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What You Should Know About Falling Interest Rates

What You Should Know About Falling Interest Rates

Real estate does have the one added advantage over other financial assets: it generally holds its value well during inflationary times. So real estate is always an excellent asset. Generally, real estate tends to retain its value during inflationary times, even as interest rates are rising. The caveat is that banks must remain willing and eager to continue lending to customers. The recession in 2008 was brought on by excessive lending and ended with the sub-prime mortgage crisis which precipitated the collapse of the property market and a mass sell-off in global assets.

As a result, tightening took place across the credit markets. The Obama administration facilitated an era of lowered interest rates, making the cost of borrowing money quite affordable. Ultimately this meant that banks, credit card companies, mortgage brokers and other lenders were able to pump credit money into the economy to fast-track investment spending, property purchases, and to shore up a collapsing real estate market.

As of 2013, the US economy was humming along. The Fed, then under the leadership of Janet Yellen decided to allow interest rates to rise. Federal Reserve Chair Janet Yellen’s policy served to discourage borrowers as the cost of borrowed money was more expensive for consumers.

The synergistic relationship between inflation-linked effects and interest-rate effects on real estate is worth explaining to the average consumer. When inflation is rising, this generally bodes well for hard assets such as real estate. When property values increase significantly, the inflation-linked higher valuation may outweigh the rising interest rate pressure on the property. In this instance, that effect on real estate can be positive. With interest rates falling, now is your perfect opportunity to refinance or to buy a new home. Talk to us we’re happy to answer any questions you may have about your dream of home ownership.

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

Jumbo mortgages with flexible underwriting

Jumbo mortgages with flexible underwriting

Conforming loans meeting the lending limitations set by Fannie Mae, Freddie Mac and other government-backed organizations may not be right for every borrower. At MortgageDepot, we understand how borrowers, particularly those shopping for single-family homes, condominiums and cooperative apartments in high-cost regions of the country, could need larger loans. Our jumbo advantage program is perfect for borrowers in need of a non-conforming financing option.

Flexible underwriting considerations

Our mortgage loan originators work with lenders specializing in jumbo mortgage financing to offer our borrowers underwriting requirements with even more flexibility and better terms for 2019, including:

  • Loan amounts that start at $1 over conforming loan limits with a maximum allowable loan amount of $3 million.
  • New for 2019 is a 95 percent loan-to-value ratio to $1.5 million.
  • Borrowers enjoy the certainty of fixed-rate financing.
  • Borrowers this year can take advantage of a cash-out option up to $500,000.
  • Loans available for investment properties containing from one to four units.
  • Vacant land up to 20 acres is now eligible for jumbo financing.

Borrowers in New Jersey who had to look on in envy as their New York counterparts took advantage of jumbo loans to purchase cooperative apartments need wait no longer. Our jumbo advantage program for co-op loans is now available to Garden State borrowers.

Contact MortgageDepot

Call us today to learn more about our jumbo advantage loans. One of our loan originators is always available to show borrowers how MortgageDepot has loan programs for everyone.

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

Meet Irina Olivieri, Loan Processor

Meet Irina Olivieri, Loan Processor

Irina joined our team in early 2017 and has since grown into a top non-conforming loan processor. Irina is a quick learner and is eager to take on new challenges in her position. We are grateful to have Irina as a part of our MortgageDepot family. 

Here’s a bit from Irina;

“As a processor, I build from the base to the roof. This metaphor is appropriate for my role in the company. Fundamentally it’s an essential function that is required daily for this business to serve its clients. Before joining the staff here at MortgageDepot two years ago, I traveled the world as a flight attendant, and I was also a business owner.

What’s unique to this business is that you never know what the day will bring. And to me, that represents “another day in paradise!” I’m never bored and greet each day with new expectations. I welcome the challenge of something always being different and having to learn something new. I’m sincere when I say that outstanding client service looks like professionalism and a smile to me! And that isn’t a cliché. In my brief tenure as a processor, I haven’t experienced much change as yet. But I’d love to see what changes that are on the horizon in the mortgage industry in the days to come.”

Super Conforming

Super Conforming

We are committed to helping each of our valued clients set up an affordable loan, but we understand that some of our clients have had trouble finding a loan program that is suitable for their needs. Some lenders and brokers only work with standard loan programs, and the unfortunate reality is that not every borrower’s loan request fits neatly into a box. Our Super Conforming loan program is just one of many types of loans that we offer, and it may be the ideal program for you.

Our Super Conforming loans are ideal for residential property types, but there are many unique guidelines in place that may make this the right program for your situation. Some of the special guidelines and requirements that are in place for these mortgages include:

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  • With a 620 or higher FICO, the maximum loan amount is $726,525 for a single-family property.
  • Up to 90 percent Loan To Value ( LTV) on a purchase or rate/term refinance
  • Up to 80 percent LTV on a non-owner-occupied property or a second home purchase
  • Up to 75 percent LTV on a non-owner-occupied property or up to 80 percent LTV on a rate/term refinance on a second home
  • Up to 65 percent LTV on a cash-out refinance on a non-owner-occupied property or a second home
  • Blended ratios acceptable

It is rarely simple and easy to find the right loans for your needs, and this can be even more complex and challenging when you are dealing with a second home or an investor property that is not owner-occupied. If you are challenged by trying to find the right loan program for your needs, simply reach out to the team at MortgageDepot.com for assistance. We strive to help you achieve your goals through our extensive range of loan programs, and we also offer personalized attention so that you can get your questions answered about the different options.

The ability to set up affordable financing is critical if you want to achieve your real estate goals, and we go the extra mile to help with your needs. If you are shopping around for an affordable loan program for your conforming loan needs, now is a great time to speak with one of our representatives about our Super Conforming loan program and our other financing options that may be right for you.

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

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Mortgage Depot Welcomes Eddie Kaziyev To Our Team

Mortgage Depot Welcomes Eddie Kaziyev To Our Team

I’m Eddie Kaziyev, and I began my career in the Mortgage and Real Estate industry in 2004. Throughout my career, I’ve developed expertise in securing financing for coops and condominiums ultimately led me to work at JP Morgan Chase as a manager in the condo/coop department which specialized in getting condos and coops throughout the U.S. approved for financing with FNMA/FHLMC and JP Morgan.

From the inception of my career, this specialty has distinguished my ability to assess the best mortgage no matter where a buyer wishes to buy their coop or condo property. As a real estate professional, I’ll ensure that no matter the state or location of your choice for that condo or co-op property, you’ll get the best, most affordable available mortgage option in the market place.

So if you’re dreaming as a first time home buyer, empty nest downsizer, or desire a vacation home, or you’re a retiree thinking of relocating, contact me. I’m here to answer any questions you may have regarding securing a mortgage for a co-op or a condo, so don’t delay. Moving into your dream condo could be a phone call away.

To see all our hires click here

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