Brendan McKay

Thanks National Mortgage News for this article! It states that FNMA recently conducted a survey of mortgage execs and found that they like and enjoy the tech stacks they have from vendors, but don't like the price tag that comes with it and are seeking lower costs. Well of course! Margins are compressed for all of us right now. The cost of originating seems to keep going up, despite all the shiny pennies in mortgage tech continuing to offer more convenience, efficiency, and cost savings. This is 100% why Elite Title Company offers lenders the opportunity to integrate a fully digital eClose (an average savings to the lender of $500 per loan) with NO EXTRA COST, unless you need to purchase an eVault. No new vendors. No new tech stack. We pay for it - we don't pass it on to you or the borrower. It's a home run for lenders. https://lnkd.in/guVjhzZF

4

🌟 Understanding Fix and Flip Loans: A Guide for Real Estate Investors 🌟 Fix and flip loans are a powerful financing tool for real estate investors aiming to buy, renovate, and sell properties quickly for a profit. Here’s a breakdown of how they work and what you need to know: 🏡 How Fix and Flip Loans Work: Application and Approval: Fast Approval: Unlike traditional loans, fix and flip loans offer quick approval times, typically within days. Property Evaluation: Lenders focus on the property’s potential after-renovation value (ARV) rather than just your credit score. Funding: Purchase and Renovation: These loans cover both the acquisition cost of the property and the estimated renovation expenses. Disbursement: Funds are often disbursed in stages or draws, aligned with the renovation milestones to ensure proper use of funds. Loan Terms: Short-Term Duration: Usually range from 6 to 24 months, designed to match the typical timeline for flipping a property. Interest Rates: Generally higher than traditional mortgages, reflecting the increased risk and short-term nature of the loan. Repayment: Flexible Repayment Options: Some loans offer interest-only payments during the term, with a balloon payment due at the end. Exit Strategy: Successful investors plan an exit strategy, such as selling the property or refinancing it into a long-term mortgage once the flip is complete. 📋 Key Points to Consider: Experience: While some lenders prefer experienced flippers, there are options available for first-time investors. Property Potential: The focus is on the property’s ARV, making a well-thought-out renovation plan crucial. Risk and Reward: Higher interest rates and short terms come with risks, but the potential for substantial profits makes it worthwhile for many investors. Fix and flip loans can transform your real estate investment strategy, allowing you to capitalize on opportunities quickly and efficiently. Understanding how they work is the first step towards making informed and profitable investment decisions. 🔗 Interested in learning more? Let’s connect and explore how fix and flip loans can support your real estate investment goals! 🏠💼 #RealEstateInvesting #FixAndFlip #PropertyFlipping #InvestmentProperties #RealEstateFinance #RealEstate #HomeRenovation #InvestmentOpportunities #RealEstateGrowth #MortgageSolutions

4

Big moves in the job market and leadership changes at HUD could shape the housing and mortgage landscape as we approach the end of the year. Watch for the latest insights! 🏡📊 #MarketMinute #HousingMarket #HomeOwnership #MarketUpdate

1

Enjoy the perks of a cash buyer with NAF Cash! 🔥 In today’s real estate market, cash buyers tend to hold the upper hand. 💸 This program evens the playing field, empowering traditional buyers to compete, succeed, and possibly even save money. 💰 Sellers value the certainty of cash transactions, while you benefit from a seamless, stress-free homebuying journey, potentially saving money along the way. Oh, did we also forget to mention that you can buy before you sell a home with this program? Reach out today to find out how! #HomebuyingMadeEasy #NAFCash #RealEstateWinning

2

The good news (for the housing market at least) continued this week, with flat retail sales and a cooler CPI figure. Average 30-yr mortgage rates dropped back below 7%. More inventory + improved affordability = good signs for transaction volumes in the coming months. #housingmarket #realestatenews #housingmarketupdates #realestatemarket #mortgage #realestate #whatsupwithrealestate

