NEXA Mortgage LLC now offers 100% acquisition and renovation investment property loans. Needs to have a after improved value of 65% LTV.

• This discussion was modified 2 years, 6 months ago by  Gustan Cho.

Many real estate investors buy fixer uppers and renovate it. After renovation, investors will either flip it and try to sell it for a profit. Other investors want to keep it as a rental by AirBnB’d or long term rental. However, investors want to take cash out refinance to get the renovation cost back with a DSCR Cash-Out Refinance mortgage loan. The issue you run into is most non-qm wholesale mortgage lenders require a one year seasoning requirement on DSCR Cash-Out Refinance mortgage loans. GCA MORTGAGE Group can help Cash-Out Refinance on DSCR loans with six months seasoning of property ownership. Please contact us at contact@gustancho.com

Here’s an informative article about DSCR loans

http://www.gustancho.com/dscr-mortgage-loans

gustancho.com

DSCR Mortgage Loans: Debt Service Cover Ratio

DSCR Mortgage Loans is underwritten based on the cash flow of the property. Borrower does not have to provide income docs or tax returns

Congratulations to former President Donald Trump. On November 5th, 2024, Former President Donald J. Trump and Senator JD Vance won the Republican ticket to the White House. Kamala Harris and her running mate Tim Waltz lost the Democrat ticket to the Presidency after Kamala Harris spent $1 billion dollars and is $20 million in debt. There are still staff members who are due their paychecks and are waiting.

Here are a few relevant points to consider:

Political Implications of Election Results

Impact on the Republican Party: Trump’s nomination could unify different factions within the GOP or exacerbate divisions, depending on how his campaign is received by various voter demographics.

Democratic Strategy Moving Forward: The outcome of Kamala Harris and Tim Walz may prompt the Democratic Party to reassess its strategies, messaging, and candidate selection for future elections.

Campaign Financing: The mention of significant campaign spending and debt raises questions about campaign finance regulations and money’s political influence.

Staff and Campaign Management: The situation with unpaid staff can affect morale and the overall effectiveness of a campaign. It highlights the importance of financial management in political campaigns.

Voter Sentiment: Understanding voter sentiments and the issues that matter most to them will be crucial for both parties’ preparations for the general election.

https://www.youtube.com/watch?v=9iCphDSLvVQ

About time

Home prices in Chicago South Loop are plummeting. Sellers are lowering prices and offering incentives. This correction is continuing throughout the city and Suburbs. Expect the downturn to continue in Chicago and other cities. Stay tuned

Here’s an article about the EXPRESS SBA NO-DOC LOANS you may want to read and find it interesting and informative

http://www.lendingnetwork.org/express-sba-no-doc-loans/

• This discussion was modified 2 years, 8 months ago by  Gustan Cho. Reason: Wrong url

lendingnetwork.org

Express SBA No-Doc Loans

This guide will cover Express SBA No-Doc Loans for small business owners. If you are a small business owner looking for a quick and simple way to get funding

CNBC Jim Cramer and Crooked Media announced the economy is going strong and job opportunities are strong and little unemployment therefore interest rates should go higher. What are they thinking?

• This discussion was modified 2 years, 7 months ago by  Sapna Sharma.

To clarify our previous discussion. Late PAYMENTS within the last 6 or 12 months isn’t a blanket guide in which we grant without valid reasoning behind the lates. In addition to other things that may paint a proper picture away from financial management, usually via the credit report.

example.

If the applicant clearly has been making effort to keep a clean nose for the prior year(s) leading up to the lates. But fell off the wagon in recent times with one or two lates (simultaneous or sequential). A proper LOX or even owning the mistake as they do happen, has a good chance of being sympathetic to this situation due to historical evidence that’s contrary to financial mismanagement.

If said applicant has a history of multiple lates leading up to recent lates that just so happen to lapse into 12-month guidelines. Highly likely, 12 months of clean credit history is going to be required. Financial mismanagement is established with past history which connects dots far too easily.

At any rate, we will certainly do all that’s possible and within reason to have a deal succeed. Otherwise, we have no business doing 500 fico manuals

@Gustan Cho NMLS 873293

Look at this video clip of an Angel

https://youtube.com/shorts/vHs1G6jfqPM?si=3U78Ks72-vEa_6bt

Florida has three different types of down payment assistance program for homebuyers including the HERO DPA home purchase program. Gustan Cho Associates dba of NEXA Mortgage is to be able to offer down payment assistance to Florida homebuyers.

• This discussion was modified 1 year, 2 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 1 month ago by  Sapna Sharma.

