SANTA ANA, CA / ACCESSWIRE / March 25, 2020 / The O.C. Mortgage Specialist, founded by Nicholas Panos is a Mortgage Brokerage that deals with negotiating suitable loan products for borrowers. Its primary purpose is to provide clients with the best possible loan scenario, competitive interest rates, and reasonable closing costs. It is difficult to purchase assets such as homes with cash on hand, that's why the proper loan is an absolute necessity. The biggest concern in retrospect is finding the most suitable lender. If you end up with a lender that costs you more interest than what market price indicates, it will be a bad deal. That's the reason why there is a need for a Broker that works between lender and borrower and this is where The OC Mortgage Specialist fits in, assigning the best lender so you pay less overall.
That being said at OC Mortgage Specialist, we offer a series of loan products each having its own niche and merit. Let's take a look into some of them.
Private Investor and Hard Money Loan
This is a lifesaver for people who didn't have any luck with the bank due to credit issues. In this segment of products, we assign clients with lenders that offer higher interest rates and assume more risk. Private Lenders don't require a minimum credit score and will qualify you based on the amount of your down payment, typically 30% or more. Loan amounts range from $75,000 to $2,500,000.
Bank Statement Qualifier
In obtaining a mortgage loan, most times you are required to show some legal form of cash flow in order to verify your capacity as a borrower. This can be difficult to prove depending on how one receives income, especially for the Self Employed. Requirements are credit rating of more than 600, 90% loan to value ratio and 50% debt to income ratio. Loan amounts vary between $150,000 to $3,000,000. In addition a fico score of more than 600 is necessary to qualify.
While the bank makes a loan agreement, they also verify your capability to repay by assessing income. There are some borrowers who don't have sources of income, rather they possess numerous liquid financial assets. These may be used to help one qualify for a new home loan.
Apart from these we also offer Foreign National Loans (for non-US citizens). For more information please visit our website at www.ocmortgagespecialist.com then contact us directly to discuss your specific needs.
Company: The O.C. Mortgage Specialist
SOURCE: The O.C. Mortgage Specialist
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