Monday, October 3, 2022

Small Balance Multi-Family Residential Property Loans 5-24 Units


Small Balance Multi-Family  Residential Property Loans 
5-24 Units

Up to 70% Max LTV on Purchases & Rate-Term Refinance

Additional program details:

  • Up to 65% Max LTV Cash Out Refi
  • Max 70% LTV on Purchase & Rate-Term Refi
  • DSCR (Debt Service Coverage Ratio Used)
  • No Tax Returns Needed
  • Loan Amounts down to $250K
  • Loan Amounts up to $3M
  • Residential Properties - 5-24 Units
  • Single Asset Entities Only
  • Interest Only options available
  • Min. 6 months P&I in Reserves
  • No Deposits Required

Feel free to contact me or visit us at www.McCormickLendingGroup.com 

Bob McCormick, President

Toll Free 800-328-0144

Residential-Portfolio-Private-Reverse

Lending in Arizona and California 

14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

AZMB#0903631 / CFL #603J043 /  NMLS #175743

Toll Free: (800) 328-0144 Fax: (888) 570-6740

Wednesday, September 28, 2022

Our Cross Collateral Loan Program with A-Paper Rates (in lieu of a Bridge Loan)

 

Cross Collateral Loan Program with A-paper rates
This program allows our clients to use the equity in their current home to purchase or construct a new home by obtaining ONE loan against the new property and the existing property combined.  When the existing property is sold and the principal balance is reduced the exisiting property is released and the loan is re-amortized over the remaining term; No refinancing is needed!
  • ONE loan, which is secured by the new property and current residence
  • May be able to borrower up to 100% of the new home and closing costs
  • Provides ability to make a non-contingent offer

Feel free to contact me or visit us at www.McCormickLendingGroup.com 

Bob McCormick, President

Toll Free 800-328-0144

Residential-Portfolio-Private-Reverse

Lending in Arizona and California 

14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

AZMB#0903631 / CFL #603J043 /  NMLS #175743

Toll Free: (800) 328-0144 Fax: (888) 570-6740

Sunday, September 25, 2022

New Temporary Interest Rate Buydowns For Purchase Loans

 


New Temporary Interest Rate  Buydowns For Purchase Loans




2-1 Temporary Buydown
  • 2% lower interest rate in the first year
  • 1% lower interest rate in the second year
1-0 Temporary Buydown
  • 1% lower interest rate in the first year

This buydown is for purchase loans, covering Fannie Mae, Freddie Mac, FHA and VA fixed-rate mortgages. It’s funded by an escrow account carrying a credit balance, which can be contributed to by the seller, builder or real estate agent.

This incentive gives buyers access to lower rates and monthly payments. They could potentially save thousands of dollars in the first few years of their loan.

Feel free to contact me with any questions.

Bob McCormick, President

Office 800-328-0144
McCormickLending@gmail.com

www.McCormickLendingGroup.com 

Lending in Arizona and California 

14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660


Residential-Portfolio-Private-Reverse


mb0903631 nmls175743 nmls179756 Cadoc603J043  EQUAL HOUSING LENDER

Thursday, September 22, 2022

Reverse Mortgages With No Origination Fees and Interest Rate Caps!


As the owner of Mortgage Quest I control our pricing model and have extremely low  margins and costs for our clients!

  • We offer extremely low margins and costs on our Reverse Mortgages  to help preserve as much equity as possible over the life of the loan (most reverse mortgage lenders do not offer this as they want to maximize their own profit)
  • For borrowers over 55+ years old looking to purchase or refinance
  • Only have to qualify to prove ability to pay annual property taxes and insurance
  • You always keep title and own your home
  • Access to a Line of Credit that grows over time
  • No Origination, Title and Underwriting Fee Options Available


Bob McCormick, President

Office 800-328-0144
Email Me

Lending in Arizona and California 

14362 N Frank Lloyd Wright Blvd 1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660


Residential-Portfolio-Private-Reverse


mb0903631 nmls175743 nmls179756 Cadoc603J043  EQUAL HOUSING LENDER

Tuesday, September 20, 2022

Heloc's Available (Up to 90% Cltv and Investment Property Options)

