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I am still surprised at how consistently I hear people say they didn't think they could get a loan anymore. Although it's harder than it was years ago there are still amazing rates and programs out there to be had. Below is a brief summary on some of the lending solutions I've put together in recent months. I hope this gives you some insight into what might be available to you. If you're unsure, just give me a call and I'd be happy to spend the time determining whether or not you can take advantage. Even if you've been told no by another lender, you still might have an option.

Refi's - as you know, this has been what has kept us busy in recent years. Despite rates going up, there are still very low. Just google the history of 30 yr. fixed money and you'll see what I mean. Try to look at the big picture and not compare today's rates with where rates were 2 years ago. Rather, consider where they are heading.

The reasons one may choose to refi are many. Much of the time it is to fix your debt for the long term (eg. 30 yr. loan) - most of the time I see individuals looking at getting out of a short term ARM, or trying to roll a 1st and 2nd loan into one new loan to fix the debt of the current adjustable 2nd which is typically an interest only loan. Sometimes it's the opposite - I have clients in 30 yr. fixed loans who have had their situation change and are looking for lower rates/cheaper money to mirror their short term strategy on their home.

The cheapest money typically is for loans under $417k. This depends on the county your property is in so for this explanation, I am using my county of King. The next level is between $417k and $567,500 which we call high balance. Then above this is the world of JUMBO. Regardless of what category your loan is in, there are many options available.

The key is understanding one's strategy on the home to match the right program. Although most investors have similar rules & guidelines, there are many distinguishing factors that can make all the difference in being able to successfully fund a loan. This is especially true in the JUMBO world of higher loan amounts. I have an abundance of options and typically the uniqueness of the borrower will determine which investor I choose.

Purchases - the good news is that I've seen this picking up in the last few months. It couldn't be a better time to buy right now - motivated sellers, great rates and quick closings. Right now, we are funding purchase loans in 21 days or less. It's our company's big priority because we know it's what's crucial in today's market to differentiate ourselves.

In the perfect world, the client will have the necessary down payment to get out of paying PMI (mortgage insurance) but that's often not the case. I have options for clients wishing to put zero down (USDA/VA), or 3.5% down (FHA). The point is, you just don't know what your options truly are until you talk to someone credible. It also can get very difficult when you currently own a home and are trying to qualify to buy another - this is a scenario I see often which demands a doing it right the first time. All you have is one chance to package a deal and if done incorrectly, it can make all the difference.

Recently I've saved deals that have died with other lenders for various reasons: bad appraisals, crazy guidelines, incorrect analysis of income, etc. I can't save them all but there's a good chance that if I can't make it happen, it won't anywhere. One of our huge values is our access to some PORTFOLIO money which simply means a loan that doesn't have to fit the strict guidelines of Fannie Mae or Freddie Mac. This is especially true of our Capital group which I'll expand on below. This is what drives most folks crazy - the 1 or 2 rules that kill a deal so our ability to PORTFOLIO means we simply look at a loan to see if it makes sense. I wish all deals were underwritten this way but unfortunately residential mortgage lending is a different animal. Although it's archaic, the money is the best and that's why we usually put up with the extra guidelines and occasional hassle(s).

Custom Construction - we are one of the few who are still offering construction solutions. We have our own in-house group that is focused exclusively on this which allows us to be flexible, and move quickly in times of need. Our construction program right now is limited to owner occupied and 2nd home - so if you are looking at building to sell, which we call SPEC, I do have options with our Capital group.

So whether it's brand new construction or a re-model, we have options. With the inventory of homes out there now, I've had many clients buying homes to tear down, and build, OR existing homes they are simply wishing to re-model. In the end, it's about approving the borrower, the builder & the project - something we can do very quickly. And in some situations, we are even able to provide land financing (dirt) if the plan is to build on it.

Capital - this is a very unique component of our company can simply make all the difference. It's a diverse portfolio of private money that we manage and lend out with our own rules. It allows us to finance properties that don't fit into traditional lending guidelines which is becoming increasingly common. Whether it's construction, commercial or non-conforming loans, we have the ability to move VERY fast. The money is more expensive, but if you are out of options, it can be a life line. Specifically we are able to offer the following types of lending solutions:

1. custom and spec construction - 1 to 8 units
2. land acquisition and development
3. rehab loans
4. commercial loans
5. residential loans that don't fit into the traditional bucket
6. So whether you're an investor looking to buy at auction, or builder/developer looking to leverage the good deals out there, we have solutions.

Summary - so whether it's a REVERSE Mortgage, FHA loan, Home Equity Line of Credit, etc. I am confident we have the ability to help you. If you have a need or question, I am always here to discuss your situation. OR if you know of anyone in need, I'd be happy to help them. My business is 100% referral based and I have every intention of having my clients walk away with a good experience. It's not all doom and gloom out there so feel free to reach out.

Lastly, I heard an interest fact the other day - in 2007 - there was an estimated 500,000 individuals doing what I do. Since then, there has been an 80% drop, which means an estimated 100,000 are left, and they expect this to drop to 50,000 very soon. The # is a little off because right now lenders that work for big banks don't need to be licensed which should change in June - so once this happens, we'll have a better understanding of how many licensed lenders are still left standing. The point is, the landscape has changed - mostly because of the new rules demanding lenders get licensed, and with rates going up, many of those who lived and breathed with the refi boom, are now done. Obviously I am still here so there's a good chance you might know of someone who is in need.

Feel free to download the attachment on a budget-friendly guide to Greener Living. Thank you!

PS - I am currently licensed in Washington, Oregon & Idaho - and soon to be California & Texas. For any other state, there's a good chance one of my fell co-workers can assist as well.