Centerpointe Capital Corp., president Scott Polimeni is a commercial real estate and loan origination expert who maintains countless contacts with wholesale lenders throughout the country. Prior to founding Centerpointe Capital Corp., he spent eight years in the U.S. Army Infantry and graduated from the Riverside County Sheriff's Academy. In these articles, Polimeni tells us about how individuals and businesses can secure financing for their projects in this new lending environment.
People with the highest credit scores, the highest income levels, and the longest track record of on-time payments can feel secure that they will qualify for the best mortgage rates in today's market. Additionally, working with a mortgage broker who has experience with these types of situations is another great way to qualify for an extraordinarily low rate.
When potential buyers make the wrong choice of who to ask for a home loan, they risk having their credit score lowered due to multiple credit inquiries. Going with a qualified mortgage company with a proven track record not only makes life easier on the home buyers, but also increases their chances of success in finding a mortgage to meet their needs.
The best way for a self-employed person to find a mortgage for a new home purchase is to apply for a stated income loan. This type of mortgage allows people to obtain financing for their purchases without having to submit as many income statements to the lender.
Home buyers should not have difficulty purchasing a foreclosed property, however they may have trouble buying a short sale home. A non-bank approved short sale home can be extremely difficult to purchase, and it could take between six and nine months, or longer, for the deal to close.
Certainly, businesses who work with companies like Centerpointe Capital Corp. are finding excellent opportunities to raise business capital. A select group of wholesale lenders is looking for qualified individuals to lend money to, and a skilled mortgage broker can help bring these two parties together.
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