Gelt Financial provides non QM mortgages on residential investment properties. Hear more from Jack and Michael on how to get started. When your bank says NO, we say YES!
“Jack: Michael, we’re on. We want to tell everyone Gelt is doing, and really is always done. We’re in an alternative, and we’re doing non-QM mortgages. So, we’re doing non-agency loans for real estate investment properties.
Michael: Yes, basically a single-family investment property, right?
Jack: That’s correct.
Michael: Single-family homes investment property—
Jack: I think like 36-37 states?
Michael: Yup, 38.
Jack: 38, a good number. Up to 70 LTVs, rates starting at 11%. Uh, will go up—
Michael: Quick closing.
Jack: Quick closing.
Jack and Michael: No appraisal.
Jack: We both thought of that together, no appraisal. Uh, no minimum credit score.
Michael: It goes for foreclosure bailout, right? We can still do it there.
Jack: 100%.
Michael: Bankruptcy Exit. You cannot live there; you cannot lease it to yourself, nothing crazy like that. But single-family investment properties $250,000 value and greater.
Jack: That’s correct. A $100,000 mortgage or more, we’ll do an interest-only deal with up to a five-year balloon. Not the cheapest in the world, but I know the secondary market shut down. So, we’re a good alternative for residential investment properties. It also could be a mixed-use property or have some commercial.
Michael: Yeah, some people think it has to be one to four units to be commercial. I get called a lot asking, “Well, oh, my loan’s not commercial; it’s a single-family home.” But as long as its non-owner occupied, that’s commercial to us.
Jack: That’s right.
Michael: That’s investment property.
Jack: Check us out at geltfinancial.com, like wherever you’re seeing this, and if you have any questions, leave them or call us at 561-221-0900.
Michael: And if they want to do a Zoom video or something, we’d be happy to do something like that with their office. My extension is 110.
Jack: 110. Have a great day; take care.”
Category: Loan Programs
