• Ask about our bank statement program which eliminates the use of tax returns and we just use the deposits in your bank account to calculate income.
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Commercial Program Update

****NO DCR Calculation (Debt Coverage Ratio) on Commercial Properties**** Loan amount must be less than $500,000 LTV must be 70% or less Applies to all Property Types Why is this important? DCR can severely limit loan amounts In metropolitan markets...

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TOP 10 UNIQUE NICHES

As a leading mortgage company headquartered in Kew Gardens NY, we are always striving to make sure that we can finance every borrower, that means we need to have every mortgage product available for every borrower. NO OVERLAYS, on Conventional loans. –...

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How to prepare for Home Finance

Should I pay off my credit cards first before I apply? I had a bankruptcy 10 years ago, does this affect my credit? Do I have to use my realtor's mortgage company? How long does the loan process take? Below are some commonly asked questions. If you don’t...

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When does it make sense to refinance?

Usually, people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be...

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Commercial Debt Consolidation

Here is a scenario of one of our recently closed transactions. Borrowers refinanced their property, owned for 50 years, to take cash out in order to get out from under higher rate merchant financing and build a cash cushion to offset their business’...

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Our Mortgage Programs Highlights

As the leading mortgage company in New York, we are always making sure that we stay in tune with all the latest mortgage programs so that every borrower has mortgage program that we can finance. We never stop working for the borrower, actually we don't...

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The best Mortgages we offer you today?

There are 3 major government agencies that control the mortgage industry and they are Fannie Mae, Freddie Mac and FHA. All 3 agencies give monies to the big banks such as Chase, Citibank, Wells Fargo and etc. Each agency has a set of guidelines that the...

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No Income Verification Loans

Do any of the following scenarios sound like a borrower you may be?? Self-employed but doesn’t show enough income to qualify with a traditional bank. Real estate investor who has too many mortgages to qualify with a traditional bank. Credit is just a bit...

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How We Schedule Closings

To All our Valued Customers; We wanted to make sure you had this information handy for getting your loans cleared and scheduled to close. You do NOT need to wait until your loans are CTC ( clear to close), we can submit a request to schedule a closing once...

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FHA Mortgages in New York State

 FHA has year over year been the most utilized loan product when it comes to low down payment. FHA allows for borrowers with poor credit history, as low as 580, and low down payment, as low as 3.5%, to obtain mortgage financing. Not too many people know that closing...

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Need A No Income Doc Loan?

Need A No Income Doc Loan? No Problem with MortgageDepot, there are several types of no income doc loans out there and below is are the parameters for one of them. Eligible Property Types SFR’s, Condo’s, Town Houses Refi’s only are eligible.  Must Be...

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