Residential Jumbo loans Call (702)900-9476 To Get Started
Residential Jumbo Loan Workouts, and Bridge Loans
Lowerthepayments.com is a bridge loan finance company providing short-term loans collateralized by real estate or other quick-sale collateral. The bridge loans are designed as an interim solution prior to the client obtaining long-term financing. Lowerthepayments.com is targeting the purchase and restructure of residential Jumbo Loans. Lowerthepayments.com consistently works with a select group of intermediaries around the country, and these relationships continue to bring prospective borrowers to Lowerthepayments.com for several reasons: rapid decision-making and swift transaction closings; certainty of closing; client privacy; flexibility allowing creative solutions within the scope of Lowerthepayments.com's underwriting criteria; and experienced professional management to analyze, structure and close transactions.
Last year, we analyzed approximately 430 opportunities comprising over $360 million in loan submissions across the United States. Based on the company's independent sales associates, Lowerthepayments.com is operating in all 50 states. Additionally, Lowerthepayments.com has developed relationships with thousands of borrowers, brokers, CPAs, real estate agents, lawyers and other intermediaries who contribute to its loan origination platform.
Loan Qualifications
You must owe more than your house is worth and want to keep your home.
Have a Jumbo loan mortgage of $417,000 or higher (Jumbo mortgage limits could be $650,000-$730,000 in some counties).
Must be current on your payments.
Have good credit 720+ with good income
Call us now to get started or fill out the quick form below and click submit, A representative will contact you within 24 hours.
Property Details Square Foot: 7800 Year Built: 2006 Beds/Baths: 5 beds, 5 baths Garage: 3-car attached Lot size: 125 x 250 Situation Current Debt: $2,400,000 Current Market Value: $1,500,000 Note Purchase Price: $1,000,000 New Loan: $1,275,000 Owner Saves: $1,125,000 The owner had a total outstanding debt of $2,400,000. The current market value (CMV) on the property was $1,500,000. The owner was not in default and had a 720 credit score. He did not want to move or damage his credit but could no longer sustain his current debt service on the loan and desired a lower loan balance and payment. In addition the owner owed $27,000 in outstanding property taxes. Objective Purchase the existing loan at a discount for cash; restructure the owner's debt and provide long-term conventional financing for a take-out while not damaging the owner's credit; drastically lower his principal balance and debt service; and bring property taxes current. Solution The owner pays $27,000 to bring the taxes current. Negotiate and purchase the loan for $1,000,000 after which time, restructure the owner's debt from $2,400,000 down to $1,275,000. Assist in obtaining a 30-year fixed take out loan at 5.5%. The owner realizes an overall debt reduction of 47%.
Example #116 Atlanta, GA
Property Details Square Foot: 4400 Year Built: 1999 Beds/Baths: 4 beds, 4 baths Garage: 2-car detached Lot size: 130 x 250 Situation Current Debt: $1,550,000 Current Market Value: $875,000 Note Purchase Price: $568,750 New Loan: $656,250 Owner Saves: $893,750 The owner had a total outstanding debt of $1,550,000. The current market value (CMV) on the property was $875,000. The owner was not in default and had a 708 credit score. The owner was professionally relocated and was unable to sell the house and decided to rent the property. Since current rentals don't support the debt service payment, the owner wanted to reduce the principal and debt service in order to create positive cash flow with the rental income. Additionally, the owner wanted to position the property to sell to the tenant in twelve months. Objective Purchase the existing loan at a discount for cash, restructure the owner's debt and provide long-term conventional financing for a take-out while not damaging the owner's credit, and drastically lower his principal balance and debt service. Solution The current lender would only accept $568,750 for the note. Modify the debt from $1,550,000 down to $656,250. Assist in obtaining a take out lender at 75% LTV for a successful refinance twelve days after the note purchase for a total principle reduction of $893,750