Shop it, don't take all his work, but maybe something you question.

Meet in a public place like a coffee shop if you need to. 

You should be able to find a better ratio if you shop around.

Also factor distance to schools, nice shopping centers, crime, etc. and other important data.7.

@Alina Vengerov Hi Alina, I have not locked in a rate yet (still shopping for a place), but yes BBVA's professional mortgage offers fixed rate mortgages.

By then we only had 3 weeks to close and I was too tired mentally after shopping around for rates.

If he closes shop, he'll be facing judgements in court from these providers, etc.Business owner owns roughly 50% of his home valued at $300kBusiness owner's FICO score disqualifies him for more traditional / sensible financing which is why he opted for short term working capital in the first place.Proposed Solution:Come in and pay off the existing $40,000 owed to short term working capital providers on behalf of the business owners.Take deed to the property under a sub to arrangement.Lease option the property back to the business owner allowing him to stay in his home.Charge a reasonable fee for the $40,000 and lump that in with the monthly mortgage payment and spread the payments over 24 months.Expected Result ROSY Scenario:Business owner will free up cash flow.

Big investment firms concentrated on other real-estate sectors—apartment buildings, office towers, shopping centers and warehouses—reasoning that single-family homes were too difficult to acquire en masse and unwieldy to manage and maintain.That all began to change during the financial crisis a decade ago.

Here is a link to all the towns in Bergen County you can view and link into each towns website to see the stats, benefits the town offers, shopping, and other amenities.  

If you shop around a bit, you should be able to find someone doing a 25 year amortization.