Why Us?
- We offer a wide range of real estate financing solutions.
- We specialize in fast approvals on all loan types.
- We promise to provide you with the best possible terms.
- Because our representatives are experienced experts and can help you make the right decision.
- We offer loans to those with serious credit problems (foreclosure, bankruptcy, judgments, liens and charge-offs).
- We search investors for the best available loan products and rates.
- We have great rates for all credit grades and specialized loan solutions for unique credit situations.
Loan Types & Services Offered:
We've Got Just The Right Loan:
- Construction-To-Permanent Loans - This one-time close loan gets you all of the financing you need--construction loan to build your home and permanent loan to live in it for years to come. In other words, when your dream home is finished, you don't have to apply for another loan and pay another set of closing fees.
- Lot Loans - Our Lot Loan lets you purchase a residential lot for future construction of your primary residence or second home. When you are ready to build, we will help you with your Construction-to-Permanent Loan.
- Bridge Financing - Don't wait to sell your old home before building your dream home. Access equity in your current home to use as the down payment on a Construction-To-Permanent Loan.
****FRACTIONAL MORTGAGE****
What is a Fractional Mortgage?
Fractional ownership of a vacation home or condominium is an idea whose time has come. Fractional ownership is one of the fastest growing segments of the real estate industry that allows both affluent and middle class buyers exciting new investment opportunities. This form of ownership provides the borrower with: 1) tax benefits, 2) the ability to transfer their share of the deeded ownership, 3) the opportunity to invest the difference between buying a quarter share versus purchasing the entire unit and 4) the opportunity to buy multiple vacation homes in other locations.
Fractional vacation homes are found in prime resort locations such as year-round ski and summer resorts, oceanfront and golf resorts. These properties often offer the amenities of a luxury home and depending on where the property is located, a private residence club, hotel suite, private residence or town home, you may be afforded with a multitude of luxuries of a first-class hotel.
Owners typically purchase shares in the denominations of: 1/4 shares - 12 weeks, 1/8 shares - 6 weeks, 1/10 shares - 5 weeks or 1/12 shares - 4 weeks. Typically, the smaller the higher the "cost" for whole ownership, (i.e.: 1/4 share = $200,000 or $800,000 for the whole condo. Sold as a 1/10 share for $100,000 or $1mm for the same condo).
Fractional Ownership, not to be confused with Timeshare
While Fractional ownership is referred to in terms of shares, ultimately each share can be broken down into weeks. For this reason the terms Fractional ownership and Timeshare are often substituted incorrectly for each other. Fractional ownership provides for much, much more than a Timeshare vacation. The major benefits attributed to Fractional ownership are significant: 1) all the rights associated with deeded ownership, 2) a greater chance of property appreciation and return on investment and 3) First class amenities and services. For these reasons the cost of a fractional property is substantially higher than that of a timeshare. Fractional properties can vary in cost from $ 175,000 to multi million dollar ranges. Please note that some state statutes make no differentiation between fractional and timeshare ownership.
Looking to fractionalize a single family vacation home for Investment purposes?
We can refer you and your clients to an outside source that will: assist you in how to fractionally purchase and own a single family vacation home or condo at market value, provide property management services and access to a database of buyers also looking to purchase a fractional vacation home. Ask about becoming a part of this nationwide referral network.
Partial Lien Release Loans now available!!! These loans are only available for fractional properties. Call more information.
- TIP #1: REMEMBER, A FRACTIONAL LOAN IS FOR A SECOND OR VACATION HOME LOCATED IN A RESORT AREA. DO YOUR REALTORS HAVE HOMES WHERE THE LISTING IS ABOUT TO EXPIRE AND MIGHT LOSE THE LISTING TO ANOTHER REALTOR? WELL, WHY DON'T YOU SUGGEST THAT THE REALTOR PROMOTE TO THE SELLER THAT THEY ALSO OFFER THE OPTION TO SIMULTANEOUSLY LIST WITH THE OPTION OF BEING SOLD IN FRACTIONS?
- TIP # 2: WHEN A HOME IS BEING SOLD IN FRACTIONS, THE HOME IS CONSIDERED TO HAVE A HIGHER BETTER USAGE AND CAN APPRAISE FOR UP TO 40% GREATER THAN IF BEING SOLD AS IF WHOLE OWNERSHIP. THE AVERAGE APPRECIATION IS 10-25% GREATER THAN WHOLE OWNERSHIP.
- Tip # 3: DO YOU BELONG TO A SKI CLUB OR GROUP THAT TRAVELS TOGETHER AND HAS A BLOG OR WEBSITE? WRITE AN ARTICLE SEEING IF ANYONE HAS AN INTEREST IN PURCHASING A FRACTIONAL SHARE IN A HOME AT A SKI MOUNTAIN OR AT THE SHORE THAT THE GROUP FREQUENTLY TRAVELS TO. THIS WILL HELP YOU "CREATE" A MARKET AND DEVELOP PROSPECTS IF THE GROUP IS INTERESTED. THIS WILL ALSO HELP TO BUILD NEW RELATIONSHIPS WITH REALTORS ETC.
DID YOU KNOW?
- FRACTIONALIZING A PROPERTY CAN HELP TO REVITALIZE A SOFT MARKET.
- FRACTIONAL MORTGAGES ARE NOT AFFECTED BY THE "CREDIT CRUNCH" AS THEY ARE PORTFOLIO LOANS.
- THE FRACTIONAL MARKET IS BURGEONING ACROSS THE COUNTRY, THERE ARE PROBABLY SEVERAL PROJECTS ALREADY IN YOUR AREA!
****REVERSE MORTGAGE****
There are 3 types of Reverse Mortgages:
Home Equity Conversion Mortgage (HECM) Reverse Mortgages
A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage. Ninety-five percent of all reverse mortgages are HECMs. The Federal Housing Administration (FHA) sets limits on how much a HECM reverse mortgage lender may lend you—based on your age, your home's value and location—and what your total loan costs will be. HECM loans give you a wide choice in how you may receive the cash from the reverse mortgage.
Fannie Mae Home Keeper® Reverse Mortgage
A Home Keeper® reverse mortgage is Fannie Mae's conventional market alternative to the Home Equity Conversion Mortgage (HECM). It is a government-sponsored enterprise program and works like a HECM loan in many ways. However, a Home Keeper® reverse mortgage addresses a few needs that are not met by HECM loans, such as individuals with higher property values, condominium owners, and seniors wishing to use a reverse mortgage to purchase a new home.
Financial Freedom Cash Account Advantage® Plan
Financial Freedom's proprietary Cash Account Advantage Plan reverse mortgages have been designed especially for senior with substantial home equity or higher-valued homes. As a result, the amount of money available to the homeowner may be substantially greater with a Cash Account Advantage Plan reverse mortgage than with other options.
Jeff Hamilton
