All Forum Posts by: Max Matrin

A blanket mortgage is used to finance the purchase of multiple parcels of real estate simultaneously under the umbrella of a single mortgage. All real properties being financed are held as collateral by the creditor. If there is a release clause, the integrity of the mortgage can remain intact if one or more parcels of real estate within the blanket mortgage are sold.

It depends partly upon how long you plan to be in the home. If you expect to be a short-timer, you'd want the lender credit and slightly higher interest rate. Someone expecting to be in the house for the long haul should opt for the lower interest rate.

The blanket mortgages are typically taken out to cover the costs of purchasing and developing land that developers plan to subdivide into individual lots.

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The benefits of non-recourse loans are fairly self evident. Leveraging your IRA funds allows you to purchase more property than you otherwise could have. Assuming you are a smart investor, and are purchasing quality investments, the ability to leverage your funds means a dramatic increase in the potential rate of return you can earn inside your retirement account.

Buying rental properties is a great way to invest your money, but qualifying for a loan on an investment property is not always easy. Qualifying for a loan on an investment property is much more difficult than qualifying for a loan on an owner occupied home and will cost you more money.

A line of credit lets you draw on funds, as needed, for routine operating expenses up to the maximum amount of the credit line. Credit lines enable businesses to better manage cash flow. They usually carry a much lower interest rate than credit cards but somewhat higher than bank loans for a specific amount and purchase. Credit lines, like bank loans, are usually only available to profitable, established businesses and can be secured or unsecured. There is often a minimal annual fee.

Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. The property itself is used as the only protection against default by the borrower, hard money loans have lower loan-to-value ratios than traditional loans.

Direct Commercial Funding Inc. is a direct private commercial lender based in Houston Texas. Direct delivers customized solutions and a full menu of loan and financing programs for, business owners, developers, investors and commercial real estate professionals throughout north America and abroad.

Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. For FHA loans, down payment of 3.5 percent is required, which is far less than the traditional down payment of 20 percent. Borrowers with credit scores as low as 580 can qualify for an FHA loan.