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Increase your closing rate with MBA! 

A turbulent Housing Market can be better managed by professionals who are experienced and go above and beyond on every transaction.  With existing home sales down from previous months they were still significantly higher than a year earlier. What can we do to help home sales???  The answer lies in the numbers!  There is always constant tug and pull on the market and this year we saw the most favorable affordability conditions since 1970; an abundance of homes to choose from and extremely low interest rates.  However, many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers.  Those potential buyers represent the difference between the current market and a much more robust housing market that could stimulate a lot of careers.  Thirty eight percent of contracts experienced failures due. This is an unacceptably high number of potential home buyers that are unable to complete transactions. 

On the contrary to the market, our dedicated team of professionals has allowed us to meet and exceed standards with a 93% closing rate on purchases. That's why at MBA Mortgage Corp. we take great pride in providing mortgage solutions tailored to meet the long term financial needs of our clients. Our experienced mortgage professionals ensure that you are confident about the application process, while at the same time your clients experience the very best service and best possible rates.  That means that when you hand your clients, that you have worked hard for, you can be assured that they are in the best possible hands.   Our dedicated team of experienced and well trained mortgage professionals will perform over the top research on every file which will enable us to make recommendations that you can be confident with.  

Cash buyers can recoup their money faster now!

Did you lose a client who had to purchase a home in cash because it either needed repairs, they could not get lending, or they were in a very competitive situation, and “cash was king”? If they could get their cash investment back quicker, would they buy another property and continue to use you as the realtor? Traditionally, most lenders will not let you do a cash out refinance for 6 months to 1 year.  MBA Mortgage can now offer you a cash out refinance to recoup your investment right away!  No more waiting 6 months just to recoup 85% of the purchase price or 1 year to get 85% of the actual appraised value.  Recoup your money now in less than 6 months.  Our portfolio product is one of a kind and offers some of the most competitive interest rates out there. 

Call your MBA Mortgage Loan Officer Today to find out how you can add more value added service to your clients!  This is a great reason to call those clients and stay in touch and offer them something that they may really need!  

FHA and FHA 203k will finance mixed use properties!!

Have you been looking to purchase a home that you want to run a business out of?

Are you looking to purchase or refinance a mixed use home that you want to rehabilitate?

You can get low money down, low interest rate loan, and make your business and your home one and the same!! See some of the guidelines below or give us a call to find out more information!!

Mixed-used properties are allowed with the following restrictions:

  • Must be single family detached owner-occupied dwelling
  • Must represent a legal, permissible use of the property under the local zoning requirements;
  • Borrower must be both the owner and the operator of the business.
  • Property must be primarily residential in nature;
  • There may not be any structural changes that affect the marketability of the property;
  • Market value of the property must be primarily a function of its residential characteristics rather than the business use of any special-use modifications that were made.
  • Mixed-use properties in urban areas where the business is at street level and the living quarters are either upstairs or behind the business are also acceptable. The appraisal should illustrate through use of similar and approximate comparable sales that this type of residential/business use is common to the area.
  • Also eligible: condominium projects that do not have more than 20% of the floor space of the common areas devoted to commercial retail space, subject to credit policy verification that the investors will still accept this type of project.
  • A 203(k) can be used on a "mixed use residential property provided the floor space used for commercial purposes does not exceed... 25% for a one story building; 33% for a three story building and 49% for a two-story building. The rehabilitation funds can only be used for the residential functions of the dwelling and areas to access the residential part of the property site.