 

Home Equity Line of Credit and Fixed Rate Heloans Available

  • CLTV' s to 90% and DTIs to 50%
  • Fixed-rate Heloc down to 620 fico
  • Rates as low as 4.75% (APR varies depending on scenario) 
  • 90% CLTV on investment properties & second homes
  • Adjustable rate HELOCs, fixed rate Home Equity Loans, and Bridge Loans
  • Piggyback purchases & refis, standalone 2nds, and 1st lien HELOCs
  • Maximum Line/Loan Amount is $500,000

Bob McCormick, President
 
Toll Free 800-328-0144 

Residential-Portfolio-Private-Reverse

14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender



Monday, September 19, 2022

"Don't Overpay For Your Mortgage" (Utilize Our Wholesale Rates)!

   

It's Pretty Simple: Low Overhead + Low Margins = Low Rates!

Over 22 years ago, after working for large banks and mortgage banking companies, I figured out how to operate a mortgage company utilizing a business model which allows us to offer ultra-low interest rates for our clients. 

We utilize extremely low operating costs and margins. Also, by receiving Wholesale Interest Rates and as the owner/loan officer I personally control our pricing model which keeps our rates generally .25% - .50%+ lower than the competition with the same fees and costs! 

We are extremely aggressive on our Conforming and High Balance Fannie Mae/Freddie Mac, USDA, FHA and VA saleable loans.

To see how we operate differently visit us at:

  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com

Residential - Portfolio - Private - Reverse

14362 N Frank Lloyd Wright Blvd 1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 
 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Friday, September 16, 2022

Independent Mortgage Company = Lower Rates and Free Floatdowns!

 


With the changing environment it helps our clients ability to qualify for more while at the same time making sure that they are obtaining the lowest rates and costs. Here are a few ways in which we can help:

As the sole owner and loan officer I personally control our pricing model. Thus, by cutting out a layer of employee compensation "overhead" our rates are very aggressive!

We are able to lock in rates upfront while offering Free Rate Floatdowns if the market improves by either renegotating rate lock or internally changing investors/lenders!

We offer options for all loan types (including in-house Bridge and Portfolio underwriting)!


To see how we operate differently visit us at:


Residential-Portfolio-Private-Reverse
  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com

14362 N. Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr #150
Newport Beach, CA 92660

Lending in Arizona and California

 
 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Thursday, September 15, 2022

Interest Rate Protection Program in this Volatile Market

Interest Rate Protection Program in this Volatile Market


We are not limited to one bank, investor or warehouse credit line.  We have the ability to lock in a rate for our clients to be safe and if the market improves either renegotiate or internally switch lenders to access the lower rate prior to closing.  This hedges rates for the best possible upside and eliminates market uncertainty on trying to time when to lock a loan.


Bob McCormick, President

Toll Free 800 328-0144 
Email  McCormicklending@gmail.com

Residential-Portfolio-Private-Reverse

14362 N Frank Lloyd Wright Blvd. #1000 Scottsdale, AZ 85260
23 Corporate Plaza Dr. #150  Newport Beach, CA 92660 



nmls 175743 azmb 0903631  cadbo 603J043 Equal Housing Lender

Tuesday, September 6, 2022

New Conforming Loan Limits Now Available Up To $715,000!

 


We can now close the new 2023 conforming Fannie Mae/Freddie Mac loan limits of $715,000!

