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Financing in Rocklin : Real Estate Advice

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  • Local Info5
  • Home Buying43
  • Home Selling2
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Activity 4
Fri Oct 3, 2014
Rasem Allan answered:
I recommend Brandee Stephens from Cherry Creek Mortgage in Citrus Heights Office.
Call their office and ask to speak with her; she is great and on top of things.
0 votes 17 answers Share Flag
Fri Jun 14, 2013
Lisa Welsh answered:
Typically 3 years, A mortgage consultant can help you better there. I have some investors willing to do a "BRIDGE LOAN" until you qualify to refinance your home. But it would require more than 3.5% down. ... more
0 votes 6 answers Share Flag
Fri Jan 15, 2010
Jim Walker answered:
The value of the business minus its liabilities is your equity. For Example:

3 ring circus, Inflatable bouncer rentals has a value of $100,000.
Total of all liabilities:: $30,000 (outstanding loans against the business)
Owners equity: $70,000

The metrics? What counts for you most is a low ratio of debt to assets:
continuing the example:

Value of Equipment $30,000 / Value of goodwill: $70,000

Well, right there, we see the ratio of debt to equipment is 1 to 1. The value of the "goodwill" - {prepaid advertising, your book of customers, - comprises your entire equity and is considered soft} {even softer than the bouncers } Being soft it doesn't count much for you, but it doesn't count against you either.

Lenders want to see your balance sheet, because it gives an indication of the health of your business. If you owe more than your business is worth, concern develops that the business may not continue to be viable.

Your balance sheet is only part of the analysis. The income statement is extremely important.

To continue the theoretical example. 3 ring bouncers earned $100,000 the first year $90,000 the second year and $80,000 the third year. The downward trend is going to scare the loan decider (underwriter) even though the trend is not so bad considering the general economy. better to have the trend upward. A good loan underwriter knows how to look at the nuances of the income statement, cash flow statement, and balance sheet very carefully and intelligently.

To continue the example. Let's say the reason for the declining earnings in year two and three is because 3 ring bouncers purchased $100,000 worth of equipment for $30,000 [at auction, a competitor went out of business and you were able to pick up all this stuff super cheap.) You expensed the stuff in the year purchased. (aka section 179) which lowered your reported earnings for those years.

However, your future is even brighter than it was in year one because you now have $100,000 worth of equipment purchased at a steep discount, a competitor out of business. The reason for the lowered earnings wasn't falling business, it was growing business.

What "counts" : Is your business growing, stalling, or failing?
... more
0 votes 2 answers Share Flag
Sat Dec 19, 2009
answered:
Marty - rather than just listen what many brokers are willing to tell you, why don't you say "show me the rate sheet"!

I will echo the age old comment that rates fluctuate daily, with multiple changes on certain days....

I just locked a rate on SFR rental property last week at 5.25%, charging no upfront points while receiving 1 rebate point.

If you give me a call next week (or email) I'd be happy to show you how a loan is priced so you can feel completely comfortable in this process!

Looks like you could drop your monthly payment about $170 per month, let me know if you'd like my assistance!

I'm also supplying my website info incase you'd like to get the process started by filling out an app!

Jeff Marr
Stanford Mortgage
916-947-1312
jmarr@stanfordloans.com
... more
0 votes 10 answers Share Flag
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