns to show income. So, how do you qualify for a loan? One way is — bank statements. You provide 12 or 24 months of bank statements, and you qualify based on the deposits. No tax returns or W2s needed. What’s another way to show your income? A profit-and-loss statement covering 12 or 24 months. Some lenders even allow the P&L to be prepared by yourself, instead of a CPA.
Foreign National Loans in Miami Despite COVID-19
Foreign National Loans in Miami Despite COVID-19

Calling all foreign nationals!

If you're looking for a loan to purchase or refinance an investment property or second home in the U.S., you have many options despite COVID-19. In this video, we break down 2 scenarios where foreign national loan programs are still available. 1. Jumbo loan for a vacation home 2. Cash-out refinance on an investment property ~~~~~ BONUS: Want to learn more about foreign national loans? Read our article here:
davidakrebs.com/foreign-national-loans-florida/ #foreignnational #foreignnationals #foreignnationalloan #greencard #workvisa #secondhome #jumboloans #investmentproperty #investmentproperties #nonowneroccupied #rentalproperty #rentalproperties #rentalportfolioloan #coronavirus #covid19 #brokersarebetter #mortgagebroker #cashoutrefinance #purchase Despite COVID-19, foreign national loans are still available to purchase or refinance a second home or investment property in the U.S. No matter what your goal is. Here are just two examples. You want to purchase a vacation home. Can you get a jumbo loan at 70% loan-to-value? Yes, foreign nationals can qualify for jumbo loan amounts up to $25 million. And higher LTVs with a foreign credit report. You want a cash-out refinance on your investment property, which is a short-term rental unit. Is that possible? Yes, lenders have foreign national programs for all property types, including short-term rentals, non-warrantable condominiums, and co-ops.

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