I truly was not trying to offend you. I was only trying to shed some light that perhaps a new company that had support to be able to answer these questions for you might better suit you. Thats all. I just don't think that Trulia, which is predominately Realtors, is a good source to find wholesale lenders. Realtors just don't have access to account executives and wholesale lenders like someone in the financing industry. Perhaps, my best advice for you as far as these types of questions would be to go on something like loansifter.com or lenderlab.com or even brokeroutpost.com. This is a network of lenders and brokers for questions just like this.
I truly commend you for researching to help your clients...all good brokers should be doing the same. I just think you can save some time and effort being a little more effective in your research.
Again, It was never my intention to offend you and I apologize if my respond came off in a manner that did offend you. Good luck in your search.
And FYI - these loans still do exist. You can do a mortgage with stated income, or even no docs, depending on the geographical area, down payment amount, credit score, and some other compensating factors.
Through this website and others I've found plenty of banks that still do it.
And as far as my responsibility to help realtors answer financing questions - I've been helping said people. Is there a problem when I need help and want to ask a financing question?
I'm not sure what the point of posting your "answer" in here was, other than to belittle my quest to find financing for my client. I'm sorry.
We do SIVA CA and NY
50-60% LTV to $5MM+ Depending on Assets and Reserves
3/1 Arm @4.875% P&I
Must have 700+ FICO, be self employed with solid assets and reserves and bank statements are a must.
CA CFL Lender & DRE Broker Licensee
Hard money loans may be an option.
Private funding may be an option.
Promise a return of 6+ percent and put an ad in the local paper. With many investors only getting 2% on their cash - a mortgage may be an attractive investment.
You can charge 1% as an origination for your fee.
Is there anyone out there that can help me?
5 yrs self-employed.
I will provide all doc, less TR
Credit score is over 725.
Never late on a mortgage payment..
And why can't I find a simple solution.
I would be more than happy to answer your questions. We are direct lenders, that specializes in hard to close loans, and I may be able to help you with the No Doc Loan depending on the particular situation. You would not beleive the amount of loans we fund in less than two weeks, at competitive rates and fees-when "typical" banks have taken up to 45 days just to "review" the file and said NO. For example, clients with only disability income, no credit scores from all 3 credit bureaus, small business owners who have been in existence for less than 2 years, students who just entered the workforce and dont have the required 2 year employment history, etc. We can do this because we can offer manual underwriting. So what you or your client may think is a No Doc Loan, may not be and we have the expertise to get it done. Hope that helps,
500 W. Cypress Creek Rd, Suite 330
Fort Lauderdale, FL. 33309
office 954-771-7715 x104
I'm sorry, I have to ask...don't you have a boss or co-workers that you can ask about financing questions? What kind of company are you working for? Where is your support? You are suppose to be helping realtors find buyers financing solutions, not asking realtors where to take your loans. Also, I'm sorry, but you'll be hard pressed finding another broker to give you a place to go take your loans. A good broker works extremely hard to find niche lenders where they can take their more difficult loans, or finding alternatives to some requests by consumers. It is your job to educate your consumer that some loans are just not available anymore and steer them in the right direction. I'm really not trying to be hard on you, I'm only trying to help you. You may want to consider finding another company with better resources.