Mortgage Update

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Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
RECENT BLOG POSTS
Back to HUD condo certifications... I received a fair bit of feedback to last week's newsletter, resulting in today's simplified to do list and summary below... (Thank you Peter Maimone for your help).  /// Rates keep edging up, now 5 weeks in a row! /// You can now request fix-flip JV investment...
12/24/2010
FHA (HUD) condo certifications are a must! Without it the marketablility and property value is drastically reduced. Here is the good news: Prospect is authorized to HUD certify properties. We do this at no cost during the loan process. See below... /// Fix-Flip partnership financing is working we...
12/10/2010
Have A Wonderful Thanksgiving!-Paul     The Fix-Flip loan concept and term process Fix-flip or Flip only options available. 1-4 units only. No condominiums. Decision based on project merits instead of credit/income. Same day approvals. Up to 100% financing (purchase and rehab expense) available, ...
11/24/2010
Mortgage bond rates soared to a 5 month high this week, suggesting that the era of record low rates may be over. /// Have a look at what Prospect Mortgage's achievements!...(below) /// Make it a good week folks. - Paul Fix-Flip loans: No pmts 6 monthsFlexible terms, quick closes. Ask me for a quo...
11/19/2010
I am looking for secured co- investor/lenders. I arrange loans for buyers (usually contractors or home builders) who acquire foreclosed property at rock bottom prices to fix it up and re-sell. They have expertise and experience, but not enough capital to take on the single or multiple projects th...
11/07/2010
I am looking for co- investor/lenders for flips. Interest rate is 8-14%, plus 10%-30% of the profits, fully secured with a first mortgage, 6-8 month project time. Borrowers are usually contractors - or use contractors to do the rehab.  Investment amounts $20K-$100K and LTV 50-60%. If interested l...
11/05/2010
Is this a good time to buy? The answer is probably "yes".If you need to sell, than you have a small problem :) But maybe not. If you plan to upgrade, or make an investment, the time to do it is in a weak market. Maybe you could do this without selling first. Below is some useful information. Cont...
10/31/2010
The minimum Fico is now pretty much 640 for mainstream loans, and you need 720 for the best rates. I can still assist with Fico's in the mid 500 range. /// Credit improvement to get approved or get a better rate is inexpensive and can be done quickly. It is fickle business so Do NOT let your clie...
10/30/2010
I get the following questions a lot: "Is this a good time to buy?", and "Where are rates heading?". I don't know the answer to either of course, but let me know if you do please. I also think my answer is irrelevant because the common stance is: "I'll wait with my refinance until the rates go low...
10/25/2010
October 25, 2010                                                                                 "I'm going to wait for the market to hit bottom before I buy" - a common stance prospects take. Below is an argument for buying NOW. The key question is this: "if rates go back up from the current all...
10/24/2010
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Paul Luykx

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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.