Gelt Financial, LLC is pleased to announce and start to offer a second mortgage program on some income producing properties where we are offering a first mortgage on of 5% of the value of the property.
“Hello, this is Jack Miller of Gelt Financial. I hope you’re having a great day. We recognize that sometimes people just need more. Our borrowers are traditionally real estate investors, owners of small businesses, things of that nature, and sometimes in today’s world, you just need more than what people can offer.
So, in that vein, we’ve announced today that we are launching what we call a piggyback second mortgage. What we’re doing is for borrowers of income-producing properties that we approve, whatever loan amount we approve them for, we’re going to automatically offer them a second mortgage in the amount of 5% more of the appraised value. So, if the property appraises for $1,000,000 or it’s worth a million dollars, they’re qualified for an additional $50,000 in financing. We’re going to do a self-amortizing loan for them, three or five-year terms. If the property appraises for $500,000, if I do my math quickly in my head, that’s $25,000 additional financing for them.
We’re always looking to meet our borrower’s needs and our investor’s needs. That’s really all I have to say. Check us out at geltfinancial.com or call us at 561-221-0900 and speak to any of our great team today. We’re here to help you. And don’t forget, if you like this video, check, I forget whether it’s up above, but check off the check off, not you can check off, you like it too. I meant to say there’s a bell or a buzzer to subscribe to our channel. So please subscribe to our Channel and you get more videos every time we make them. Thanks, and have a great day. If you have any suggestions, send them to us. We’re always looking to hear how we can improve and be more competitive. Have a great day, my friends.”
Category: Loan Programs
Tag: second mortgage