Absolutely 💯. I am a strong believer of positive criticism and not compliments. That’s how you learn and get better. A lot of people can’t take criticisms. With compliments most people take it to a new arrogance level. However, compliments are well served for people who deserve compliments. Kevin DeLory and Eddy G Perez Jr. Deserve respect and compliments for setting the foundation of EPM. There’s a reason why a mortgage company produces great employees like Christian Sorenson. It’s folks like Christian Sorenson that make a great company. It’s due to a strong foundation. Great leadership makes a great company and differentiates from the mediocre competition. Competition never sleeps. Thanks for everything you do Mr. Perez and Mr. DeLory. Giving us loan officers the opportunity to do tough loans gives the dream of homeownership become a reality for hard working Americans. You guys are the true silent heroes who are appreciated and not taken for granted. Love all your inspirational videos, sir. Don’t stop being you. Never try to miss Mr. DeLory’s videos no matter how hectic my day is.

Money is not wealth. Money comes and goes. However, you need to realize how many millionaires lost everything they have and had to restart over. Wealth is relationships. You cannot take that away. However you need two people who are committed to make the relationship work.

If the FHA Title I loan is under $7,500, the title I loan is considered an unsecured personal renovation loan. However, any Title I loans greater that $7,500 up to $25,000 is considered a second mortgage and the lien is placed on the house behind the first mortgage.

Mortgage brokers who are looking for doing business in Puerto Rico and thinking of getting licensed may have a hard time finding wholesale residential mortgage lenders who are able to originate and fund loans in Puerto Rico. If you are a mortgage broker looking for a five-star wholesale mortgage investor who is licensed to do government and conventional loans in Puerto Rico, contact Christian Sorenson of Equity Prime Mortgage, commonly known as EPM Mortgage. EPM is the wholesale lender of choice at Gustan Cho Associates. Over 80% of our borrowers are folks who could not qualify at other lenders and the first choice we take our borrowers to is to Equity Prime Mortgage. Christian Sorenson is our top account executive not just at EPM Mortgage but the best wholesale account executive who the team at GCA Mortgage Group worked with. He is always available, is knowledgeable, and always goes above and beyond than any other wholesale account representative anyone at Team GCA Mortgage ever worked with. Give Christian Sorenson a shout. You will not be disappointed.

Here is a link to a comprehensive guide about buying a house in Puerto Rico published on FHA Bad Credit Lenders, a subsidiary of GCA Mortgage Group and Gustan Cho Associates:

https://fhabadcreditlenders.com/buying-a-house-in-puerto-rico/

fhabadcreditlenders.com

Guide To Buying a House in Puerto Rico

Compared to many other U.S. states, home prices and property taxes in Puerto Rico is low making buying a house in Puerto Rico more affordable.

Appraisal came in short at $210,000. Needed $225,000. Manufactured Home. Need 80% LTV cashout refinance to retire debts but appraisal shortage value need to explore HELOC with 90 CLTV. Any know who has the best rate and term. First mortgage is $30,000.

• This discussion was modified 1 year, 6 months ago by  Gustan Cho.

Chicago, Illinois branded as the top three city in the .United States.

https://youtu.be/BhgSz7XF_K0?si=VeC5qr39Uc8Yxnlf

Chase going on a ride on my truck to get trained

Change Thumbnail

• Generating thumbnail…
• Generating thumbnail…

0:25

0:22

• This discussion was modified 2 years, 1 month ago by  Gustan Cho.

Analyst’s forecast for homebuyers for 2024 is not good. Real Estate media giant ZILLOW NEWS forecasts home prices will keep increasing into 2024 despite skyrocketing Mortgage Rates. ZILLOW estimates a 4.9% increase in home prices from August 2023 to August 2024 due to short housing inventory. There’s a shortage of homes Nationally and many first time homebuyers are getting priced out of the housing market. Many homebuyers are finding it more difficult coming up with the down payment of a home purchase.

https://www.biggerpockets.com/blog/zillow-predicts-5-percent-increase-in-home-prices-by-august-2024?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2009/24/23%20Free%20(Control)

• This discussion was modified 2 years, 7 months ago by  Sapna Sharma.

biggerpockets.com

Zillow Predicts a 4.9% Rise in Home Prices by Next August—Is That Possible?

Zillow is really bullish on housing, but are they right? How much are they projecting prices to grow? And who's in disagreement?

