Great article by Jann Swanson at Mortgage News Daily.
By: Jann Swanson
Another Massive Jump in Builder Confidence
Jul 16 2020, 10:23AM
Economists talk about the potential for a V shaped recovery from the pandemic and that is exactly the pattern displayed by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI, a measure of builder confidence in the market for newly constructed homes, rose 14 points this month, completing the upward leg of the V and returning to its pre-pandemic March reading of 72. The index had plummeted 42 points in April before staging a three-month comeback.
Recap of our Loan Products:
- Stated Income Loans (No Tax Returns, no W-2s, No P&L) up to $5M
- Bank Statement Income Loans (Great Bank Statement Program for business owners and self employed)
- Hard Money Loans (As low as 20% down / minimal documentation) Fund in 7-10 days.
- Flipper Loans (Flip a property with one of our many options)
- Line of Credit
- 100% Financing (cross collateralize)
- Foreign Nationals Loans (no social security or residency required)
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom home’s and commercial ground up to $500M.
- 2nd Position Loans up to $5M
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s with NO MI up to $2.5M
- Manufactured Housing / Mobile Homes (20% down / 620+ credit score)
- Acreage Properties
- Commercial Loans up to $500M
- 5% down Jumbo (Up to $2M Lender paid PMI)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $484,350)
- High Balance Conforming aka Super Conforming (from $484,350-$726,525)
- Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm
- FHA, VA, USDA
- Reverse mortgages up to $10 Million Value
We recently saw a report that indicated builders confidence crushed expectations and now we see another massive jump in builder confidence!