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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
Episodes
Thursday Oct 06, 2022
Thursday Oct 06, 2022
If you’re an investor and you’re worried about interest rates, and don’t have a ton of cash, what products are out there for financing your purchase?
On today’s episode, Clint Coons of Anderson Business Advisors talks to Rick Floyd, Executive Vice President of Homebridge Financial Services. Rick explains some of the basics that you’ll find in the agency space, such as the typical Fannie/Freddie guidelines, but there are also options out there for investors such as the non-qualified mortgage that has very different requirements and doesn’t carry some of the limits and restrictions you may find in the Fannie/Freddie underwriting.
Highlights/Topics:
- Background on Homebridge Financial
- The traditional Fannie and Freddie guidelines
- Avoid common mistakes investors make - talk with your advisor, make sure they are looking at your ‘big picture’
- How important is ‘seasoning’ of cash - it should be able to be sourced
- Portfolio loans use Fannie and Freddie guidelines
- Non-qualified mortgages - qualifying, terms, cap limits, rates and other details
- HELOCs- only on primary residences, not on investment properties
- What does the next year look like for investors? Lack of inventory is the biggest problem
- One last question -nonQM property transfers- it’s not an issue
Resources:
https://www.linkedin.com/in/rickfloydremn/
https://www.homebridge.com/
https://andersonadvisors.com/clint-coons/
https://andersonadvisors.com/
https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw