All Forum Posts by: AJ Wong

Mortgage Rates Collapsed this week 🗣

If you're seeking an investor friendly go to lender for an investment property purchase or refinance check in with my strategic lending partner and mortgage team of 20+ years Nationwide Mortgage Bankers! ALL BP members receive a $550 appraisal lender credit on any closed purchase or refinance loans.

BP members can claim for themselves OR for their real estate client's simply out this short form at www.nmbnow.com/bp or reference our featured ad on BP podcasts the next few weeks!

📝Other highlight programs include:

- Low to no ratios DSCR refinance and purchase mortgages on 1-29 units

- Preferred & Premier Jumbo and Super Jumbo Mortgage Loans

- 10+ Acre Jumbo & Super Jumbo Mortgage Loans with NO Cash out Limits up to $5M

- Mixed use & Commercial

- STR & AirBnB Loans utilizing projected AirDnA income

- FHA, VA, Non-QM

- Foreign National and non US citizen loans

- Medical and law enforcement professional lending programs

- 47 States + Puerto Rico

- Private & Portfolio Lending

My role with Nationwide Mortgage Bankers as VP of Business Development is to share my personal and professional experiences with other investors and real estate professionals as a dually licensed RE Broker & NMLS mortgage broker. If you are a Real Estate Professional, CPA, Attorney or looking to deliver more value to your clientele by offering in-house mortgage services, check out our RE-360 program or reach out to me directly 24/7/365.

Anthony AJ Wong

Licensed RE Broker in OR & CA - Fathom Realty

NMLS Broker 2297941 - NMBNOW.com

Sesemi Group - www.sesemisheet.com

10 Yr Treasury is down to 3.791...that's nearly 80 bps in two weeks. 

If interest rate trends continue or hold, we're entering a subtle new phase in the market. Expect a spike in mortgage applications (I'm not sure what other lenders are seeing) but we've issued 20+ Pre Quals the past few weeks and the majority of borrower inquiries are very well qualified. 

The end of summer pulse will absorb some of the elevated inventory. Buyers will maintain their slight advantage in smaller markets and anticipate strong competition is top markets. 

Mortgage rates declined to their lowest levels in over a year, a sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages. High credit profile DSCR borrowers are seeing rates in the 7% range.

Quotes vary based on credit scores, points and other factors.

The lower rates haven't quite had a foothold in the market yet, meaning active buyers don't have much competition...yet. 

If lower rate trends continue and stay consistent, expect the news to reach sidelined buyers and an uptick in buyer activity towards the end of summer into the anticipated September rate cuts. 

Don't look now but the 10 Year US Treasury is dropping like a rock over the past week currently hovering below 4.1% ahead of the FED Rate decision. 

This has had a net positive effect on mortgage rates with prime Government and Conventional (FHA/VA) often beginning with a 5 in the front and some DSCR rates now in the 6%'s...

The on the ground response is likely a dramatic increase in buyer activity/competition. Judging by my own buyer base, I have roughly two dozen investors seeking Oregon STR, multi family and small balance apartment complexes and commercial investment properties. The anticipation is that as investment ROI becomes more attractive, buyers will intensify their searches.

What are you seeing in your marketplace? 

 Hi German, 

The OC CU rate is great, but assuming full income documentation and a local rental property? I always suggest borrower's check in with their current bank or CU first. The range on rates is from one of the primary correspondent investment property HELOC lenders in the country, a 50 state credit union we work closely with.

The lender will determine DTI based off the repayment term (How and when they will be repaid.) So for example, if it is a 5 year draw and 30 year term, they will calculate off the P&I payment over 25 years. If it is a 10 year draw and 20 year repayment they will calculate DTI based on the 10 year amortization. Most lenders will assume the maximum draw amount and minimum payment for any personal or HELOC loans.

Conversely, many DSCR loans can utilize the interest only payment as the qualifying debt service factor.

Thanks German. 

🏡 Build your mortgage team with an investor focused lender in 47 States and save with a $550 appraisal lender credit for ALL BP Members. Claim your credit at www.nmbnow.com/bp OR contact our team and mention you heard our ads on the BP Podcasts!

As a dually licensed RE Broker in OR & CA and NMLS mortgage broker I know first hand how essential a reliable and hard working mortgage team can be to find (and keep!) Joseph and I have been working closely together for 20+ years and he is an excellent resource for my STR and multi family investor clients and I'm confident your mortgage expectations will be exceeded as well. But don't take my word for it...Joseph has over 50+ 5 star reviews that attest to his decades of exceptional performance.

If you are in the process of qualifying for a new mortgage purchase, refinancing or even just exploring investment for the first time..I highly recommend you connect with our team for a full discovery call and loan scenario.

Above is a small snippet of the mortgage programs we have available and you are always welcome to reach out to me directly for references, questions or support.

PS- My role as VP of Business Development with NMB is to share my personal and professional experiences with the real estate community. If you are a real estate professional connect with me directly to learn more about adding value to your clientele with in house lending. You can also visit www.nmbnow.com/re360 for further details.

Anthony AJ Wong 👁‍🗨

Licensed Real Estate Broker in Oregon & California Fathom Realty

VP Business Development NMLS 2297941 Nationwide Mortgage Bankers

Sesemi Group www.sesemisheet.com

Are you looking for a place to invest in a HIGH ROI Coastal STR or vacation rental? Join Sesemi STReet our homegrown newsletter delivering the HOTTEST STR rental prospects throughout Oregon and the entire Oregon Coast. 

We provide weekly updates on the Oregon Coast STR & AirBnB market along with 150+ live STR listings for sale that are active or eligible for a vacation rental permit on our STR HOT SHEET.

The Oregon Coast consistently ranks amongst the top locations for return on investment as well as an increasing barrier to entry with growth potential. We've helped dozens of out of state and local investors identify, assess and acquire vacation rental homes along the entire majestic Oregon Coast in just the past two years! 

Join the thousands of subscribers already receiving our STR cheat code and tap into vacation rental homes for sale, insight, news, tips and incentives.

Hosted by Anthony AJ Wong 👁‍🗨

Licensed Real Estate Broker in the State of Oregon & California - Fathom Realty

541-800-0455

www.sesemisheet.com 

🎰 What could be better than a go-to proven mortgage team that can provide optimal financing in 47 States + Puerto Rico? 

How about a $550 appraisal lender credit on closed loans for ALL BP members or PRO BP member clients? Claim your credit at www.nmbnow.com/bp OR contact our team and mention you heard our ads on the BP Podcasts! 

As a dually licensed RE Broker in OR & CA and NMLS mortgage broker I know first hand how essential a reliable and hard working mortgage team can be to find (and keep!) Joseph and I have been working closely together for 20+ years and he is an excellent resource for my STR and multi family investor clients and I'm confident your mortgage expectations will be exceeded as well. But don't take my word for it...Joseph has over 50+ 5 star reviews that attest to his decades of exceptional performance. 

If you are in the process of qualifying for a new mortgage purchase, refinancing or even just exploring investment for the first time..I highly recommend you connect with our team for a full discovery call and loan scenario. 

Above is a small snippet of the mortgage programs we have available and you are always welcome to reach out to me directly for references, questions or support. 

PS- My role as VP of Business Development with NMB is to share my personal and professional experiences with the real estate community. If you are a real estate professional connect with me directly to learn more about adding value to your clientele with in house lending. You can also visit www.nmbnow.com/re360 for further details. 

Anthony AJ Wong 👁‍🗨

Licensed Real Estate Broker in Oregon & California Fathom Realty 

VP Business Development NMLS 2297941 Nationwide Mortgage Bankers

Sesemi Group www.sesemisheet.com

Hi Peter, I sent you a private message and a strong 1031X professional reference. 

Seeking an investor friendly go to lender? Check out my strategic lending partner and mortgage team of 20+ years Nationwide Mortgage Bankers! ALL BP members receive a $550 appraisal lender credit on any closed purchase or refinance loans.

BP members can claim for themselves OR for their real estate client's simply out this short form at www.nmbnow.com/bp or reference our featured ad on BP podcasts the next few weeks!

📝Other highlight programs include:

- Low to no ratios DSCR refinance and purchase mortgages on 1-29 units

- Preferred & Premier Jumbo and Super Jumbo Mortgage Loans

- 10+ Acre Jumbo & Super Jumbo Mortgage Loans with NO Cash out Limits up to $5M

- Mixed use & Commercial

- STR & AirBnB Loans utilizing projected AirDnA income

- FHA, VA, Non-QM

- Foreign National and non US citizen loans

- Medical and law enforcement professional lending programs

- 47 States + Puerto Rico

- Private & Portfolio Lending

My role with Nationwide Mortgage Bankers as VP of Business Development is to share my personal and professional experiences with other investors and real estate professionals as a dually licensed RE Broker & NMLS mortgage broker. If you are a Real Estate Professional, CPA, Attorney or looking to deliver more value to your clientele by offering in-house mortgage services, check out our RE-360 program or reach out to me directly 24/7/365.

Anthony AJ Wong

Licensed RE Broker in OR & CA - Fathom Realty

NMLS Broker 2297941 - NMBNOW.com

Sesemi Group - www.sesemisheet.com