Financing
HOME LOANS:
I currently originate loans with Christensen Financial, Inc., dba Davis Mortgage Group. Christensen is headquartered in Florida. Davis Mortgage Group is located in Southlake, Texas, a suburb just north of Fort Worth, and is a full-service mortgage banker. My NMLS#314875. My email address is texasloanguy1@gmail.com. My direct line is 469-438-4382. I do Purchases or refinances for your personal residence, an investment property, or a second home / vacation home. Loan types can be Conventional / FHA or VA / Cashout Refinance / Reverse Mortgage / USDA.
I can close a purchase in 3-4 weeks, and a refinance usually in 4 weeks. I can offer programs with both borrower paid fees and lender paid fees, and get you to closing on refi’s with little or no money due at closing, depending on the Loan-to-Value of your specific property. I have clients returning to us for the second and third time to refinance or buy. They know me and trust me. I’ll work hard to make sure that you have as many options shown to you that you qualify for. Then you can choose which one is best for you.
And since I am local and feel strongly about relationships, I’ll be glad to meet with you in person and attend your closing whenever possible.
ALTERNATIVE: I have a niche program available for those who need it.
QUALIFICATIONS:
- NO CREDIT RESTRICTIONS (NO FICO SCORE OR US CREDIT required (BK / Foreclosure / Short Sale NOT Considered. If it has no effect on our collateral, we DO NOT consider it!)
- LOANS UP TO 100% Loan To Value (Almost ANY type of collateral)
- Minimums: $50K Loan Amount. Minimum 50% Equity Position in Property Required BEFORE our financing.
- NO MAXIMUM LOAN AMOUNT
- Verifiable Ownership Interest (with NO SEASONING!!)
- Ability to Repay (as verified by Profit & Loss Statements, Rent rolls, W2/Paystubs, Bank Statements, Tax Returns – Personal or Corporate)
ACCEPTABLE FORMS OF COLLATERAL:
REAL ESTATE: Raw Land, Commercial, Mobile Home Parks, Mixed Use, Residential, Multi-Family, Manufactured Homes on Owned Land, Farms, Condos, Co-Ops, Condotels, Hotels, Motels.
Other: Corporate Bonds, Accounts Receivable, Rare coins and artwork,, Pensions, Precious Gems and Metals (do not need to be moved if they are in the continental United States), In Ground Assets, Above Ground Assets, Automobiles, RVs and Business Equipment….we can even loan against FILED JUDGMENTS!!
NOTE: For in-ground assets, environmental and geological studies must be complete and up to date.
TURN TIME:
From commencement of due diligence period, 7-10 days.
TERMS:
Due Diligence: $500 per $100,000 Borrowed
- Due diligence funds are placed IN ESCROW during due diligence period. This is done so that there is MAXIMUM protection in place for the borrower
- Due diligence funds are not released to the lender until two conditions are met:
A) Due diligence is complete and loan docs are ready.
B) Borrower authorizes in writing the release of said funds to
lender.
Repayment: $500 per month for every $100,000 borrowed (equivalent to 30YR Term – 4.375% Rate)
EARLY PAYOFF FEATURE: IF ALL PAYMENTS ARE MADE ON TIME, AT MONTH 60
*****LOAN WILL BE FORGIVEN!!****
So, literally, for every $100,000 borrowed, your repayment equals $30,000, or 30%
