SOUTH BAY DIGS | Digital Edition Online

February 19, 2021

DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.

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Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Some restrictions may apply. Based on the purchase/refinance of a primary residence. Credit and collateral subject to approval. Loan to value, debt to income and cash-out restrictions may apply. Programs, rates, terms and conditions subject to change without notice. Please remember that we don't have all your information, so this does not constitute a commitment to lend. Therefore, the rate and payment results may not reflect your actual situation. To get more accurate and personalized results, please call (800) 357-4077 to talk to one of our mortgage bankers. Watermark Home Loans 100 Spectrum Center Dr Ste 150, Irvine, CA 92618-4964 DRE License Number 01523306 NMLS ID: 1838 Regan Hagestad: NMLS 57351 Matthew Disalvo NMLS 1416809 RECENT LOAN SUCCESS STORY CHALLENGE: We received a call from a family who had recently moved out of state, however they wanted to buy an investment property in the South Bay that down the road they will use as a 2nd home. They had been told that Jumbo loans on investment properties required much more down and some banks just told them they were not doing investment property mortgages in the current market. Of the lenders who could do Jumbo Investment Property Loan the interest rates were so high that it no longer made sense to keep as a rental property which led them to think this may not be the best idea. SOLUTION: After finding out that their primary home was owned free and clear as well as their overall asset structure we were able to help them purchase a $2.800,000 home with $1,000,000 down and finance $1,800,000. We broke the loan apart by doing a cash out refi- nance on their primary home for $1,000,000 so they could get the tax deduction and then structured a $800,000 mortgage on the invest- ment property. This allowed both mortgages to have interest rates in the low 3%'s so the rental math made sense but also locked them into fixed rates so they don't have to worry about anything down the road. By looking at the entire picture we were able to achieve our clients short term and long terms goals. Our clients are now the proud owners of a great rental asset that will eventually become their winter home without having to sacrifice their own cash or mortgage terms. 310.607.0131

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