Complex Income Solutions
Have you been told you don’t qualify due to insufficient income? A client’s income profile can be relatively straightforward, extremely complex or somewhere in between. Most lenders can easily handle W2 wage-earner or pensioned borrowers. But when it comes to income from self-employment or other complex sources, many lenders fall flat because they lack the expertise to calculate a client’s true cash flow. This leads to the lender diverting an otherwise qualified borrower into a more expensive bank statement or similar program, ultimately costing the client thousands of dollars per year in needless, excess interest expense.
At PeachTree Financial, we rarely divert our clients into more expensive loan programs because for decades our primary core competence has been the accurate calculation of cash flow. This leads to our clients being qualified for some of the lowest interest rates available.
Are you thinking about buying a home or an investment property? Purchase transactions are not as simple as refinancing, so we recommend that you make sure your lender is particularly skilled in this area. Purchases typically involve a mandatory lender review of all contracts, disclosures and reports. There are also numerous deadlines that must be met. Finally, there is usually a multitude of parties to the transaction, each with their own expectations. If your lender’s primary focus is refinancing, purchase transactions may be a challenge. But not at PeachTree because we have been closing purchase transactions for decades. Additionally, our expertise includes far more than single family homes. We are also skilled in financing condominiums, 2-4 unit properties, investment properties, apartment buildings and even commercial properties.
But there’s more! Did you know that many lenders offer better interest rates for purchase loans than for refinances? The experts at PeachTree Financial know who those lenders are, and our clients get the benefit.
Interest Rate Reduction
Everyone is interested in lowering the interest rate on their mortgage. But how do you ensure that you’re getting the best deal? Theoretically, the answer is no different than shopping for anything else. You simply jump on the internet and/or pick-up the phone and see what’s out there. But that can present a host of challenges.
First of all, most online sources for mortgage rates are just companies trying to collect your personal information so they can then sell it as a lead to someone else. In fact, many lenders will not quote an interest rate unless you give them – you guessed it – your personal information. But PeachTree clients avoid this issue altogether because PeachTree will not share your personal information with any lenders until you’ve accepted the rate quote and are ready to apply for a loan.
Second, you never know when a lender will need to put more loans on their books. And since there are thousands of banks and mortgage companies in the United States, it can be quite the task to keep track of what’s available. Also, many of them are wholesalers and thus not visible to the general public. But they are visible to PeachTree, so we’ve got you covered.
Finally, interest rates are not like the price of most physical goods because interest rates change every day (and sometimes every hour). This can make it very difficult to comparison shop. At PeachTree, we take the stress out of the process because we do the shopping for you. We use several different systems to monitor lenders nationwide as well as the underlying bond market. This creates a competitive advantage that allows us to quote some of the most aggressive rates available and then continue to do so right through closing!
For example, PeachTree was able to drop the interest rate for one of our clients by a full .500% after the client was already approved, locked-in and getting ready to close! This would be nothing to brag about during a period of declining interest rates. However, we pulled it off during a period of spiking interest rates. We were able to combine a one day rate improvement with a lender that suddenly needed to put loans on their books. Our diligence saved the client over $3,000 per year in interest expense over and above what they had already expected to save! The window to accomplish this was only open for about three hours, but we pulled it off for every client for whom it made sense.
Equity Tapping / Debt Consolidation
Need some cash for debt consolidation, home improvement or some other purpose? Known as a cash-out refinance, PeachTree is an expert in the structuring of these loans. And structuring them properly is extremely important because these loans are typically more expensive than a refinance geared simply toward a reduction in your interest rate. For example, as the loan-to-value ratio crosses key thresholds, the interest rate and/or points on the entire loan will increase, forcing you to weigh the benefit of taking marginally more cash-out against an increase in the overall cost of the full loan amount. The experts at PeachTree can guide you in making a cash-out decision that best suits your situation.
Trust / Probate Financing
Have you recently inherited a piece of real estate and need to get a loan in your name and/or need to pay-off the other heirs? In addition to this being a fairly common predicament, it also presents a thicket of legal and tax issues, so please make sure you’ve got a good attorney and CPA on your team [we can refer you to one or both if needed]. At PeachTree Financial, we are extremely well versed in inheritance financing and are ready to work with your attorney and/or CPA to help facilitate and finance a smooth transfer of title to the heir(s).
Investor Financing / 1031 Exchanges
If you’re looking to acquire an investment property, there are a multitude of issues you need to consider:
- What kind of property do you want to buy?
- Do you have experience managing rental properties?
- If the transaction will be a 1031 Exchange, does it meet the 1031 Exchange guidelines [this is a question for your CPA/tax attorney]?
- How will you title the property [this is another question for your CPA/tax attorney]?
Once you’ve answered these questions [and any others you might have], it’s time to discuss financing. For example, how much of the purchase price will you finance? Generally speaking, the more you finance, the lower your ultimate free cash flow. Additionally, the more you finance, the harder it is to qualify. And that’s where PeachTree Financial can help. We are experts in investor financing – we’ve been closing them smoothly for over 24 years!
Commercial / Apartment Financing
Did you know that in the bygone era of stodgy, bureaucratic lending institutions many weeks would pass before you got even a preliminary answer on your commercial real estate or apartment loan? And let’s not forget the application fees, reports and property inspections for which you were expected to pay. To add insult to injury, employee turnover can be so high that you might find yourself dealing with a conga line of different loan officers as you navigate the lending process. Unfortunately, due to the continuing lack of competition in the commercial/apartment lending market, not much has changed.
That’s why you need an advocate like PeachTree Financial. From application through closing, we know what’s important [as well as when it’s important] in the commercial/apartment lending arena. For example, we shield you from paying any fees until we’re convinced that both you and your property are financially qualified for the new loan. We only move forward once that threshold is reached. At PeachTree Financial you will always know what to expect. That’s the PeachTree difference!
Mortgage Payment Elimination
Are you at least 62 years of age and interested in eliminating your mortgage payment? Or maybe you’re at least 62 years of age and are interested in buying a new home but want to avoid both paying all cash AND having a mortgage payment? If so, a reverse mortgage might be the right fit for you. Though reverse mortgages are not for everyone, you’d be amazed at how versatile the modern version of this product can be. For example, you can buy a property, pay-off your current mortgage, get a lump sum in cash or add a credit line. Peachtree Financial even offers a special hybrid reverse mortgage for clients with insufficient equity to qualify for a traditional reverse mortgage. If this sounds interesting, give us a call!
WE HAVE MANY LOAN PROGRAMS TO FIT YOUR NEEDS
Equal Housing Lender/Broker licensed by California Department of Real Estate.
Rates & Programs are subject to change without notice.
100 N. Westlake Blvd., Suite 203
Westlake Village, CA 91362
Monday – Friday
8 am - 5 pm