EPM EMPOWERED DPA program is the best down payment assistance mortgage grant program in the nation. You need a 620 credit score, front and back end debt to income ratios of 48.99%, rate of 7.75%, borrower paid compensation, and need an automated underwriting system findings approval. The EMPOWERED DPA PROGRAM is for first time homebuyers, first Responders, Veterans, Volunteers, teachers, medical professionals, veterans, government workers, and families who have income no greater than 140% of the areas median household income. Here is a guide on the EPM EMPOWERED DOWN PAYMENT ASSISTANCE PROGRAM. The EPM EMPOWERED DPA PROGRAM is available in all states except for Washington state. If you are interested in qualifying for EPM EMPOWERED DPA PROGRAM Contact Gustan Cho Associates dba of NEXA Mortgage LLC at gcho@gustancho.com or call 262-627-1965. Text us for a Faster Response. GCA MORTGAGE GROUP is licensed in 48 states including Washington DC, Puerto Rico, and the U.S. VIRGIN ISLANDS.

https://www.gustancho.com/down-payment-assistance

gustancho.com

Down Payment Assistance

Down Payment Assistance

Inflation rates are soaring like never in history. Mortgage Rates are at 25 year highs. Mortgage rates we 2.5% 18 months ago and today is 7.625% for prime borrowers. Borrowers with sub 680 credit scores are paying 7.75% plus 3.5% in discount points. Home prices are at historic highs. Many would be homebuyers are priced out of the housing market. The mortgage industry lost 50,000 licensed mortgage loan originators from 140,000 to 90,000 and is expected to see more loan officers leave the mortgage industry. Every thing is going up. Car prices have skyrocketed and continues to go higher. Homeowners insurance premiums are increasing like never before. Joe Biden makes a speech a few days ago saying that Inflation is low under his watch. What is this guy thinking?

https://youtu.be/94-xcl1m6hk?si=g29nmNkMs2ZvY_Mg

Lending Network, LLC is aggressively looking commercial loan officers as independent contractors

https://lendingnetwork.org/commercial-loan-officer-career-opportunities/

lendingnetwork.org

Commercial Loan Officer Career Opportunities

Lending Network, LLC offers commercial loan officer career opportunities with no experience to select goal oriented individuals.

Rent-to-own with Home Partners of America enables rents to get a home with the option to purchase at a later date. The renter would be guaranteed the home they are renting until a loan officer work on their credit so the renter qualifies for a mortgage. The rent to own homebuyer would either need to rebuild their credit or income during they are renting. Home Partners of America (HPA) coordinates the rent-to-own homes. Here is a link to Rent-To-Own Homes

• This discussion was modified 9 months, 2 weeks ago by  Sapna Sharma.

Danny Vesokie is President of Affiliated Financial Partners Commercial Loan School, a training program for Commercial Loans. It is a three day one on one training school online with lifetime support. I have known Danny Vesokie for years and he has trained people who want to get into Commercial lending through his Affiliated Financial Partners Commercial Loan Officer School.

• This discussion was modified 1 year, 6 months ago by  Gustan Cho.

I like to introduce my dear friend Bill Burg

Bill Burg and I go back 2017 which is six years. I hired Bill i n2017 at USA Mortgage. I was boufgr Mr. Burg was hired as a loan officer. He was offered a larger salary and position that it was better than he had at USA Mortgage at a different Mortgage Company about a year later. We kept in touch over the years until he recruited me and my team in January 2021. We grew our friendship and are still going strong with common interests we share. Bill Burger-King will be an important part and contributing partner in this section.

• This discussion was modified 2 years, 8 months ago by  Gustan Cho.

German Shepherds with long coats are a variety of the breed that has a longer, silkier coat compared to the standard short-haired German Shepherds. These long coats can be the result of a genetic variation in the breed, and they are not as common as the short-coated German Shepherds. The long coat variation is still recognized by kennel clubs and breed standards.

When it comes to German bloodlines, there are several well-known bloodlines and breeding programs in Germany that have produced high-quality German Shepherds. These bloodlines often prioritize specific traits, such as temperament, working ability, and conformation to the breed standard. Some of the famous German bloodlines known for producing excellent German Shepherds include:

1. West German Working Lines (WGL): These lines are known for their strong work ethic, intelligence, and versatility. They are often used in various working roles, including police work, search and rescue, and Schutzhund.

2. East German DDR Lines: Dogs from the former East Germany (DDR) were bred for their endurance and courage. They have a different appearance and temperament compared to West German Shepherds and were originally used for border patrol and military work.

3. Czech Working Lines: These German Shepherds are highly regarded for their work in protection sports like IPO (formerly known as Schutzhund). They are known for their intense drive and athleticism.

4. Show Lines: Some German Shepherds come from show lines, which prioritize conforming to the breed standard in terms of appearance. These dogs may not have the same working ability as those from working lines but are still bred for good temperament.

5. American Lines: American breeders have developed their own lines, often mixing German and American dogs. Some of these lines prioritize specific traits for different purposes, such as show, working, or family pets.

When you’re looking for a German Shepherd from specific bloodlines or with a long coat, it’s essential to do thorough research and find a reputable breeder. Reputable breeders will have a strong understanding of their dog’s lineage, health, and temperament, and they will be transparent about the bloodlines they work with.

