Preferred Mortgage Rates (PMR, Inc)
59 followersSummary of Preferred Mortgage Rates, Inc. DBA of Gustan Cho Associates NMLS 2315275
As a comprehensive commercial and residential mortgage brokerage and lending firm, Preferred Mortgage Rates is a trade name of Gustan Cho Associates NMLS 2315275. Gustan Cho Associates is a DBA of NEXA Mortgage NMLS 1660690. Preferred Mortgage Rates (PMR) prides itself on being a one-stop lending shop with licenses in 48 states across the US, Puerto Rico, Washington DC, and the US Virgin Islands. Through its strong network of wholesale lenders, the company offers a wide range of specialized loan programs in different sectors, such as business and commercial mortgages.
Client Base and Services
Client Demographics: Nationwide including Washington, DC, Puerto Rico, and the U.S. Virgin Islands.
Homebuyers: Primary and secondary homebuyers, vacation property purchasers.
Homeowners: Those seeking refinancing or home equity loans.
Commercial Real Estate Investors: Investors in residential and commercial properties.
Client Challenges:
Stress at Other Lenders: Many clients have previously experienced difficulties with other lenders.
Last-Minute Loan Denials: Preferred Mortgage Rates specializes in cases where other institutions deny loans at the last minute.
Mortgage Loan Offerings
Residential Mortgage Division:
Government Loans: FHA and VA loans with credit scores down to 500, including manual underwriting options.
Conventional Loans: Competitive rates with zero lender overlays.
Jumbo Mortgages: Loans with credit scores down to 500.
Non-QM Loans:
No-Doc Loans: Minimal documentation is required for this type of loan.
12-Month Bank Statement Loans: Designed for self-employed borrowers who provide bank statements instead of tax returns as proof of income.
Asset-Depletion Mortgage Loans: This type of loan allows people to use their assets instead of regular income when applying for a mortgage loan.
No-Ratio DSCR Loans: Based on the debt-service coverage ratio, not personal income.
P&L Loans: Based on profit and loss statements.
Fix and Flip Loans: Short-term loans for property renovations and resale.
One-Time Close New Construction Loans: Building one-to-four-unit multifamily homes, including manufactured homes and condominiums.
Condotel Condo Financing: For non-warrantable and warrantable condos.
Commercial Lending Division:
Subsidiary Partner Companies: Lending Network, Inc. manages and operates commercial and institutional brokerage and direct lending.
Loan Types: Commercial real estate loans, business loans, and institutional financing.
Reputation and Certifications
Better Business Bureau (BBB): Preferred Mortgage Rates holds an A+ rating with the BBB, reflecting a strong commitment to customer service and ethical business practices.
National Reputation: Known for their ability to approve and close loans that other lenders cannot, particularly in the commercial sector.
Affiliations
NEXA Mortgage LLC: Preferred Mortgage Rates is powered by NEXA Mortgage LLC.
AXEN Mortgage: Additionally powered by AXEN Mortgage (NMLS 1660690).
Unique Selling Points
No Lender Overlays: They do not have any additional requirements beyond what is mandated by the federal guidelines when offering loans at Preferred Mortgage Rates.
Wide Range of Loan Products: The company offers different types of loans that suit diverse customer needs, ranging from traditional mortgages to specialized non-QM loan programs.
Focus on Challenging Cases: The lender specializes in closing difficult deals for borrowers who have been turned down or faced challenges elsewhere. What differentiates the Preferred Mortgage Rates DBA of Gustan Cho Associates within the mortgage industry is their wide selection of loan products, competitive prices, and the ability to close on difficult loans. With a solid network and strong customer service orientation, this company is trustworthy whether you’re looking for residential or commercial loans. I am grateful you furnished me with in-depth knowledge about preferred mortgage rates and their affiliations. Here are some highlights from what you shared:
Company Structure and Licensing:
• Preferred Mortgage Rates NMLS 1660690 is a DBA of Gustan Cho Associates
• Licensed in 48 states plus Washington D.C., Puerto Rico, US Virgin Islands.
• Operates under NEXA Mortgage LLC and AXEN Mortgage
Services Offered:
• Commercial & Residential Mortgage Broker / Lender.
• Wholesale lending network with specialized loan options.
Client Base:
-80% Homebuyers/homeowners / second/vacation home buyers / commercial real estate investors
-Reputation:
-A+ Rating with Better Business Bureau
-Known for approving and closing loans other lenders weren’t able to
Residential Mortgage Options:
-Government, conventional, jumbo, non-QM loans
-Credit scores as low as 500 FICO accepted
-No lender overlays on agency mortgage programs
-Specialized programs: bank statement loans, asset depletion mortgages, DSCR loans
-Construction Loans; Manufactured Home Loans; Condos etc.
Commercial Lending:
-Operates through a subsidiary – Lending Network Inc.
Unique Selling Points:
-One-stop lending shop
-High success rate in closing loans
-Competitive rates
This vast array of services, combined with flexible underwriting guidelines, sets them apart as able to cater to all types of customers, from those who have unique needs to others who may be considered high-risk by traditional lenders.
Email gcho@gustancho.com
Phone: 844-90-RATES
