Self-Employed, Multi-Business, Maddoff Victim Approved

It's difficult sometimes to get business owners approved based on income tax returns because there are so many business expenses written off to reduce reported income. This keeps many credit-worthy, self-employed borrowers from qualifying for the loans they want and deserve. This is one of the advantages of the All-in-One loan — all of our files are manually underwritten with underwriters and banks that know and understand complex business returns. Our lenders allow for exceptions in unique situations such as this borrower who was affected by a $700,000 investment in the Bernie Maddoff Ponzi scheme fraud.

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Compare the interest savings the All-in-One affords over current loans on this property.

The Effective Rate is the rate you would have to obtain with a 30-year fixed rate mortgage in order to pay the same amount of interest you achieve with the All-in-One Loan. The Breakeven Interest Rate is the rate you would have to average in order to pay the same amount of interest as the current liens on the property.

Remember, the maximum rate the All-in-One Loan can adjust during its 30-year term is 6% above the start rate — making this borrower's maximum rate 9.662%. Therefore, this borrower will come out ahead no matter where the interest rates move through the life of the All-in-One Loan.

This is the comparison loan data — it includes both lien types which comprise the client's current loan on the property.

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For any questions or to find out more, please don't hesitate to call us at 310-456-4494.