Interview with RE Mortgage Advisors
typically have limited options and rigid criteria, and if a client doesn’t meet those requirements or if the property doesn’t align with their standards, they may decline the loan. With our broad range of lenders, we can almost always find a suitable option. Examples of this include our ability to close in 7-21 days, as well as our expanded criteria or Non-QM offerings, which allow for lower FICO scores, higher LTV (loan- to-value) ratios, bridge loans, buy-before-sell programs, hard or private money, and many other financing options that big banks typically don’t support. What changes do you foresee for the California mortgage industry in the future? We’re hoping for relief on mortgage rates, but it’s uncertain when or how low rates will go. With California still facing an inventory shortage and increasing demand, clients will need access to diverse lending options to expand their capacity. Additionally, we’ll likely see a growing interest in multi-unit properties, PUDs (Planned Urban Developments), condos, ADUs (Accessory Dwelling Units), and investment opportunities as the shortage is addressed over the next few years. Hopefully, a combination of factors will help increase inventory levels, as demand is far outpacing the current supply. What kind of financial difficulties have you been able to help buyers with? The RE Mortgage Team helps clients navigate various financial challenges. It’s not just about low FICO scores - we offer loans with no minimum credit score requirements. In high-cost markets, we provide financing with up to a 55% DTI ratio, while most banks cap at 45%. For down payment issues, we offer assistance programs with up to 100% financing and loans requiring only 10% down for amounts up to $3 million. We specialize in unique financing solutions. Since the pandemic, self-employed borrowers have faced significant hurdles and struggle to qualify through traditional methods. To help, we offer bank statement programs for both corporate and personal accounts, as well as asset dissipation loans. These programs allow us to qualify individuals with large asset portfolios but without stable W2 or business income. In California’s high-cost market, financial challenges are common, and at RE Mortgage Advisors, we provide customized solutions to meet each client’s specific needs.
Michael Houghton, Executive Finance Manager
Tell us a little about the background of RE Mortgage Advisors. RE Mortgage Advisors was created to simplify the home and commercial financing experience for clients and partners. Our platform allows clients to get preapproved through a single application, maximize their financing potential, and shop multiple providers for the best rate and program. We quickly deliver secure, compliant, fully funded loans. Our dedicated NMLS-licensed Finance Managers handle all communications from initial contact to funding, ensuring clear, compliant channels between clients, agents, title companies, insurance providers, banks, and all parties involved. Our ownership group is committed to providing market center teams with the resources needed to deliver the best possible experience. Why should people select you for their property financing ? With a single online application, clients can get preapproved without a hard credit pull and gain access to the largest network of wholesale and retail lenders. This ensures the best rates and terms for financing. Our platform also makes document uploads easy and keeps all parties informed throughout the process, offering a seamless experience. Can you give an example of how you have benefited a client during a difficult negotiation? In today’s competitive real estate market, clients often need multiple financing options to navigate potential challenges. Through our extensive network of wholesale and retail lenders, we offer solutions that many banks can’t provide. Banks
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