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Freelancer or Contractor? Try a 1099 Mortgage Loan

When purchasing or refinancing a home, not everybody is able to provide “traditional” income documentation, such W2s in order to qualify. Freelancers or independent contractors, whose income varies, might not be sure how to apply for a mortgage loan. But MBANC’s 1099 mortgage loans are designed specifically to…

Asset Based Loans: Qualify based on what you have, not on what you make

Maybe you’re retired, or newly divorced. Maybe you’re running a business that has plenty of assets, but low cash flow. You may be a perfect candidate for an asset-based loan.  Most lenders want to see income taxes statements or W2s. But if your monthly income doesn’t truly reflect…

Rising Interest Rates: What Are You Waiting For?

Another half-percent interest rate hike dominated last week’s news, and the Fed warned that we’ll see more of the same come June or July.Knowing this means knowing there are opportunity costs and monetary costs to delaying a purchase.  While naysayers advocate the timid approach, citing their fears of…

Mortgages for Foreign Nationals: Yes We Can

Many people without U.S. citizenship remain perpetual renters, because they believe the hurdles to home ownership are too high. In fact, there’s a clear path to becoming a homeowner through programs known as foreign national mortgages. Foreign nationals have historically felt discouraged from home ownership due to the…

Don’t Frenzy, Be Happy

A cooling real estate market might not be the news real estate agents want to hear, but for buyers, recent interest rate hikes are anticipated to make home buying less about loveletters and bidding wars, and more about shots for sharp-eyed opportunists. As the crowds get frightened away…

Tonight We’re Gonna Party Like It’s Not 2008

Image credit: MBANC Anyone over the age of 10 who works in real estate remembers the 2008 housing market crash, and anyone younger remembers the film version, The Big Short. Both events were traumatizing.  That lingering trauma is currently manifesting itself in a jittery populace with a heightened…

Bubble Talk, Exuberance, and FOMO

Until recently, not many people thought housing was in a bubble. But new data has Dallas Fed researchers noting “abnormal US housing market behavior,” “reasons for concern,” and calling housing prices “unhinged from fundamentals.”  One possible reason for price increases, the Fed blog said, is a sense of…

How to Win in a Competitive Market

Despite interest hikes and talk of a real estate slowdown, housing inventory is still low, and the market remains intensely competitive. But there are steps buyers can take to put themselves ahead of the pack and make an offer a seller can’t refuse.  https://www.youtube.com/watch?v=zCTAGW1LYfw The very first step…

Will the Ukraine crisis impact the real estate sector?

In addition to our worries about how the ongoing crisis in Ukraine is resulting in mounting loss of lives and stoking fears of a broader conflict, we have worries closer to home, about how the situation is impacting our economy. The Ukraine crisis began just as the U.S.…

Buyer hesitation from interest rate hikes? 

The Fed’s recent interest rate hike — their first since 2018 — may have home buyers pressing pause on their plans, but with more increases on the horizon, the time to buy is now. MBANC can help hesitant homebuyers get attractive loans, including our interest-only loan that keeps…

MBANC Extends Services to Nevada

MBANC is now in the great state of Nevada, serving borrowers and realtors to secure loans across a wide range of products! Fast, simple mortgage applications for self-employed borrowers and investors is MBANC’s specialty, and we are eager to provide our services and mortgage programs in Nevada The…

Tips for realtors to keep in touch with your investing clients

Lucrative income comes from referral and repeat clients. For real estate agents, repeat business is few and far between unless the buyers and sellers do so for part or all of their income. These real estate investors aren’t just another client – they’re the cream of the crop…

Why choose a mortgage bank over a credit union or traditional bank

Whether your own personal domicile, a vacation home, or an investment property, a home loan is a significant commitment. It comes with legal obligations and contracts, not to mention a years-long agreement to make payments on the property. However, not all lenders are alike, especially when your income…

Five tips before buying a vacation home

Do you have a tried-and-true destination where you default for every holiday weekend or week out of the office? Short-term rentals and resort stays get expensive quickly. If you feel as comfortable in your adopted city as you do at home, it might be time to consider purchasing…

What challenges does a self-employed borrower face for a mortgage?

