If you’re an investor and you’re worried about interest rates, and don’t have a ton of cash, what products are out there for financing your purchase? 

On today’s episode, Clint Coons of Anderson Business Advisors talks to Rick Floyd, Executive Vice President of Homebridge Financial Services. Rick explains some of the basics that you’ll find in the agency space, such as the typical Fannie/Freddie guidelines, but there are also options out there for investors such as the non-qualified mortgage that has very different requirements and doesn’t carry some of the limits and restrictions you may find in the Fannie/Freddie underwriting.

Highlights/Topics:

Background on Homebridge Financial

The traditional Fannie and Freddie guidelines

Avoid common mistakes investors make - talk with your advisor, make sure they are looking at your ‘big picture’

How important is ‘seasoning’ of cash - it should be able to be sourced

Portfolio loans use Fannie and Freddie guidelines

Non-qualified mortgages - qualifying, terms, cap limits, rates and other details

HELOCs- only on primary residences, not on investment properties

What does the next year look like for investors? Lack of inventory is the biggest problem

One last question -nonQM property transfers- it’s not an issue

Resources:

Rick Floyd LinkedIn

https://www.linkedin.com/in/rickfloydremn/

Homebridge Financial

https://www.homebridge.com/

Clint Coons

https://andersonadvisors.com/clint-coons/

Anderson Advisors

https://andersonadvisors.com/

Anderson Advisors on YouTube

https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw