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Consolidate Debt and Inject Business Capital
They had always been a responsible couple, never missing a payment, Self-Employed and always on top of their finances. So, when they were denied a conventional loan due to their profit and loss statements and low credit scores from high balances on their business credit cards, they were devastated. They had no idea how they would be able to consolidate all their debt. They were able to use only their rental income and equity to consolidate all their bills, save thousands each month and inject some cash into their business.
Unlock Untapped Equity and Add to Real Estate Portfolio
Despite not being able to qualify for a conventional mortgage, they were able to use the equity in their two investment properties, without having to submit their tax returns, to purchase another investment property all cash. The new investment property was a fixer-upper, but that was just fine with John and his wife. They are now cash-flowing on three investments, building triple equity and diversified their portfolio in two states!
Renovate, Sell for Top Dollar and Replenish Retirement Reserves
He retired early and had multiple investment properties with long-term tenants who were paying way under market value rent and recently moved out. So now, he wanted to take advantage of the real estate market and sell the homes for a profit. The only problem was that they were outdated and needed some renovations first. He tried a cash out mortgage through a conventional lender, but he couldn't qualify. He finally was able to find a loan without having to submit tax returns, cash out to remodel his home, sell for top dollar and replenish his retirement reserves.
Take Advantage of Housing Market for Future Opportunities
She had been rejected multiple times over the years trying to take advantage of her increased home values by cashing out, but she kept getting rejected. The banks were only interested in her tax write offs and not giving out loans to those who could actually afford them. She was not in dire need for cash, but only wanted to take advantage of the real estate market to wait for a good opportunity to invest. When she heard about the DSCR cash-out refinance, she knew it would be a good solution for her.
Company NMLS ID: 2013271
CFL License Number 60DBO-153595 https://docqnet.dfpi.ca.gov/LicenseSearch/LicenseDetails
Equal Lender Opportunity
Equal Housing Opportunity
Company DRE ID: 02123993
For information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval.
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