For nearly seven in ten people, being self-employed is the ultimate dream for their working life. Currently, around 30% of Americans actually work for themselves with less than 10% making a go of it full-time. Although it’s an achievement worthy of celebrating, certain challenges come up when you…

More home buyers are generating rental income from their home

According to the latest Realtor.com survey, nearly 50% of American homeowners would entertain renting out extra space in their house. Almost one-third of homeowners have already tried generating rental income from their property, and around one-quarter would prefer to have long-term renters rather than transient occupants. As many…

Is an Asset Utilization Mortgage the solution you need?

Unlike the traditional 9-to-5 job with a paycheck every two weeks, more Americans than ever are in a unique financial position. A startup founder that sells off the company for six to eight figures, an entrepreneur who takes dividends but no salary, and a newly retired CEO find…

Look to first time home buyers for a bump in real estate sales

As the anomaly that is 2021 goes deeper into the second half, demand for mortgages has once again picked up. The Mortgage Bankers Association reported that applications for home purchases increased in August, and in an area that might be a bit of a surprise with the inflated…

Should you pay off your mortgage early?

Interior of modern living room with shelf unit and sofa For some homeowners, the long-term goal is to be free and clear of monthly mortgage payments as soon as possible. It’s a trend that Baby Boomers and Gen Xers have tended to pursue, especially since interest rates were…

Benefits of an interest-only mortgage

Every home buyer is faced with a question, whether it’s a first home loan or a mortgage on a luxury property: “Which mortgage product is right for me?” For traditional and jumbo loans alike, a 30-year fixed rate is one of the most popular options, paying down the…

How does a DSCR loan program work?

What is a DSCR loan? A debt service coverage ratio (DSCR) mortgage loan allows you to finance an investment property. While a traditional residential mortgage is based on your ability to personally cover the monthly payments with verifiable income like pay stubs, W-2s, tax returns, and bank statements,…

Eight things to look for in a rental property

It’s absolutely true that 90% of millionaires are involved in real estate in some way. It’s always been a great source of monthly income, and a great way to get started with investment properties is to buy a single-family home for its rental income potential.  The benefits are…

Can you get a Interest Only Mortgage?

Homeowners who have done well for themselves financially might be thinking about finding a larger or more luxurious home, and it’s definitely earned. But for many business-focused or investing-savvy individuals, making payments on both principal and interest limits their available cash flow and can restrict their ability to…

How you win with a 10-year Interest Only Jumbo Mortgage

Mortgage interest rates are in a constant state of flux – weekly, daily, and even hourly. When you apply for a mortgage whether you buy a home or refinance, you’re typically afforded a grace period where you’re guaranteed the rate you’ve been pre-approved at. It’s great since mortgage…

Scale real estate sales with investment properties

As a realtor, the main goal is often to find a home buyer a long-term home that fits their needs. The other equally important component is selling their home for them. It’s a worthy career that helps people with their goals of owning or selling a house, and…

What wealthy homebuyers want from their real estate agent

A new generation – Millennials – have arrived on the real estate market and are actively buying and selling properties, both for income-earning reasons and for personal residences. With high six-figure or seven-figure-plus incomes, luxury real estate is steadily attracting a more youthful selection of home buyers.  However,…

5 things to Look For in Luxury Real Estate

Location, location, location. Regardless of what type of real estate you’re buying, its proximity to services, distance from the beach or slopes, and the neighborhood it’s in are always a priority. When it comes to luxury real estate, there are more factors to consider than just if you…

Tips to Secure a Foreign National Mortgage Loan

Currently, there are more than 45 million foreign-born people living in the United States. While many have official resident status with a green card, millions are here as non-permanent residents on a work or student visa or as foreign nationals with a primary residence outside of the US.…

How MBANC helps realtors scale their client lists

As many as 80% of real estate agents fail or quit within their first year. Although the potential income is very attractive, the fact is that being a realtor is a challenging profession that requires long hours, plenty of sacrifices, hard work, and intelligent partnerships.  What sets the…

Three things to consider when buying an investment property

Joining the ranks of real estate investors can add a healthy cash flow to your portfolio. New to the game or seasoned in investing in real estate, being a landlord is often seen as an incredibly reliable source of wealth as rental income is largely passive. However, buying…

