FHA and Investor Specialist

Luxury Home Loans:  It appears the market may be finally loosening up a bit for those looking to obtain Luxury Home Loans.  Currently we have some competitive programs for those looking to finance a mortgage loan of 1 Million Dollars and higher, with rates below 5% in some cases on intermediate ARM programs. These programs are great for athletes, entertainers, and executives. Keep in mind that these loan programs are designed for excellent credit scores, full documentation loans, and asset reserves will be required.  Expect the appraisal to be scrutinized closely as well.

Co-Op programs are available only in specific geographic regions of the New York 5 Borough area and require prior approval of that Co-Op Complex.  New Jersey Co-Ops are available on a case by case basis if the Co-Op Management Corporation has prior approval.  Condo's will also have to be on our approved list.

Our primary market for Luxury Home Loans is the tri-state Connecticut, New Jersey, and New York area.  We will certainly lend in other areas including Massachusetts, Virginia, Maryland, and Pennsylvania as long as there are comparable properties to support the value for a property.

Our current owner-occupied guidelines on our Non-Agency Fixed Full Doc Product Specs allow for purchase and no-cash-out refinancing of up to a 75-80% loan-to-value for 1 Unit Single Family Homes, approved Condo's, and approved Co-Ops.  For loan amounts up to 1.5 Million for the same properties, we can lend up to a 70-75% loan-to value.  For up to a 2 Million Dollar property value, we can lend up to a 65-70% loan-to-value. *Some restrictions may apply in Loan-to-value apply in declining market areas.*

I have heard of exceptions being made internally for financing above the 2 Million Dollar amount, so be sure to let me know if you require financing above 2 Million dollars. We can make the necessary exception request, along with the necessary supporting documentation for Luxury Home Loans. I have heard of loans for up to 7 Million Dollars closing on an exception basis as well as loan-to value exceptions.  We want to make loans so if we put our best case forward, we can give it a shot.    

Cash-out refinances for 1-2 unit properties and 3-4 unit property purchase and no cash-out refinance money programs are available as well for our Luxury Home Loans at reduced loan to values.  Credit restrictions and guidelines are a bit tighter on these property types.

As always, I am available any time to discuss your particular financing needs.  There is no-cost for an initial consultation and no obligation.  I have 19 years experience in the mortgage field and can make the necessary requests externally for Luxury Home Loans if needed to get your deal done.  If I can't find a way to get your loan done, I will give you my honest insight as to how and when/where you can get the financing you need.  I pride myself on my networking within the industry in order to learn what can and cannot be done.