Posts

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

-
Image
It's Pretty Simple: Low Overhead + Low Margins = Low Rates For our Residential-Commercial-Portfolio-Private-Reverse Loans Over 24 years ago, after working for large banks and mortgage banking companies, I figured out how to operate a mortgage company using 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 sole-owner/loan officer, I personally control our pricing model which keeps our rates very low versus the competition as we have cut out most layers of expenses. We then pass these savings on to our clients via lower rates and costs. Conventional, Government and Jumbo Loan Programs  Non -QM Portfolio Loan Programs (Outside of the Box) ( Residential and Commercial) In-House Direct Private Lending (Owner Occupied, Commercial and Investor) Nationwide Commercial Real Estate Loan Programs (SBA, Conventional, Non-Bank, Insurance Com...
Post a Comment
Read more

2025 Fannie Mae and Freddie Mac Conforming Loan Limits are Now Available!

-
Image
2025 Fannie Mae and Freddie Mac Conforming Loan Limits are Now Available! $806,500! 3% Minimum Down Payment For Owner Occupied Owner Occupied, Second Home and Investment 620 Minimum Fico Score Contact Us With Any Questions  www.McCormickLendingGroup.com   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 "Don't Overpay For Your Mortgage!" mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender
Post a Comment
Read more

Private and Portfolio Underwriting (Low Rates and Fees!)

-
Image
Besides being  extremely aggressive  on our Conforming and High Balance Fannie Mae/Freddie Mac, USDA, FHA and VA saleable loans using our  Wholesale Rates , we also offer In-House Private and Portfolio Underwriting for unique "outside of the box" loan situations. In-House Direct Private Lending No Doc if Bank Balance = Loan Amount   No Seasoning on IRA Distributions for Income Asset Depletion Calculation for Income Bank Statement Deposits for Income Cross Collateralization and Bridge Loans  Reverse Mortgage (No Debt Ratios, Fixed Rate and No PMI) Feel free to contact me with any questions   Visit us at  www.McCormickLendingGroup. com Toll Free 800-328-0144 Bob McCormick, President 14362 N Frank Lloyd Wright Blvd #1000 Scottsdale, AZ 85260 23 Corporate Plaza Dr. #150 Newport Beach, CA 92660 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal H ousing Lender
Post a Comment
Read more

What Is a Mortgage Buydown and How Does It Work?

-
Image
  A mortgage buydown, also known as a mortgage rate buydown, involves paying an upfront fee in exchange for a lower mortgage interest rate. The rate reduction can either be temporary or permanent, depending on the buydown type.   There are several types of buydowns. Here’s an overview of some of the most common mortgage buydown options. →   2-1 buydown . A 2-1 buydown agreement provides a lower interest rate for the first two years of your  mortgage. Typically, your rate is reduced by 2 percentage points in the first year and 1 percentage point in the second year, which is how this type of buydown gets its name. You’ll pay the full interest rate starting in the third year and for the rest of the loan term. →   3-2-1 buydown . With a 3-2-1 rate buydown, you receive a lower interest rate for the first three years of your home loan. Your rate is reduced by 3 percentage points in year one, 2 percentage points in year two and 1 percentage point in year three. F...
Post a Comment
Read more

Our Specialty Programs

-
Image
  Even though standard mortgages are our forte' as an independent company we also offer Speciality Loan Programs including: In-House Direct Capital Lending  (Real Estate and Business) up to $2,500,000+ We offer Buyouts of Loan Notes  (Performing and Non-Performing) up to $1,000,000 Nationwide Business and Commercial Loans Equity Sharing Agreements - Cash Out (No Qualification and No Payments) Commercial Loan Restructuring and Debt Negotiation Services  (Commercial Modifications) To see how we operate differently visit us at: www.McCormickLendingGroup.com     Bob McCormick, President 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  mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender
Post a Comment
Read more

