The Pros
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Brian Grubbs
President MLO Raleigh Mortgage Group, Inc
President MLO Raleigh Mortgage Group, Inc
I've known Brian since the late 1990's when I first got into the mortgage business. I was new to the industry and he became my mentor. He went on to form his own company and has remained a friend all these years.
Brian is the Owner of Raleigh Mortgage Group and is known for being one of the top Mortgage Brokers in the state. He loves using his expertise to help his customers in the Raleigh area to get the very BEST loan possible. He has 18 years of experience and relationships with some of the world’s largest banks, mortgage wholesalers and portfolio lenders. This allows him to provide you with the best loan available.
He helps his customers obtain the fastest loan closing with the best possible interest rate and closing cost available. He is also known for providing customers with more choices, flexibility and the ability to overcome nearly any situation that might be introduced to a transaction. Brian is always available to speak with you personally about your mortgage needs.
Brian started his mortgage career in 1997 after graduating from North Carolina State University. He began his career at Collinbrook Mortgage Corporation as the Senior Loan Officer. In 2001, Brian filled his dreams of opening and owning his own mortgage company.
Brian along with his staff have survived the economic downturn and is up to date and in compliance with all aspects of the recent mortgage reforms. Brian and his employees continue to offer personal and dependable service that has earned the trust and continued business of customers and referral partners.
Brian is an active member with the Raleigh Chamber of Commerce, Raleigh Regional Association of Realtors, and Mortgage Bankers Association of the Carolinas.
Brian has been happily married to the love of his life, Ann, for more than 16 years and together they have two wonderful little girls.
Brian is the Owner of Raleigh Mortgage Group and is known for being one of the top Mortgage Brokers in the state. He loves using his expertise to help his customers in the Raleigh area to get the very BEST loan possible. He has 18 years of experience and relationships with some of the world’s largest banks, mortgage wholesalers and portfolio lenders. This allows him to provide you with the best loan available.
He helps his customers obtain the fastest loan closing with the best possible interest rate and closing cost available. He is also known for providing customers with more choices, flexibility and the ability to overcome nearly any situation that might be introduced to a transaction. Brian is always available to speak with you personally about your mortgage needs.
Brian started his mortgage career in 1997 after graduating from North Carolina State University. He began his career at Collinbrook Mortgage Corporation as the Senior Loan Officer. In 2001, Brian filled his dreams of opening and owning his own mortgage company.
Brian along with his staff have survived the economic downturn and is up to date and in compliance with all aspects of the recent mortgage reforms. Brian and his employees continue to offer personal and dependable service that has earned the trust and continued business of customers and referral partners.
Brian is an active member with the Raleigh Chamber of Commerce, Raleigh Regional Association of Realtors, and Mortgage Bankers Association of the Carolinas.
Brian has been happily married to the love of his life, Ann, for more than 16 years and together they have two wonderful little girls.
Investment Property Loans
By Brian Grubbs
By Brian Grubbs
Purchasing an Investment Property is something that must be done with someone who has the knowledge and experience to help you ensure that they are protecting exactly what this home will be, an investment property. Whether you are a seasoned investor who owns 5-10 Investment properties or a first time investor who sees the benefit of having real estate as a part of their investment portfolio, my team and I can help you get a great investment property loan.
Owning, managing, repairing, improving and overseeing even one investment property can be a big responsibility, as many of you who are reading this will already know. There are lots of considerations to take into account before purchasing and there are different considerations that lenders take into account when qualifying you for the financing of your 1st to 10th financed home.
The Conventional (Fannie Mae and Freddie Mac) loans are the most popular programs used in purchasing and refinancing investment properties due to the low rates offered. Typically a 20% down payment (based on the acquisition cost, not actual appraised value) is required, although we have access to a 15% down conventional product as well. The entire down payment must be your own money. You must also full income qualify, which means that you must prove your income is sufficient to cover the monthly payment of your existing monthly liabilities in addition to the new mortgage payment for the additional new property being purchased. With the conventional loan type, you also need to have assets remaining in your accounts equal to 6 months of monthly payments for each property owned (to include principle, interest, taxes, insurance and association dues).
The Conventional loans mentioned above are not used to flip houses. Buy and hold investors are the investors that we are able to work with.
We offer some of the more popular Conventional investor programs but some of our lenders also offer specific variations to the more stringent typical guidelines that you might get from typical banks. Some of these alternative options include:
For more information please call Raleigh Mortgage Group today at 919-866-0212 to speak with an experienced and knowledgeable loan officer who can help you determine if this loan program is right for you.
Brian Grubbs
Owning, managing, repairing, improving and overseeing even one investment property can be a big responsibility, as many of you who are reading this will already know. There are lots of considerations to take into account before purchasing and there are different considerations that lenders take into account when qualifying you for the financing of your 1st to 10th financed home.
The Conventional (Fannie Mae and Freddie Mac) loans are the most popular programs used in purchasing and refinancing investment properties due to the low rates offered. Typically a 20% down payment (based on the acquisition cost, not actual appraised value) is required, although we have access to a 15% down conventional product as well. The entire down payment must be your own money. You must also full income qualify, which means that you must prove your income is sufficient to cover the monthly payment of your existing monthly liabilities in addition to the new mortgage payment for the additional new property being purchased. With the conventional loan type, you also need to have assets remaining in your accounts equal to 6 months of monthly payments for each property owned (to include principle, interest, taxes, insurance and association dues).
The Conventional loans mentioned above are not used to flip houses. Buy and hold investors are the investors that we are able to work with.
We offer some of the more popular Conventional investor programs but some of our lenders also offer specific variations to the more stringent typical guidelines that you might get from typical banks. Some of these alternative options include:
- Fannie Mae Delayed Financing Program: This program is designed for those investors who have purchased a home in full with cash (no mortgage on the property). Within 6 months of purchasing the home you are able to refinance this property up to a loan amount equal to the amount that was originally paid for the home. However, you are able to use the full appraised value of the home to establish the loan to value. So for instance if you paid $150,000 for a home that will appraise for $200,000 then you can obtain a 75% loan with NO PMI, which will reimburse you for the entire investment of the home, essentially allowing you to have a 100% effective loan. This is used by some investors who are able to acquire a home with equity that might not have an appraisal that would have been acceptable to the lender at time of purchase. This is for buy and hold investors.
- Freddie Mac allows up to 85% loan to value for Purchase loans (only 15% down). This loan requires mortgage insurance and is available to investors who are financing up to their 4th financed total number of properties. The interest rate is slightly higher and the mortgage insurance is more than typical mortgage insurance than that of a primary residence, but it allows you the opportunity to minimize down payment. This is also intended for the buy and hold investor.
- Another investor offers a way of qualifying using only the rent amount of the new property being purchased. This is called the “Investor Cash Flow” loan. Your qualification is based on the cash flow of the property, your personal income is not used.
- Another investor offers options for self-employed investors who can use average deposits into the business bank accounts as verification of full income verification. No tax returns needed.
- Another investor offers loans for investors who wish to finance between 10-20 financed properties. However, this comes at a low loan to value and higher than typical rates.
For more information please call Raleigh Mortgage Group today at 919-866-0212 to speak with an experienced and knowledgeable loan officer who can help you determine if this loan program is right for you.
Brian Grubbs
