Bankroll – Wagdy Ghoneim Sun, 19 Sep 2021 11:16:37 +0000 en-US hourly 1 Bankroll – Wagdy Ghoneim 32 32 Hard Money Loans – When a Real Estate Investment Needs Quick Financing »RealtyBizNews: Real Estate News Sat, 18 Sep 2021 15:10:00 +0000

There are many ways to successfully invest in real estate. We don’t hear so much about hard money lending these days, but it still has a valuable place in the investment world. Hard money lenders typically don’t assess real estate the same way most investors and other real estate professionals do. Hard money loans can be easier to obtain, but they can be expensive. Despite their cost, they are an essential tool for investors. Knowing when to use hard money and how to get it is essential.

As an investor, you need to know your local market inside and out. You should instinctively get a good idea of ​​the property’s value after a brief inspection. What is different for hard money lenders is that they often lend money outside of their local market. It can be in a remote city or across the country. Hard money lenders cannot physically inspect the property themselves and do not have a solid understanding of local property values.

Every private contract is written for the mutual benefit of the investor and the lender, but there are general rules that govern the hard money market. Hard money lenders do not use the standard underwriting process used by banks. Banks focus on the borrower’s credit history and income. A bank loan is generally 90% or more of the value of the home.

Hard money lenders focus on the value of the property rather than the creditworthiness of the borrower. Sure, they’ll look at a professional appraisal, but it’s not the only appraisal tool they rely on. Often times, they want at least two and maybe three assessment models to make an informed decision. Hard money lenders will review tax appraisal records, but again, this is not a reliable way to appraise real estate. Tax assessment districts calculate the values ​​on an annual basis at best and only a lot every two years. In addition, the tax authorities only assess properties at the edge of the street. They do not have access to the interior of the house.

Another tool that hard money lenders use to value property is the Broker’s Price Opinion (BPO). A BPO is an appraisal by a broker of the value of the property. However, hard money lenders are also skeptical of these valuations, as brokers tend to overvalue properties in the hopes of a higher listing fee and an optimistic view of the local real estate market.

The value a lender places on a property has nothing to do with the purchase price you negotiated. It will be based on what the market values ​​the property at.

Ultimately, hard money lenders take all the information available to make an informed decision. They ask themselves questions like, “If the market hits a bottom, will I be able to get back the money loaned for the property?” Will I take advantage of this property even if I have to regain control of it in the event of a default?

To fully protect themselves, hard money lenders typically only lend 50-70% of the property’s value. As an investor, you will either need to negotiate a purchase price within this range or have additional financing available. Also, keep in mind that a hard money lender knows the repair and rollover business as well as any investor. They will want to know your exact plan for the property and will need to approve it along with the value of the property.

Most hard money lenders make short term loans on average between six months and two years. Generally, the biggest benefit of hard money is a quick close. Since there is no credit check, closing can take place a few days after an application is approved. If you have established a relationship with a hard money lender, the loans can be funded within hours. An investor interested in hard money should know what documents will be needed to approve the application.

If your ducks aren’t all lined up, funding may take a few weeks, but as little as three to five days are possible. If you have a trusting relationship with a hard money lender, you may be able to have funds within 24-72 hours.

Hard money is not for everyone (or even most people). The only reason to take out this type of loan is a great investment that requires a quick response. It can cost you 10% of the loan amount for interest and loan fees. But when you can earn 30% on a deal in a matter of weeks or months, paying more for quick finance is probably worth it. When a good investment won’t wait, a hard money loan can always be the best answer.

What else do you think investors need to know about hard money loans? Share your ideas and experiences by leaving a comment.

Additionally, our weekly Ask Brian column welcomes questions from readers of all levels of experience with residential real estate. Please send your questions, inquiries, or story ideas to

photo by Frédéric warren to Unsplash

Author Biography: Brian Kline has been investing in real estate for over 35 years and has been writing about real estate investing for 12 years. He also draws on more than 30 years of business experience, including 12 years as a director at Boeing Aircraft Company. Brian currently lives in Lake Cushman, Washington. A vacation destination, close to a national and the Pacific Ocean.

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financial statement, try to get one that will help you, currently there really is a quantity Sat, 18 Sep 2021 02:51:50 +0000 financial statement, try to get one that will help you, currently there really is a quantity

Let me be clear on Payday Advances and Zero Funding Assessments

Cyberspace unsecured debt financing is considered to be the fast growing loan options that women and men using accounts definitely need to come up with. Despite the use of people who are many, the country drops in individual bankruptcies and real estate investment real estate foreclosures, the payday loan continues to be ideal below just to help. For this reason, whenever we introduce security into an overall financial statement, you should find one that will help you, as there are actually plenty of options available for your needs.

Most people find it hard to see this economy without a credit score. You will find what can be posted to make your overall credit score work, but no credit rating rating is provided by other people, make sure these people are willing to give. The main advantage is that you are likely to have money on what the credit gets.

To know what improvement money is experienced, you get the rate which will definitely be generally useful, you have to know how fast you profit from the money. Normally you will afford to get. At other times, you might have to shell out increasing levels of fascination, but only get the cash you might need within a time frame that might be limited.

Home or Property Mortgage Looks Up Past Debt and Credit Score to Determine How Much Money is If Someone Help Do Regarding Financing Advancement Without Assessment credit reliability. The interest expense is just not the issue which is only the expense concern, in fact certainly one of those in particular. You can make you have to think about wanting to bring unsecured financing to a business, it will not check your credit rating if you yourself have a good credit score but demand the money afterwards.

You need to look for creditors who can return money without checking your credit score or providing a mark that is certainly destructive. But, you need to know what a financial payday company intends to do before trying to find this type of financing. This will allow you to determine whether or not it is recommended to take these funds from the company store.

The purpose of the salary needs men and women available, which is money, it is quick.

The goal of payday is to give men and women easy finances. Really it is considered to be in short term emergency income needs as well as dabei which turn out to be really repeating you resources that you appreciate within one. Generally legal payday advance loans while the basis of beds for those functional a lack of verification of obtaining the financing is really because you will be using dollars that you will get exactly the same you, despite this the interest is enough. big.

You will be charged from two hundred dollars to two thousand dollars, depending on the monthly interest if you want to get a payday loan without a credit check. Since salary funding requires someone to prove that you might find yourself in a high demand for money, you need to prove that you are done and that you are generally used up. Since these bonds are usually required for lending companies, you will need to get a home loan from everyone first.

There are many other productions among these loans looking for someone to express proof function and start receiving credit referrals, but payday debt without asset valuation is quick and easy. It is important to provide your own subject, the amount of cultural shields, the concept in your, a check or purchase stub as well as bank accounts so that a person needs the specific number of jingling coins. If it is filled out by someone and sends it to the loan company, it goes to mobile and validates the top destinations provided and finds the money placed for you personally.

Those transfer bills certainly can’t think of getting any approaches to the money you were given. Visitors find that the loan options have a very reasonable desire since they actually could. Never the money you will need, you have to know what you are really doing if you want the finances to end up getting the real way which is the best to get the money.

We recognize that payday advances are not the answer once you have a credit rating that is undoubtedly affordable after that. Try to stop the capital of exactly what with an economic commitment for a while as they might cause a person to get an adverse credit report and get yours. It is better that they are sure than regrettable.

The most practical method to make sure that you are likely to get the maximum benefits contract which is a successful salary without consumer credit score assessment is to go online to review numerous services. that will help an individual. You can receive a significantly better deal and you will certainly move very quickly without having to focus on the need to reap the profits.

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Crypto investors pledge their assets for home loans and cars Fri, 17 Sep 2021 14:31:14 +0000

Crypto investors are pledging their digital assets to buy homes, cars and more crypto by guaranteeing loans through crypto exchanges or crypto lending platforms which are fast becoming the new craze in cryptoverse.

Cryptocurrencies such as Bitcoin and Ether are used as loan collateral by investors who pledge part of their crypto assets as collateral for the money they borrow.

Lenders accept deposits in the form of cryptocurrencies, which earn higher than average interest rates. Crypto deposits are used to fund loans to borrowers who repay them over time.

Cryptocurrency lenders are taking an approach similar to traditional banks, but unlike banks, which are regulated by the government and are required to have deposit reserves to protect them from bad debt, crypto lenders are not regulated to the same standards.

Cryptocurrency-backed borrowers retain ownership of the assets they promise to the lender while repaying the loan. However, they risk losing a significant portion of their collateral if they don’t make their payments, as one would with a secured loan such as a car loan or mortgage.

These new loans come in many forms. Borrowers can get dollars or other traditional currencies, or stablecoins – any cryptocurrency designed to have a relatively stable price – depending on the lender.

Some people go for crypto loans because they don’t want to use their crypto assets soon, aka hodl.

“The idea is to turn some of your digital assets into real profits so you can’t lose them” says Antoni Trentchev, co-founder and managing partner of crypto lender Nexo Capital Inc.

Listen to GHOGH with Jamarlin martin | Episode 74: Jamarlin Martin Jamarlin returns for a new season of the GHOGH podcast to discuss Bitcoin, bubbles and Biden. He talks about the risk factors for Bitcoin as an investment asset, including origin risk, speculative market structure, regulation, and environment. Are the financial markets at large in a massive speculative bubble?

Other people consider taking crypto loans because of the benefits they offer, such as low interest rates, quick funding, choice of loan currency, and no credit check. Crypto lending platforms rarely check borrowers’ credit history when they apply for a loan, which makes it attractive to people with a bad credit history.

Some lenders will ask their borrowers to get a loan with non-custodial crypto. These are assets held in a digital wallet that is not linked to an exchange. However, most lenders require borrowers to maintain their digital assets with the platform to be eligible.

Crypto loans are largely affected by margin calls, which occur when the value of the collateral falls below a certain threshold. When this happens, the lender requires the lender to increase their crypto holdings to maintain the loan.

Sometimes the lender may sell some of the crypto assets to reduce the borrower’s fees. loan to value ratio – the ratio between the amount of the loan and the value of the guarantee assessed by the lender. The likelihood of this happening is high due to the short-term volatility of cryptocurrencies.

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]]> Lower Mortgage Loans: Some loan rates are actually getting cheaper. But for how long ? Thu, 16 Sep 2021 11:00:00 +0000

Welcome to Mortgage Rundown, a quick look at what’s happening in Canada’s mortgage rate landscape from a mortgage strategist Robert mclister.

Where are these higher rates?

Fixed mortgage rates were now supposed to be higher. The popular rhetoric was that a recovery-driven recovery would increase bond yields and mortgage costs by this fall. If you’re wondering why this hasn’t happened yet, blame it on the wave – the fourth wave of COVID.

But chances are the higher rates aren’t derailed, they’re just delayed. Average core inflation expectations are influencing interest rates, and average core inflation has just climbed – again. The latest data shows it is up to 2.57% thanks to the biggest supply disruption in decades. Economists say it is near a high, but if it exceeds 2.73% it will be a 30-year high.

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However, it is not inflation that we need to worry about today. It’s inflation in a year or two that will determine how much you have to pay to borrow. Indeed, bond yields – a leading indicator of mortgage rates – anticipate price increases. Yields always jump ahead if inflation looks threatening.

Here’s what that means in English: If you’re hoping today’s mortgage rates don’t rise further, you’re hoping the five-year Canadian bond yield stays below its peak of 1.07% in March.

But we also have to be real. As the recovery takes hold, rates should eventually rise – despite the Bank of Canada’s mantra that above target inflation is ‘transient’.

Liberal Housing Commitment: What Makes No Sense, What Makes Sense and What Canadians Really Need

Mortgage rates are falling

As Canada waits for a sustained recovery that never seems to happen, banks are getting slightly more generous with their mortgage rates. The lowest five-year discretionary fixed rates have fallen 0.05 percentage points in recent weeks, to 2.09% or less.

“Discretionary Rates” are unannounced bank rates available to qualified borrowers, usually after some negotiation.

In contrast, the lowest discretionary variable rates are around 1.29%, which is prime minus 1.16%.

That initial 0.8 percentage point saving over five-year fixed rates is terribly tempting, especially if you think that rising prices and rising rates will weigh on over-indebted consumers and slow the economy. If that happens, the variable rate hike could be limited to four or five rate hikes, which is exactly what the bond market is predicting for the next three years.

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Lowest mortgage rates announced nationwide

Term Insured Not insured
1 year fixed 2.09% 2.19%
2 years fixed 1.74% 1.74%
3 years fixed 1.87% 1.87%
4 years fixed 1.99% 1.99%
5 years fixed 1.99% 2.14%
7 years fixed 2.64% 2.64%
10 years fixed 2.74% 2.74%
variable over 5 years 0.99% 1.34%
HELOC N / A 2.35%


In the attached table, insured rates apply to those who buy with less than 20% down payment or to those who transfer a pre-existing insured mortgage to a new lender. Uninsured mortgage rates apply to all other owner-occupied finance for qualified borrowers.

Fix or float?

If the above scenario comes true and the overnight rate in Canada peaks at around 1.5%, the math is clear. Variable mortgages are the winners based on rate simulations. According to Bloomberg data, they will earn based on the projected interest costs over five years and they will earn penalties. Variable rate prepayment penalties are generally less expensive than fixed term penalties.

But assumptions rarely go as planned. Much could change before the second half of next year, when the Bank of Canada plans its first rate hike. Take, for example, the inflation expectations of Canadian businesses. Currently, these expectations are the highest on record. If they get worse, the risk of rate hikes increases, especially if we get: consumption.

If this worries you, and it probably should if you are less financially resilient, then five-year fixed rates of 1.99% or less are still a historic good deal, especially if you choose a fair penalty lender.

New switching option

Bank of Nova Scotia is killing big bank competitors with its “eHOME” online mortgage. It has the easiest app, free valuations, and the best bank rates I’ve seen on the web.

Note: You need to log in to purchase its tariffs, but no credit check is required, unlike other intrusive banking apps.

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Now, after two years, Scotiabank has opened eHOME to people transferring a mortgage from another lender. And as of this writing, his uninsured switch rate is 1.99% for uninsured five-year fixed rate mortgages, plus $ 500 cash back for switch fees. By comparison, the lowest five-year fixed rate reported by other major banks is 2.34%.

To switch to Scotiabank using eHome, you must be creditworthy, have 20% or more equity (i.e. 80% of the loan value or less) and the mortgage must relate to a house occupied by its owner. Unlike most banks, you can do it all online. The only in-person visit is when you sign the closing documents. If you need help, you can call or text your dedicated mortgage advisor, who doesn’t get paid on a commission like most mortgage specialists.

However, eHOME is not for everyone. On the one hand, you can only get an incidental mortgage, which some don’t like due to the additional transfer fees at maturity. (An incidental mortgage loan allows you to re-borrow without having to hire a lawyer to re-register the mortgage.) Second, the big banks – including Scotiabank – have potentially worse interest rate differential penalties than the major banks. other lenders. This is a serious factor if you go for a fixed solution and then cancel the mortgage early.

Robert McLister is a mortgage writer at DOTCA RATE. You can follow him on Twitter at @RobMcLister.

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Dearborn Heights Offers Interest-Free Loans for Owner-Occupied Homes Damaged by Flood – Press and Guide Wed, 15 Sep 2021 18:47:52 +0000

The City of Dearborn Heights Residential Rehabilitation Program uses funds from the Department of Housing and Urban Development to deliver an assistance program for low and moderate income residents based on the city’s rehabilitation standards.

Funding from these loans can be used to make flood-related repairs not covered by FEMA or Wayne County assistance programs.

Mayor Bill Bazzi said the loan program should help residents who otherwise wouldn’t have gotten the help they needed.