Why Your Current Loan Servicer Doesn't Offer The Lowest Rate

-
Image
Wholesale Vs. Retail Mortgage Rates Explained We work with several banks and mortgage wholesalers that allows us to shop rates for our clients.  Being that we do the origination and processing for these sources we receive Wholesale Rates which are discounted from Retail Rates (rates offered from bank branches, direct mortgage lenders, servicers etc.). There can be a large variance (both positive and negative) between lenders on a daily basis regarding the Wholesale Rate that they offer as they compete for market share.  Being that we have several sources to choose from for our client we always have aggressive pricing options. Once we close a loan for our client the loan is then serviced by the bank, lender or servicing company.  The majority of the time they have an internal Retail division that may re-solicit the client for future business. They will make it seem that they can "streamline the mortgage process" as they currently have the loan in their servicing depa...
Post a Comment
Read more

Nationwide Commercial Lending Options

-
Image
Nationwide  Commercial Lending Options We Shop - You Win Since May 2000 we have utilized our own internal funding or partnerships with domestic banks, GSE's (Fannie Mae, Freddie Mac), HUD, CMBS, SBA, midsize to large insurance companies, wholesale conduit lenders, portfolio, private and equity capital companies for loans ranging from $100,000 to over $100,000,000. We have the resources and specialized relationships available to accommodate most every commercial and investor property loan situation with our streamlined process.  In-House Direct Private Bridge Funding  (Owner-Occupied and Investor) up to $2,500,000 6-36 month term Non-Direct up to $50,000,000 Small Balance Low Doc Commercial and Investor up to $5,000,000 (Portfolio) Bank, Non-Bank, CMBS, Private Debt, Fannie/Freddie, Trust and LifeCo loan amounts range from $100,000 to $50,000,000+ SBA 7a and 504 Property & Business Lending  (Up to $5,000,000) Programs Offered Conventional and Non-Bank Commercial ...
Post a Comment
Read more

Second Mortgage Loans (Heloc, Heloan, Reverse Mortgage Second Loans Available)!

-
Image
Home Equity Line of Credit Fixed Rate Home Equity Loans Reverse Mortgage Second Loans Shared Appreciation Loans Utilize home equity without refinancing your first mortgage for high interest rate debt consolidation, home improvement, college tuition, etc . Up to 89.99% on owner occupied homes 85% CLTV on investment properties & second homes Adjustable rate HELOCs, fixed rate Home Equity Loans, Reverse Mortgage Second Loans, Shared Appreciation Loans (No monthly payments) Piggyback purchases & refis, standalone 2nds, and 1st lien HELOCs Maximum Line/Loan Amount is $500,000 If you have any questions regarding these or any other mortgage option please let me know. Visit us at  www.McCormickLendingGroup.com Bob McCormick, President   Toll Free 800-328-0144   Email-  McCormickLending@gmail.com Residential-Commercial-Business Lending 14362 N Frank Lloyd Wright Blvd #1000 Scottsdale, AZ 85260 23 Corporate Plaza Dr. #150 Newport Beach, CA 92660  mb09036...
Post a Comment
Read more

Reverse Mortgage Options (Low Costs and Margins) preserving equity

-
Image
As the owner of Mortgage Quest I personally control out pricing model.  This allows us to offer extremeiy low margins and costs on our Reverse Mortgages helping preserve as much equity as possible over the life of the loan. Equity disbursement is Tax Free With the Fixed rate option the rate never changes and does not have the 2% financed FHA Mortgage Insurance Use equity for Tax Free Liquidity versus liquidating asset accounts  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 Borrowers always keep title to their home No Prepayment Penalty To see how we operate differently visit us at: www.McCormickLendingGroup.com     Bob McCormick, President Call Toll Free 800 328-0144 Email- McCormickLending@gmail.com Residential - Commercial - Private - Reverse 14362 N Frank Lloyd Wright Blvd 1000 Scottsdale, AZ 85260 23 Corporate Plaza Dr. #150 Newport Beach, CA 92660   ...
Post a Comment
Read more