HOLDING COMPANY - RENTAL PROPERTY REFINANCE

Designer Capital worked with our client to Refinance their Principal Residence with a Reverse Mortgage.

Our client was referred to Designer Capital as their mortgage was maturing and they were looking for mortgage options with flexible payments as well as an equity take out to fund renovations. The client had a First Mortgage with an institutional lender (renewal was offered at an interest rate slightly higher than market rates) and a Second Mortgage with a private lender at rates ~5% higher than bank rates.

Working with our Bank Partner, Designer Capital was able to achieve this Novel Financing Solution:

  • Mortgage: $1,531,500 (38% Loan-to-Value)

  • Reverse Mortgage

  • No Income Verification required

  • Competitive Interest Rate

Designer Capital was able to work with our Bank Lender to secure financing and extract equity from the client’s Principal Residence. We were able to provide Unbiased Advice and provide a unique financing option that fit the client’s criteria:

  • Flexible Payments: No monthly payments required – Client can make interest and principal payments as desired

  • No Income Verification required – Qualification was based on the client’s age and Appraised Value of their home

  • Equity Take Out – The client was able to access ~$400,000 in funds after paying out their First and Second mortgage

Designer Capital’s Unique Knowledge of lender guidelines and the financing products available allowed us to provide the client with the perfect solution that met all their needs.