Evidence the Red-Hot Housing Market is not a Bubble

Investors and property owners alike may be having flashbacks to 2008. That’s when the real estate industry saw record highs of foreclosures and plummeting home prices as the Federal Reserve bumped the federal funds rate. While some of the scenarios may seem eerily similar, analysts aren’t worried. They…

New Home Construction Costs are Driving Up Home Prices

For anyone that’s entertained the option to build your own home, the prices have been climbing substantially over the past several months. CNBC is reporting that lumber prices are adding around $36,000 in lumber costs alone to the build price of an average single family home.  The rapid…

Capture more luxury real estate buyers with Bank Statement mortgages

Miami Beach to San Marino, Aspen to Beacon Hill and Orange County. Stunning luxury homes permeate the market in these and other neighborhoods in the US. It’s where influential and successful people call home. For realtors, it represents an incredible opportunity to grow your business and develop wealthy…

What Does an Investment Property Look Like?

The hot real estate market might have you thinking about getting in on the action. With prices steadily climbing and interest rates extremely low, it’s a great time for investing in real estate to become part of your investment strategy. What opportunities are there that can get you…

How to Get a Mortgage as a Freelancer

Whether because of the pandemic’s workforce shift to WFH or if your career trajectory has taken you there in other more intentional ways, the gig economy has exploded. Freelancing is a $1.2 trillion-dollar economy in the United States, and freelance jobs are becoming more widely accepted as a…

Can I Use Rental Income to Qualify for a Mortgage?

In the US, there are more than 22 million rental properties and the bulk of them are occupied. Real estate rentals are big business, and it’s an area that can significantly increase your gross monthly income. But when it comes time to upgrade your primary residence or add…

Tips for Financial Advisors to Get a Great Mortgage

You’re used to providing advice to clients on how to achieve their financial goals. Devising strategies to optimize retirement savings, establishing budgets for high-value clients, estate planning, reviewing insurance, and recommending options for mortgage loans or refinancing – it’s all in a day’s work for a financial advisor.…

Three Tips to Position Yourself to Buy a Second Home

A defining moment for a hard-working individual arrives when you’ve decided to purchase a second home. It may be seeking out an investment property to diversify your portfolio or it could simply be a vacation home in a subtropical destination. Fewer than 5% of Americans achieve this dream,…

Six Things to Look for on a House Tour

What You Will Learn How to determine interior home valueHow to look for potential home expensesWhere to look for foundational issues in the home In the real estate market, a home inspection is the best way to determine if a property is a good investment. But before a…

Five Reasons You Might Need a Non-QM Mortgage

Whether you have a flawed credit history, you’re an aggressive investor, or you don’t have the backing of an employer-issued paystub, you could have issues getting approved for a traditional mortgage or loan. It can be disheartening, but there are ways available to finance a real estate purchase…

Mortgage Refinancing: What are the Pros and Cons?

The mortgage solution you selected months or years ago could’ve been your best choice back then, but what if the market, your situation, or your goals have changed? A more competitive mortgage product may be the answer. Refinancing could be changing the rate and term on your current…

A Smooth Purchase Starts with a Home Buying Checklist

It might be the most expensive purchase you’ve made to date. Whether it’s for the first time as a self-employed individual, an investor, or a business owner, or if it’s another stepping stone on your journey to achieving your dream, buying a home is a process that takes…

First Time Homebuyer Guide 2021

Beginning a career, starting a family, buying a first home – these are a few of the most anxiety-inducing yet exciting times in anyone’s life. The highest costs are waiting for those who are striking out into the real estate market, though. If you’re thinking about buying a…

How to Get Ready for a Refinance

What You Will Learn What documents are required for a mortgage refinanceDetermine your goals for refinancingHow to prepare for an home appraisal Are you thinking about refinancing your mortgage? It could be to take advantage of better interest rates for mortgage lending than when you initially purchased your…

Self Employed? These Tips can Make Getting a Mortgage Easier

More than 44 million Americans are considered self-employed, and that figure continues growing. Whether you’re engaged in the gig economy or a dividend-receiving business owner, being self-employed can create financial challenges even when you collect a healthy income from your work. One of the major hurdles is in…