| Inland Mortgage Capital Corporation Funds a $14.4 Million Loan for ...
OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Mortgage Capital Corporation funded a $14.4 million loan for the development of a 36,664-square-foot retail center in Las Vegas. This ground-up construction project, located at the southwest corner of Blue Diamond Boulevard and Cimarron Road will have 36,664 square feet of retail space situated in two retail buildings and three developable outlots. The project is located in the Mountains Gate planned community and will feature a Tuscan façade in keeping with that community's overall design. The project is situated at the West Gate of Mountains Gate, in the midst of a blossoming retail corridor along Blue Diamond Boulevard. Inland Mortgage Capital Corporation funded a 15-month, first mortgage loan for 100 percent of total costs to develop the property.
Using A Second Mortgage For An 80-20 No Money Down Home Purchase Loan
Editors Note: Many people find it hard to come up with the down payment for a home purchase. There are ways to get a loan with no money down. Here is an article on the subject: Many renters want to own their own home, but they simply don't have the down payment to make the purchase. If you're able to afford a house payment as much as your monthly rent, an 80-20 no money down loan could get you out of the rent trap. (80% first mortgage - 20% second mortgage) "It allows people to buy without a down payment, or for those people who would prefer not to touch their savings to get into a house," says mortgage expert. "What we're seeing is a lot of young professionals," he adds. "People who have gotten out of college and have good jobs. They have good credit, but they haven't had the opportunity to accumulate a lot of savings." The 80-20 loans are also known as piggyback loans.
Subprime Mortgages And The Refinancing Boom - Options Are Still ...
Editors Note: This is a great interview with someone that is in the industry and knows the situation sub-prime lenders are faced with. Steven Frank answers some questions potential barrowers may have, including whether to refinance their first mortgage, get a second or apply for a home equity line of credit. Here is the article: There are more than 19,000 mortgage companies in the U.S. and some of the largest and most reputable of them specialize in subprime mortgage refinancing. Steven Frank, Senior Vice President of Marketing at FlexPoint Funding identifies a subprime borrower as “someone with a FICO score below 620. He or she will pay between 1.5% and 2% higher interest for a mortgage, but there is no shortage of money or willing lenders in the subprime mortgage market." .
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