Always prioritize the health and well-being of the dog over aesthetics or specific bloodlines, and consider adopting from a rescue organization or shelter, as there are often many wonderful German Shepherds in need of loving homes regardless of their bloodlines or coat type.

https://www.youtube.com/shorts/LGpn9HIkP0k

• This discussion was modified 2 years, 8 months ago by  Gustan Cho. Reason: Want to get notified

Loan Officers who have case scenario questions about commercial loans through Lending Network, LLC, please post them on this thread and either Gustan Cho or myself will answer them as soon as possible. Please be detailed in your questions regarding the property, such as the type of property, location, history, and other pertinent facts. Share the purpose of the loan, the current value or P and L, the repairs required, the loan amount, the scope of work, and projected P and L. Besides the purpose of the loan, explain in detail what the money will be used for, and the projected proforma P and L after the renovation or improvements. Explain the current value of the house, the renovation costs, the after improved value, and expected time to stabilize the property. The down payment the borrower has to put down, reserves, and experience of the guarantor or guarantors. If we decided this will be a loan that has merits, the next step will be to have the client complete and personal financial statement and summary sheet to us via email. If you have any questions, please post on this thread or start a new thread. We will start all inquires, case scenario, Q and As on this forum.

https://www.lendingnetwork.org

• This discussion was modified 2 years, 11 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 6 months ago by  Gustan Cho.
• This discussion was modified 1 year, 2 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 2 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 1 month ago by  Sapna Sharma.
• This discussion was modified 1 year, 1 month ago by  Sapna Sharma.

lendingnetwork.org

Home - Lending Network, LLC

COMMERCIAL LOANS, COMMERCIAL REAL ESTATE

More and more insurance companies are leaving Florida. It is becoming more difficult to insure homes in Florida due to hurricanes. Hurricanes is costing Florida homeowners insurance companies billions of dollars in losses. The latest property and casualty insurance company to exit the Florida market is Farmers Insurance.

https://gustancho.com/being-prepared-for-hurricanes/

gustancho.com

Being Prepared For Hurricanes in Florida

Being prepared for hurricanes in Florida is a matter of priority. People should prepare days or weeks ahead of the target hit date of a hurricane.

Here’s an updated article on Gold investment

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.forbes.com/advisor/investing/gold-price/&ved=2ahUKEwi3rfi-9PeAAxXtIkQIHapZBZgQFnoECCQQAQ&usg=AOvVaw1Dej3GqLpaGApu0thoykVY

This thread pertains to John Parker. John, can you please explain what AXEN Mortgage is about and how AXEN MORTGAGE works. Many people are confused about AXEN Mortgage and why NEXA MORTGAGE doesn’t talk about AXEN Mortgage more often.

Amanda had a question on a real estate investor who has a 35 unit apartment building needing to refinance out of a bridge loan. The apartment building was purchased needing work. As a real estate investor of 7 apartment complexes consisting of 3,000 units, lenders require the following:

1. Summary sheet of the purpose of the loan and property detail. Location. What condition is building in A, B, C, D tier and what type of area is the apartment in A, B, C, D.

2. Personal financial statement

3. Three years of tax returns for conforming traditional commercial loans

4. Current P and L and rent roll which is current and proforma. Eventually need copy of leases. Need to itemized income and expenses which includes insurance, property tax, payroll, utilities, maintenance, water, and third-party vendors. Number of units, and approximate square footage. Number of rooms, bedrooms, bathrooms, and does it have dining rooms. Parking spaces or carports.

5. Type of work done and itemized cost

6. Real estate purchase contract

7. Appraisal if available and estimation of value of the property

8. How many are market rent, and section 8 housing

9. Comparable rents in the area for studio, one bedroom, two bedroom, etc.

10. What type of loan program does the borrower prefer and/or expect: Recourse, or non-recourse. How many owners to the property. Is property individually owned or in a LLC or partnership. Traditional conforming commercial loan or hard money loan, or bridge financing.

11. Any deliquent outstanding bills such as mechanics lien, tax liens, or pending lawsuit.

• This discussion was modified 1 year, 2 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 1 month ago by  Sapna Sharma.

It was a pleasure speaking with Kelce Rock, a residential, business, and commercial loan officer with his own team and extensive experience in commercial and business loan originator. Mr. Kelce Rock truly goes above and beyond for his clients and I have absolutely no doubt Kelce will make a phenomenal state senator and future member of U.S. Congress where he will make a difference. We need politicians who serve American Families and not dumbocrats like Imbecile Biden and Sex and Crack Addict Hunter Biden who enrich themselves and are known pedophiles. Dumbass Hunter Crackhead Biden has absolutely no morals and even goes and marries his dead brother’s wife. What a pig.

https://www.youtube.com/watch?v=h3YHiQe3jh4