Get Rich Education 154: Specialty Mortgage Loan Products (After 10 Properties) with Ridge Lending Group’s Caeli Ridge
#154: After you have 10 financed residential properties and you want more, we discuss your options.
These Specialty Loan Products are exciting. Example: 25% down, 5.9% interest rate today, 30-year amortization.
We learn this today from Ridge Lending Group President and CEO Caeli Ridge after she first reviews qualification criteria for the first 10.
I also discuss a simple way for you to increase your Cash-On-Cash Return with no extra money out of your pocket.
We discuss what’s changed with qualification requirements for your debt-to-income ratio, reserves, LLCs, liquidity, cash-out refinance limits and more.
I bring you today’s show from San Jose, Costa Rica.
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Listen to this week’s show and learn:
01:17 How to increase your Cash-On-Cash Return.
03:42 High closing cost states: TX, FL, northeastern states. Low closing costs: MO, IN, AZ, AL.
07:11 Conventional loans: DTI 50% max., LLC change, liquidity, reserves.
15:14 Interest rates.
17:02 Cash-out refinance limits.
21:50 Specialty Loan Products (beyond 10 financed properties): 25% down, 30-year fixed amortization, 5.9% interest rate today (wow!), no limit to the number of properties, discount points.
27:18 Foreign buyers: 7.99% rate today, 5-year ARM, 30-year amortization.
29:03 Your tax return.
30:31 Today’s lending environment.
32:43 RidgeLendingGroup.com specializes in your income property loan qualification.
Resources Mentioned: