Alternative Financing Option for Real Property Investments with Trident Mortgage
August 28, 2008 by KevinD · Leave a Comment
In the real estate financing industry, a Shared Appreciation Mortgage (SAM) can be used as an “Alternative Financing” option for real property investments of all sizes, rather than being confined to the terms and conditions imposed upon most investors by traditional banks. With the opportunity to qualify for a mortgage — or obtain a larger mortgage with the same income — a SAM could provide opportunities that more traditional mortgage arrangements can’t, such as buying a home without using all your available cash, or simply buying a larger home.
But is SAM the right decision? Complicated mortgage loan structures aren’t for everybody, and a SAM may or may not be the product for you. For more information pertaining to a Shared Appreciation Mortgage, contact Trident Mortgage Company today. They will gladly assist you with answering all your questions and finding out what options are right for you. Read more
Need a Loan, but can’t Verify Income? No Worries with Trident Mortgage!
August 27, 2008 by KevinD · Leave a Comment
No Income Verification Loans is great for those who can’t verify income with traditional documentation, such as those who are self-employed or salaried. NIV loans are usually designed for those who have substantial savings for a down payment. NIV Loans come in all varieties and can be used to purchase a home or to refinance an existing mortgage.
Trident Mortgage Company offers an exceptional Menu of Loan Programs to borrowers with good credit histories who wish not to document their incomes. The income is “stated” but not verified, and this program is ideal for self-employed borrowers with complicated tax returns and financial statements. Salaried and retired borrowers are also eligible. Find out more information about Trident Mortgage and how they can help you today. 
Want to know more about commercial mortgages? Don’t wait long. Call Home Owners Loan Express!
August 26, 2008 by Raluca · Leave a Comment
Home Owners Loan Express would like to explain to you exactly what a commercial mortgage is and how it can help your business. A commercial mortgage is similar to a residential mortgage, except the collateral is a commercial building or other business real estate, not residential property. In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers. The borrower may be a partnership, incorporated business, or limited company, so assessment of the creditworthiness of the business can be more complicated than is the case with residential mortgages. Read more
See if a Jumbo Mortgage is Right for You with Trident Mortgage
August 26, 2008 by KevinD · Leave a Comment
Jumbo mortgage loans are loans above the maximum loan amount established by the programs offered by the government-chartered corporations Fannie Mae and Freddie Mac. Since these loans don’t conform to Fannie Mae and Freddie Mac underwriting guidelines, they cannot be sold to Fannie Mae or Freddie Mac.
Jumbo mortgage loans, generally priced slightly higher than conforming loans, range from $417,001 to $1 million or more. Trident Mortgage offers jumbo mortgage loans in a variety of terms for primary residences, vacation homes and investment properties. They also have limited and no documentation options available. See if a jumbo mortgage loan is right for you with Trident Mortgage today. Read more
Have Trident Mortgage Set You Up with a Balloon Mortgage
August 25, 2008 by KevinD · Leave a Comment
Typically, a balloon mortgage is a short-term, fixed-rate mortgage that offers a lower interest rate during the repayment period, but it requires a large lump-sum payment due at the end of a specified term.
Most mortgages are set up so that you pay off the loan gradually by the monthly payments that you make over the loan term (for example, 30 years). With a balloon mortgage, you make the same monthly payments that you would for a 30-year loan, but after a shorter period of time (for example, 7 years), the entire remaining balance of the loan is due.
When the balloon payment is due, you will usually need to refinance your loan to pay it or sell your home if you cannot refinance the loan. Read more
Creative Way to Purchase a Property with Trident Mortgage
August 22, 2008 by TJ · Leave a Comment
Wraparound mortgages are a creative, though rare, way to allow buyers to purchase a property without having to qualify for a loan or to pay closing costs. It allows you to obtain property to conduct business in while you work to build your business credit. Growing the business credit will allow you to qualify for larger business loans. The contract is made between the buyer and seller with the lender’s approval. Read more
Use an Adjustable Rate Mortgage to Your Advantage
August 20, 2008 by TJ · Leave a Comment
An adjustable-rate mortgage (ARM) from Trident Mortgage is a mortgage that has a rate that’s fixed for the first several years of the loan and then adjusts up or down according to financial markets. You can use an Adjustable Rate Mortgage to your advantage:
- Get a lower monthly payment than a fixed-rate loan. Adjustable-rate mortgages have lower rates, giving you more money to work with each month.
- The average homeowner moves every 7 to 9 years, so why get a 30-year mortgage? Get a lower monthly payment and get only the financing you need. Read more
Searching for a Home Equity Loan
August 19, 2008 by TJ · Leave a Comment
Searching for a Home Equity Loan but don’t know what kind of Home Equity Loan is right for you? Let Trident Mortgage help!A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home equity loan creates a lien against the borrower’s house, and reduces actual home equity. Read more
Need a New Construction Loan?
August 18, 2008 by TJ · Leave a Comment
New Construction loans from Trident mortgage allow you to build a new custom home while you still live in your existing home. A construction loan has a short life, as once the home is completed; the loan is converted to a regular mortgage. Construction loans are usually variable-rate loans priced at a spread to the prime rate or some other short-term interest rate. You, the contractor and the lender establish a draw schedule based on stages of construction, and interest is charged on the amount of money disbursed to date. Construction loan, unlike a mortgage, isn’t meant to be around for a long time.Get Your Questions About Conventional Loans Answered
August 14, 2008 by TJ · Leave a Comment
Trident Mortgage would like to answer a few simply questions about Conventional Loans:What are conventional loans?
They are loans that conform to Fannie-Mae and Freddie Mac guidelines. These are companies that buy mortgages on the secondary market.
What is the required down payment?
As little as 3% with good credit, but most conventional loans have at least 5% down. 10% is required for 2nd. homes and at least 10% for investment (also add an additional 1/2 to 1 1/2 to the interest rate). Read more
