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Private residential lending widens as mortgage window closes

When my phone rings these days, I can predict with almost 100% certainty the next words I’ll hear.

It will go something like this: “Hey Jim, I have a special situation.”

Then I’ll respond: “Well, thanks for calling. I can help.”

I help by working with Spectrum Mortgage and providing private residential lending for deals that don’t fit the cookie-cutter parameters used by other lenders.

We represent a number of high net-worth families in town. We help them find good investment opportunities and put their money to work in solid loans.

Even the residential ones. We’ll lend up to 75% for purchases, cash-out refi’s, and more. We’ll lend to U.S. or foreign corporations, as well as U.S. residents who live in the property.

We’re seeing a lot of real estate professionals who know that rates are going nowhere but up, so they want to shift into permanent financing. Now is the time. We can still get permanent financing in the 4% range for those with good documentation and good credit.

Even if your credit is less than perfect, now is the time to act because residential mortgages are getting harder to do. The banks are turning away, and borrowers are looking for private sources to get things done.

Now, South Florida is less of a melting pot and more of a tossed salad. We have a mix of nationalities and cultures from around the globe. Some of the people here are U.S. residents, but many are not.

We can help U.S. non-residents, too. We work with them all the time. Russian. Venezuelan. Brazilian. Colombian. Chilean. British. German. Canadian.

You get the picture. We can often give a commitment the same day and close within a week.

And it doesn’t matter if you’re a broker, investor, developer, CPA, attorney, etc. We can work with just about anyone and just about anywhere in Southern Florida: Dade, Broward, Palm Beach, The Keys, Naples, Fort Myers and more.

Give me a call today at 305-773-6300, and click here to listen to my full discussion on today’s private residential lending environment. NMLS #342779.



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