About- Portfolio loans – Non Bank, Self Employed , Non Conventional in TEXAS
Our Story – Monty Busch
This is my site. I have spent the last 17 years originating residential and commercial mortgages. While we originate all conventional ( FANNIE, VA,USDA) loans, We have extensive experience and specialize in originating, portfolio, non conventional – non QM, investment property loans and private real estate loans (we own Urban Coyote FUNDING and DB Capital (non bank landlord loans).
I am an experienced investor myself having bought and sold over 25 homes in the last 17 years. I am also an active landlord currently holding up to 15 properties. Transactions for non conventional loans and investors can be far more complicated than the ordinary loan for the owner occupier who qualifies based on great credit and provable income. Our real world experience or helping structure these loans will give me an edge in finding the best situation – the best loan for my clients.
HOW DO WE REVIEW AND PLACE LOANS:
Your first choice is conventional (Fannie Mae or Freddie Mac), best rates – why? The Govt. insures the loan (or a portion). These are very rigid in underwriting and require certain Debt to income ratios, no recent bk, short sell, mortgage lates, etc…
Next, small banks and other non-bank portfolio loans (meaning , they hold the loans ). Underwriting puts more emphasis on the asset (does it cash flow -does the rent cover the mortgage and expenses- simple)
Third choice – our “in house” hard money, used mostly to acquire for fix and flip or for acquisition and rehab before converting to one of the above options.
However, we have loans from 9% for 5 years (interest only and 30 year amortization) for those that don’t meet the above.
How do we work – (the long term)?
We have relationships with various small banks, insurance companies and other non-bank funds.
Loan Reason (purchase,refinance, cash, other, why you need the loan…)
Your Loan details: (loan amount and property details):
Reason you may not qualify conventional :
explanation for any credit problems (BK, foreclosure, other …be specific)
do you know credit score:
Monty Busch NMLS 305872