Talk About A Purchase DEAL!

Our borrower had managed his family’s multi-million dollar real estate portfolio for over 20 years but was technically a “first time investor” on paper because none of the portfolio was vested to him personally. In addition, our borrower did not own his primary residence as he resided in a free and clear property owned by the trust. Typically, this lack of real estate experience/ownership on paper creates difficulties when searching for real estate financing.

However, Velocity Mortgage Capital took into consideration the borrower’s real estate experience managing his family’s portfolio and approved him for a loan to purchase a warehouse to start his personal RE portfolio. A tenant was already in place, but the close of escrow set by the purchase agreement was rapidly approaching.

Despite the property being in an area where appraisals were taking 4 weeks, Velocity Mortgage Capital FUNDED the loan, without any tax returns or income statements, in just 28 days!

 Even when loans are challenging, Velocity Mortgage Capital never takes its foot off the gas. VMC uses every tool at their disposal to fund loans easily and quickly for valued clients.

LOAN DETAILS:

Warehouse Purchase

Loan Amount: $950,000.00

LTV 50%

8 year Fixed- 30 year Amortization- NO BALLOON

ZERO Lender Points

Call me today to find out more about our Fast 50 Program, and let me show you how I can do the same for you and your commercial real estate clients!!