323: How To Qualify For A Mortgage Today with Caeli Ridge

How To Qualify For A Mortgage Today with Caeli Ridge

The deal is the debt because mortgage rates are at all-time lows. People are buying property like crazy.

Learn why 30-year fixed rate mortgages are a great deal for the borrower and a bad deal for the lender.

Caeli Ridge, President of Ridge Lending Group, tells us about qualifying for income property loans today.

Your first 10 loans single / 20 loans married for 1-4 unit properties have the best rates and terms: 20-25% down, 50% max. DTI, super low interest rates.

For more loans, called “non-QM” loans: $135K minimum size, 75% LTV, higher interest rates.

Opinion: Fannie & Freddie will stay in conservatorship, keeping mortgage rates low.

Conforming loan limits will increase from $510,400 to $548,250 (SFH), and higher for 2-4 unit properties.

Rate & term refinances – SFH: 80% LTV | 2-4 unit: 75% LTV

Cash out refinance terms – SFH: 75% LTV | 2-4 unit: 70% LTV

We get an update on appraisal climate. I educate you on the three appraisal approaches: cost, income, comparison.

Ridge does loans in 43 of the 50 states, all except: AK, ME, ND, NY, VT, WV, WY.

Resources Mentioned >

Resources Mentioned: Mortgage Loans: RidgeLendingGroup.com Phone: (855)747-4343  E-mail: info@ridgelendingroup.com | Top Properties & Providers: GREturnkey.com | EQRPs: text “EQRP” in ALL CAPS to 72000 or: eQRP.co | By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. | New Construction Turnkey Property: CashFlowAndGrowth.com | Best Financial Education: GetRichEducation.com | Follow us on Instagram: @getricheducation | Keith’s personal Instagram: @keithweinhold

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