• We now offer a 40-year loan with the first 10 years as interest only, enjoy a low monthly mortgage payment!!!
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Mortgage Depot Welcomes Tariq Bailey To Our Team

Mortgage Depot Welcomes Tariq Bailey To Our Team

Mortgage Depot welcomes our newest Mortgage Loan Officer Tariq Bailey. With a decade worth of experience, he has expertly managed the mortgage process and advised his clients which mortgage options that best benefit their specific financial needs.

He expertly provides his clients with vital information about every cost associated with each mortgage. He researches and identifies a variety of programs available to them, allowing them to choose wisely from an array of mortgage options they qualify for to purchase a new home or business.

His is a thorough, no high-pressure effort to obtain the best possible mortgage for every client!

He’s now servicing the five boroughs, give him a call now at (845) 363-0040.

To visit Tariq’s personal page click here.

It’s Time to Plan Ahead on New Construction

It’s Time to Plan Ahead on New Construction

We help clients get a head start on all their new construction projects before the season is over!

Now’s one of the best times for your clients to build so that their investment properties are ready by spring or summer! The markets will warm up quickly after winter, and we’ll make sure our clients are prepared.

Our New Construction product finances build-ready lot acquisition, up to 90% of construction costs, and is ideal for infill or scattered lot construction.

Some more features include:

  • Single loans up to $1MM for beginner investors
  • Exposure Limits (LOC) up to $10MM for seasoned investors
  • Minimum credit score of 620
  • Rates starting at 6.99%

We are here to help you and our investor clients! Be sure to reach out and discuss your investment plans, so that we can get you the funding you need.

Contact us at 800-535-0270 for more or email us here.

Mortgage Depot Bronze Sponsor

Mortgage Depot Bronze Sponsor

MortgageDepot is proud to have been a Bronze sponsor for the Fall 2018 Real Estate Summit recently held at the Westin Hotel Times Square in the heart of New York City. We are committed to the professional growth of real estate professionals everywhere and it is our goal to support opportunities for them to expand their knowledge, grow their networks and learn from leading experts in their industry.

As a leader in home financing, Mortgage Depot offers a number of popular loan products for residential and commercial real estate transactions. By keeping abreast with the demands of the rapidly changing real estate sector, Mortgage Depot’s Bronze sponsorship of Real Estate Summit is a reflection of our support of the real estate community at large. When we support our colleagues via sponsorships; that support is returned not only to businesses, but also to families and communities. Our mission is to make ownership possible for everyone whether it’s a business, an investment or a personal home.

We sincerely hope that if you attended Real Estate Summit Fall 2018, you had a great experience while networking, hearing great speakers and came away inspired to build your brand and to grow your business as a real estate professional. It was our honor to sponsor this invaluable event and we hope to see you again in 2019.

Contact us today at 800-535-0270 for more information or email us here.

MortgageDepot has the solution for borrowers with a short sale history

MortgageDepot has the solution for borrowers with a short sale history

MortageDepot wants real estate professionals to know that home buyers with a short sale on their credit reports can qualify for financing to purchase a home. MortgageDepot is a mortgage broker with loan officers specializing in working with all borrowers, including those with challenges.

Freddie Mac loans are available to borrowers with a short-sale history. Criteria for qualifying for a loan include the following:

  • The financing must be for the purchase of a primary residence;
  • Maximum loan-to-value ratio cannot exceed 90 percent; and
  • At least four years must have elapsed since the completion of the short sale.

Borrowers seeking a loan to refinance an existing mortgage must be at least four years out from their short sale. Freddie Mac underwriting guidelines do not permit borrowers to receive cash back in a refinance.

At MortgageDepot, we use the Freddie Mac Loan Product Advisor to evaluate the credit of a borrower with a history of a short sale. If the Loan Product Advisor returns with an acceptance, the loan can proceed without additional documentation no matter when the short sale took place. This is only one example of how underwriting to the guidelines allows MortgageDepot to help our customers obtain financing.

Contact us at 800-535-0270 for more or email us here.

Introducing 100% Financing – Cross-Collateral Program

Introducing 100% Financing – Cross-Collateral Program

MortgageDepot recognizes that financing the purchase of a property based on the sale of another can be a challenge in this competitive sellers’ market. We offer a cross-collateralization financing option to achieve higher LTVs. It allows borrowers to leverage their equity in departing residences, investment properties or second homes as down payment.

PROGRAM HIGHLIGHTS

Lending Details
  • Primary residences, second homes, investment property types
  • Purchase and Refinance transactions
  • Available only for Wholesale Portfolio Products

100% Financing when the following conditions are met:

  • Purchase transactions
  • Combined LTV is at least 5% below the published guidelines
  • 12 months reserves

MORTGAGEDEPOT BENEFITS

The MortgageDepot Difference
  • Common sense UW approach
  • True Non-QM portfolio products
  • Wholesale and Correspondent delivery
  • Commercial and Income Property Lending
  • Loan amounts to $25M
  • High DTI ratios considered
  • Interest-only options
  • Privacy Mortgages
  • Vesting in trust, sub S corporation, LLC and partnerships

Contact us at 800-535-0270 for more or email us here.

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New York State Department Of Financial Services
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