1

**Just Funded** 4.2MM 85% LTV Owner User Acquisition Including over 1MM of Construction AND a 504 SBA Loan Closed in under 60 days from Submission!   Nervous to choose an SBA 504 loan? Don't be. If you've experienced 504 loans taking long to close and find it to be a more difficult process, it doesn’t have to be. When you combine a savvy banking team, a motivated CDC, and the Bellevue Capital Group team, a 504 route can be no different than conventional financing.   As a clear example, this loan was comprised of multiple borrowing entities, multiple guarantors, an acquisition for 2 businesses (one expanding and one moving into a new location), over $1MM of construction buildout cost, a very busy borrower, and we closed this in less than 60 days from submission.   It could not have been done without every person involved executing their portion flawlessly, efficiently, and ahead of time. A shout out to Kyle Sterling and Sam Johnson at NAI for their expert assistance to the borrower throughout the whole process and making it happen. Truly a great team to work deals with.   If you want to hear more on how we efficiently close all our loans including SBA, don’t hesitate to reach out to Dan Spurr (360) 672-4145 or Bellevue Capital Group (844) 739-9226 anytime. 

33

Important READ😀😀

3

🚀 Elevate Your Knowledge with APM's April 2024 Blog! 📚 Dive into insightful articles covering everything from home buying tips to mortgage trends. Stay ahead in the real estate game - click the link below and start exploring now! #APMBlog #RealEstate #MortgageTips https://brev.is/Vkmox

2

Considering commercial real estate? Here’s a game-changer for you: 100% financing = 0% down! SBA 7A Loans: 1. No Down Payment Required: Contrary to popular belief, the SBA doesn't mandate a down payment for commercial real estate purchases. This might be a lender requirement but not the SBA’s. 2. Occupy and Earn! To qualify, you must plan to occupy at least 51% of the property’s leasable space. 3. Flexible Repayments: With terms up to 25 years, managing your repayments becomes straightforward and stress-free. Picture this: You have your eyes on a 10,000 square foot property. With an SBA 7A loan, you need to occupy just 5,100 square feet. The rest? Rent it out for a steady cash flow. SBA 7A Loans offer no down payment and flexible terms, making them a powerful tool for your commercial real estate investments. Curious to learn more? Have you considered leveraging an SBA 7A loan for your commercial real estate ventures? #CommercialRealEstate #SBALoans #InvestmentStrategies

13

1 Comment

Ready to take your commercial property dreams to the next level? Our No Doc Commercial Loans make financing hassle-free! 🏢 With minimal documentation requirements, streamlined processes, and competitive rates, securing funding for your project has never been easier. Whether you're investing in real estate, expanding your business, or refinancing existing properties, we've got you covered. Say goodbye to paperwork headaches and hello to swift approval! Call me to learn more. #CommercialRealEstate #NoDocLoan #FinanceMadeEasy

3

🔥 Hot Topics: FHA 203(k) 🔥 HUD has announced some major changes this week to its 203(k)program. The 203(k)program allows borrowers to finance repair and/or renovation costs into a purchase or refinance. Here are the major enhancements to the program: 🏡 Under the Limited program, the allowable total rehabilitation costs a basic borrower can finance has increased from $35,000.00 to $75,000.00. A HUGE win!!!! 🏡 Providing more time for the work to be completed. The rehabilitation/ repair period has increased to 12 months on the Standard 203(k)and 9 months on the Limited 203k. 🏡 The 203(k)Consultant Fee can now be financed into the total loan amount. That means less out of pocket costs for the borrower! 💰 🏡 Increasing the allowable fees a 203(k) can charge. This is the first increase since 1995! The goal is to encourage more Consultants to participate in the program. Do you have someone who wants to buy a property that needs a little TLC? Or someone who lives in a property the could use some updates? Reach out today for more information on this great program. #hottopics #Mortgage #MortgageTips #FHA203K #renovation #rehabilitation #LoanOfficerTips #seniormortgagebanker #purchase #refinance

1

Read this story, which also has a video, about the latest trends in new build homes.

2

🌟 Industry News Alert! 🌟 The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac are now making historical VantageScore® 4.0 credit scores available to approved users, providing valuable insights for lenders as they transition to updated credit score requirements. 🏡📊 Stay informed and get ready for this significant shift in credit score reporting! #MortgageIndustry #FHFA #CreditScores #HomeLoans #FannieMae #FreddieMac #ONEPresidentialMtg #DrivenByOne #IndustryNews

1