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Top 10 reasons to send us Co-ops!
Required credit score reduced to 660 Max DTI for primary and second home occupancy 45% Purchase and R/T, primary and second home occupancy to 90% LTV Primary occupancy cash out to 80% LTV. High Balance primary residence 90% LTV with 720 fico score, 75% with a 680 fico score. High Balan
4 Home Buying Ducks to Get in a Row for 2014
Now, when it comes to putting your own ducks in a row in advance of buying a home, a few things are key. First, start early. Whenever you think you should get started doing the actual prep steps, work backwards about 3 or 6 months before that on the calendar and start then. Secondly, be bold. I find that m
The quality and quantity of service you render fixes your wages and determines what sort of experience you are getting.
The only constraints that you have on your income and advancement potential are those you place upon yourself. If you don’t like your position, or if you are unhappy with your salary, do something about it. What can you do to make yourself more valuable to your department or your company? What tasks have no
Say Goodbye to Stated Income at Hudson City – Jan 10th
Good news: Northstar Funding has an exclusive alternative product which is a NO-DOC loan. We base the loan on rental income (leases only) and qualify as a commercial loan. No primary residences allowed. Debt Service coverage of 1.25%. 70% LTV, min credit score 650, rates range from 7.49 – 10.99. All
Non-warrantable Condo projects
Condo projects are considered to be non-warrantable if they are not eligible to be sold to Fannie Mae or Freddie Mac. There are a number of reasons why a condo may be considered non-warrantable. A condo project that has similar facilities to a condo hotel may not be considered to be warrantable. A condo may also
STATED INCOME: OPEN CONSTRUCTION
STATED INCOME: OPEN CONSTRUCTION FYI: If the house OR building needs work and it’s less than $20,000 we will still lend up to 70% LTV. We will ask for a general contractor’s estimate for work and hold 1.5 times the cost of the improvements/construction in escrow until the work is done.
Lease Construction Financing vs. Traditional Construction Loans – What’s the benefit?
Think about this… We have a new product that will fund 100% of the construction of any building and lease it back to you. You hire your own contractor and the building is built to your specs. What’s the benefit? The lease becomes a write-off against personal
NYS STAR TAX REBATE
Dear Clients & Friends, Please note that everyone that owns a Primary Residence in NYS and had being eligible for the Star Rebate Program in the past was required to re register before December 31, 2013 to ensure they will receive the Star Rebate going forward. There was notification sent to all homeowners in
Fulfill your Financing Needs with NorthStar Funding
Investing in real assets is a strategy investment promoted by many. However, there can be many obstacles to your investment if you do not know where to start. NortStar Funding is the best company at your service if you are in that situation. Getting a loan in a foreign country can be really challenging because th
Mortgage Rates Edge Back Down to 6-Week Lows
Mortgage rates moved lower for the second day in a row, bringing them back to the same 6-week lows seen on Monday, on average. Some lenders were in slightly better or worse shape compared to Monday, but any discrepancies would only be noticeable in the form of closing costs. That means 4.5% remains the most preva
New mortgage regulations
5 ways buying a house just changedWASHINGTON – Jan. 22, 2014 – New mortgage regulations mandated by the Consumer Financial Protection Bureau went into effect this month. The rules are meant to hold lenders liable for bad loans and protect borrowers from loans they can’t afford. Here are five way