Residential Mortgages | Commercial Mortgages | Credit Score

Purchase - Across the board, home prices are down, and with the willingness of sellers to negotiate their asking prices, the ball is completely in the buyer’s court.  Granted, getting a loan today is a whole new ballgame, don’t let the news reports about loan qualification obstacles and all that negative press scare you away.  If you are interested in buying a home, now is a great time.  To successfully navigate through the home-buying process, you do need to understand all the programs and options that are currently out there so you can select the one that best fits your needs.  What may have been the rules six months ago may no longer apply today.

You don’t have to go it alone.  Krebs Financial is here to guide you through the process step-by-step.  We stay informed and on top of the latest banking and lending trends, including an in-depth understanding of the latest changes to loan qualification guidelines, interest rates and loan programs.  We seek out the information on lenders’ guideline changes, and additions to government programs such as FHA (Federal Housing Association).  While a traditional bank or lending institution may decline your loan application, an FHA loan can be approved, which is guaranteed by the government in the event of default.


Refinance - Have you sought to refinance but were turned down?  Don’t give up just yet.  In today’s quick-changing lending environment that includes the introduction of various federal assistance programs, you may still be able to refinance to lower your payments and/or get the cash out that you need.  We seek out the information on changes to lenders’ guidelines, and additions to government-sponsored program.  Depending on your individual situation, there may be some refinancing options available.

Interest rates and loan underwriting guidelines literally change by the minute. What you think you may understand about the refinancing may no longer apply in this ever changing economy.  Contact Krebs Financial to discuss your situation and we will work hard to provide you with refinancing options and solutions.  


Home Equity Line of Credit (HELOC) - If you have equity in your home and would like to take out a HELOC, but it seems that lenders have all but closed up their credit and lending shops, don’t panic, there may still be options available for your situation.  Generally, banks base their refinance approvals on loan-to-value (LTV) standards, which have been tightened to reduce the risk of borrower defaults.  In addition, if the value of your home has declined or properties in your area have gone down, you are looking at less equity, and therefore may no longer qualify based on the banks’ tightened LTVs.

If you are seeking a HELOC or your HELOC request was denied, contact us and we will evaluate your situation to determine your options.


Hard Equity - Many hard money mortgages are made by private investors. The good thing about hard equity is that it is flexible, in that it’s not based on whether you have a job or can pay for it, and your credit score is not important, as the loan is secured by the value of the collateral property, they are lending to you based on the quality of the real estate involved and the equity available.  You may find private lenders going up to 85% financing.

Obtaining funds through hard equity can be tricky and involves some risk (i.e., higher interest rates, fees).  So when it comes to hard equity, the good thing is that it is pretty much available for every deal, but it is important to make sure you know who you are dealing with.  At Krebs Financial, we do the screening for you.  We evaluate your needs and match you only with hard equity lenders that meet our standards and meet your needs.


Residential Mortgages - whether you’re a first-time homebuyer, in the market for a second home, or a vacation home, it is important to find the best loan and rate that fit your needs, and then more importantly, get qualified and approved.  Krebs Financial can make the process easier by identifying the programs that best suit your needs, then walking you through the process to get you approved.


Commercial Mortgages - Unlike residential mortgages where the lender looks at the borrower, in commercial mortgages, the lender looks at the property itself.  The building becomes the primary factor, and the borrower becomes secondary.  The components that lenders look for in commercial properties are completely different from that of residential properties.

Krebs Financial understands commercial loan requirements and can help you get the financing you need for your commercial property, whether it’s a multi-family building or a multi-million dollar complex.