• 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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Working Capital to a Trucking Company

Working Capital to a Trucking Company

A borrower needed some quick working capital to assist with the purchase of a new truck. Even though the borrower had average credit and his business was cash-flow positive, finding financing had proved difficult.

Trucking is considered a high-risk industry by most lenders. Additionally, this borrower only owns one truck which greatly increases the chances of default should that truck breakdown. The fact that this business is a sole proprietorship and not a corporation, was a non-starter for most lenders.

We funded this borrower $6,500 of unrestricted working capital in 2 days and approved this transaction based off of 3 months of bank statements and a 1-page credit application.

Private Business Term Program

Our Private Business Term Program offers daily, weekly and monthly payments, unrestricted working capital, business credit lines, no prepayment penalty options and rates starting at 7.99%, but we also offer: No collateral requirement, no restricted industries, no caps on NSFs, no minimum deposit requirements, no time-frame for bankruptcies or foreclosures, no judgment restrictions, credit down to 500, minimum time in business down to 2 months and much, much, more

Contact us for more information about a working capital loan.

Call us today for a FREE consultation at (800) 535-0270 or email us here

Stated Income Loans Nationwide

Stated Income Loans Nationwide

We are a mortgage broker that specializes in 1-4 unit investment and commercial properties.  With just a minimum mid credit score of 650, you can get up to 75% LTV max with absolutely no personal income verified. We are between the institutional bank and hard money financing.  We offer a more cost effective financing solution versus traditional hard money.

  • Quick closings
  • 3 or 8-year ARMs available with rates starting around 7.50%.
  • 30 year fully amortized loans
  • W-2 or self-employed
  • Rebate pricing
  • Seller seconds and gift funds allowed on purchases
  • Non-seasoned funds for purchases are ok.
  • No debt service requirements on 1-4 family investment properties
  • No debt service requirements on traditional commercial loans under $500,0000.

Please let us know how we can help you.

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

No Credit Score Borrowers – Fannie Mae Program

No Credit Score Borrowers – Fannie Mae Program

Effective September 24, 2016, MortgageDepot will entertain loan submissions for borrowers with no credit score for conventional conforming loans. Since we are a mortgage broker we are able to shop and offer the best mortgage options for our borrowers. We do our best to make sure that our purchase market is well taken care of. Here are a few things that you need to know about this no credit score borrower program.

  • Principal residences only
  • Nonoccupying borrowers not allowed
  • One unit property
  • Purchase or limited cash out refinance transactions only
  • Must be a Fixed-rate mortgage
  • Loan amount must not exceed conforming loan limits (high balance not allowed)
  • Debt to income ratio must be less than 40%

So these are just a few bullets to keep in mind when trying to purchase a home and you don’t have any credit scores, this program is available and we offer it, to learn more please contact us.

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

Standard and Limited 203(k) Loans

Standard and Limited 203(k) Loans

Max Financing Down to 620 for both Purchase and Refinance

Let MortgageDepot show you the fast and efficient way to manage 203k loans — We are the 203k professionals with over 25 years experience. We make the process simple for you–Let us show you how.
Give your mortgage search process the edge it needs by putting the power of MortgageDepot to work for you!

The Limited (k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required. The Limited (k) program includes the improvements and/or repairs shown below:

  • Repair/Replacement of roofs, gutters, and downspouts
  • Repair/Replacement/upgrade of existing HVAC systems
  • Repair/Replacement/upgrade of plumbing and electrical systems
  • Repair/Replacement of flooring
  • Minor remodeling, such as kitchens, which does not involve structural repairs
  • Painting, both exterior and interior
  • Weatherization, including storm windows and doors, insulation, weather stripping, etc.
  • Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
  • Accessibility improvements  for persons with disabilities
  • Lead-based paint stabilization or abatement of lead-based paint hazards
  • Repair/replace/add exterior  decks, patios, porches
  • Basement finishing and remodeling, which does not involve structural repairs
  • Basement waterproofing
  • Window and door replacements and exterior wall re-siding
  • Septic system and/or well repair or replacement

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

MortgageDepot is Hiring PROCESSORS NOW!

MortgageDepot is Hiring PROCESSORS NOW!

Join Us
We’re just like you. We’re a team of mortgage professionals who want to make a difference every day. That’s what we do and what we do well. We want your expertise on our team. You will be rewarded and recognized because we value our people and their efforts. It will be 2019 before you know it. Find out how you can become part of a company that makes a difference. Join a solid, established retail and wholesale mortgage broker who has been originating loans since 1993 and continues to grow and thrive today.

What You Need for this Position

  • Minimum 3 years mortgage processing experience in a retail environment
  • FNMA/FHLMC and FHA/VA programs required
  • Sound judgment skills
  • Detail oriented and well organized
  • Ability to handle multiple priorities and produce results
  • Ability to work independently as well as part of a team
  • Ability to handle frequent changes
  • Ability to maintain confidentiality and adhere to company privacy policies
  • Creative/innovative problem solver
  • High level of integrity /strong work ethic
  • Self-motivated/takes initiative
  • Great communication skills both verbal and written

What’s In It for You

For your hard work and experience, you will be rewarded with an offer that will include a strong base salary, lots of growth, and a great working environment!

Work in our beautiful Queens, NY corporate office location has a cafe and plenty of parking. Team perks and more!

Interviews are occurring NOW, so apply now if you are interested! These spots will not last long! So, if you are an experienced Mortgage Processor with a minimum of 3 years of strong mortgage processing knowledge & experience in the retail industry, please apply today!

Didn’t get a chance to update your resume? No problem. Give us a call. 718-268-9000.

Related Information:
  1. Avoiding Unreimbursed Employee Expense
  2. Closing Cost Aid To First-Time Buyers
  3. Exciting Program Updates!
  4. For our Table Funding Clients – TRID Tip
Stated Income Loans to 620 score

Stated Income Loans to 620 score

We now offer a solution for your borrowers with less than perfect credit on multifamily, mixed-use, warehouse, office, retail and automotive properties.

We will go down to a 620 credit score and a maximum LTV of 50%.

  1. Bk discharge 1 day – OK
  2. No active FC or NOD on subject property
  3. Derogatory mortgage history reported on credit – OK
  4. Source of funds to close required but not seasoning
  5. Other people on title in the past 6 months do we need their credit, No
  6. DCR requirement when loan amount > 500k – Yes
  7. Federal tax liens on credit report must be paid unless confirmed payment plan
  8. Vacant refinance not eligible
  9. 80% CLTV max

We offer a quick closing with limited documentation.

Contact us today for a FREE consultation at (800) 535-0270 

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