Underwriting benefits vs a Jumbo Loan:
  • Lower Downpayments
  • Lower Fico Scores Allowed
  • Lower Reserves Required
  • Lower Income Requirements for Self Employed

To see how we operate differently visit us at:


Residential-Portfolio-Private-Reverse
  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com

14362 N. Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr #150
Newport Beach, CA 92660

Lending in Arizona and California

 
 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Friday, August 26, 2022

A+ Paper Rates with Portfolio Underwriting (Not Hard Money)




 Besides being extremely aggressive on our main conventional programs and interest rates we also offer A-Paper rates (not Hard Money) with common sense income and property guidelines. These include:

  • Asset-Based Income Qualification
  • Unwarrantable Condo's
  • Multiple Outbuildings
  • Cross Collateralization
  • Large Acreage (40.01 to 100 acres)
  • Alternative Credit
  • Less than 2 years self employed
  • 1031 Tax Exchange
  • Manufactured Homes
  • Custom Construction
  • Entity Vesting


If you have any questions or want to see how we operate differently visit us at:


Residential-Portfolio-Private-Reverse
  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com

14362 N. Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr #150
Newport Beach, CA 92660

Lending in Arizona and California

 
 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Thursday, August 18, 2022

Private and Portfolio Loan Underwriting Options Available (Low Rates and Fees)!

 


In-House Private and Portfolio Loan Underwriting Options Available 


Programs Offered

  • Private and Portfolio Underwriting (Common Sense) - Owner Occupied and Investor
  • Up to 80% loan to value (100% cltv)
  • Foreign National
  • Cross Collateralization
  • Bridge Loans

Property Types

  • Residential Single Family, Condominium, Townhome
  • Office, Retail, Multifamily, Industrial and Mini-Storage
  • Raw Land/Lots

If you are interested in discussing private and portfolio lending or any other mortgage need, please contact me today.


Bob McCormick, President
 
Toll Free 800-328-0144 


14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Wednesday, August 17, 2022

Take Advantage Of Our Wholesale Rates! Don't Pay Retail!


Take Advantage of our Wholesale Rates!

To see how we operate differently visit us at:


Residential (Jumbo- Fannie- Freddie- FHA/VA/USDA)
Commercial (Sba 7a and Portfolio- Asset Based)
Portfolio (Bank Statement and Asset Depletion for Income)
Reverse Mortgages (Low Margins and No Origination Fee options)
Bridge Loans (Remove contingency to sell- Underwritten and Funded In-House)
Private Money (Equity Based Lending)
  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com

Residential-Portfolio-Private-Reverse

14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Friday, August 12, 2022

Qualify with only bank statements! (No tax returns needed)!



Asset only and 12 Month Business Bank Statement Loan
This program is great for move-up and move-down buyers, offering simple, easy and fast closings.  Usable assets: 100% checking and savings, 75% stocks / bonds /  mutual funds, 70% retirement funds. 
 
• Small business owners who cannot qualify with Agency lending
• Only need 12 months of bank statements for income analysis
• We specialize in reviewing unique ownership structures
• Up to 90% LTV
• Up to $3,000,000 loan amounts
• Interest Only available


Bob McCormick, President

Toll Free 800-328-0144 
Email McCormickLending@gmail.com

Residential-Portfolio-Private-Reverse

14362 N Frank Lloyd Wright Blvd. #1000 Scottsdale, AZ 85260
23 Corporate Plaza Dr. #150  Newport Beach, CA 92660

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043  EQUAL HOUSING LENDER

Monday, August 1, 2022

Loan Options Available to Tap Into Home Equity (Pay off high interest debt, Home remodeling, etc.)

 

Home Equity Line of Credit and Fixed Rate Heloans
(Up to 90% Loan to Value and Investment Property Options)

Reverse Mortgages
(55 Years Old +, No points and Interest Rate Caps!)

First Mortgage Cash-Out Refinances
(Up to 80% Loan to Value For Primary Homes on a Conventional or FHA loan, 100% Loan to Value for VA!)

Feel free to contact me with any questions


Bob McCormick, President
 
Toll Free 800-328-0144 

Residential-Portfolio-Private-Reverse

Lending in Arizona and California

14362 N Frank Lloyd Wright Blvd 1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Small Balance Multi-Family Residential Property Loans 5-24 Units

Small Balance Multi-Family  Residential Property Loans  5-24 Units Up to 70% Max LTV on Purchases & Rate-Term Refinance Additional progr...