1st Metropolitan Mortgage is a National Mortgage Broker. 1st Metropolitan Mortgage can originate Conventional , FHA, VA and USDA Mortgage Loans.
We strive for the best customer service that can be given. Our process is automated and secure.
If you are looking to refinance your current mortgage or purchase a new one please do not hesitate to call us, we offer a free consultation to all of our clients to show you what we can do for you.
Call our corporate office today to check the current rates that we can offer you.
Flagged and non-flagged hospitality acquisition. joint venture, construction completion and repositioning
Distressed debt renegotiation and restructuring
Target deal size $5 million to $200 million
Target markets include the U.S., Caribbean, Mexico, Latin America and Central America
Joint Venture Development to 100% LTV
We have investor capital avaiable for Retail, Office and all other property types in major metro areas with a minimum transaction size of $5 million at 100% LTV structured as follows:
Development management agreement with development fee and back end income
40-45% equity priced at 10-12% preferred return. (non-recourse)
Strong developement track record
Build to suits only with no spec
Construction, Refinance, Purchase
Hard Money Bridge Loans
Bridge rates starting at 9.9%
Terms from 1-3 years
Closing in as little as 7 days
Loan sizes from $1 million to $100 million
LTV's to 75% (higher LTV's available with Joint Venture Capital)
Flagged Hotel Loans
Budget flagged hotel financing available with rates starting at 6%
Stabilized or unstabilized
Closing in 30-45 days
Loan sizes from 1 million to 10 million
LTV's to 80% with Joint Venture financing available to 100% LTV to $200 million
Energy, Oil & Gas, Biofuel and Mining Loans
Biofuel consulting, financing and private equity
Joint Venture capital available for new or existing projects
Closing in 30-45 days
Loan sizes from $1 million to $20 million
Requir 10% Client Asstes for 12 months reserve account
We have an appetite for income producing properties.
100% Funding for the project.
All projects considered over 4.5 MM and quoted within 48 hours.
How It Works?
Sample: You have a contract on a 50MM dollar income producing property, developed, or needs to be developed. You have a resume and a successful track record in this field, and you can prove that you have 10% liquid, we want to be your partner!
With our JV program, you pay no interest payments, ever! You waive these payments by taking on one partner at 40% giving you the majority share at 60%. You pay nothing until the project starts making money.
Step 1: Submit your project with proof of 10% funds, we will review and get back to you 24-48 hours. Step 2: We arrange a conference call between the JV facilitator and principals. Step 3: An agreement outlining the terms discussed on conference call are sent to you, if all clear, you sign and send back to us. In this agreement, we guarantee funds (commitment) Step 4: You set up a blocked account with either BOFA or CITI for 10% of the requested amount to be funded, funds get verified. Full commitment is issued, Partnership contract needs to be done by legal. This is all done within the first 10 days. Step 5: Facilitator collects $7500.00 fee, and JV attorneys a $13,000.00 for all legal work. Fees depend on type of project Important: No fee's are collected until a firm commitment is in place. References will be provided, references include, project, state, loan amount, contact information, etc..... NO BULL HERE! As you can see, everything is disclosed, no hidden surprises. Partnership: In most cases, you will find that when a hotel is being developed, there are several partner/investors in place, all taking a piece of the pie, the principal who put everything together is only getting a small piece. Using our scenario, the principal gets 60%, we get 40%, we put up 100% of the money, they make no monthly payments, and do not start paying 40% until the project starts profiting.
Benefits: Principals make more money, making no interest payments. Projects close in less than 30 days. Remember, there is no loan, this is your partner, you are closing on the partnership agreement with a group that has all the capital you need, is this starting to make sense?
If you have an FHA Mortgage and live in North Carolina or South Carolina, give me or one of my loan officers a call. Rates are at an all time low.
If you currently have an FHA Mortgage, you can "Streamline Refinance" your current mortgage.
What exactly does "Streamline Refinance" mean?
No income or asset information is listed on your application. With recent changes to FHA underwriting an appraisal will most likely be needed. Most lenders will run at least 1 of the 3 credit agency reports to get your current payment history on your mortgage. While your current credit situation does not matter in doing a "Streamline Refinance" you should not have more than 1 30 day late payment on your current mortgage in the last 12 months. You must be able to supply the lender with a copy of your current "NOTE" from your last mortgage settlement. It should only take 2 weeks from the time of application to the actual closing date. To view my official Website Please Click HERE
Currently, most Lenders are requiring a 620 credit score to do an FHA Mortgage Loan. Call and see if this applies to you...
If you are interested in an FHA Refinance and live in NC please give me a call. 704-490-4733
There are 2 mortgage products that require either a $100.00 down payment or a $0.00 down payment. The 1st mortgage is for a person who wants to purchase a HUD Home - (home that is owned by HUD due toan FHA forclosure. The 2nd type of mortgage product is called a USDA Mortgage. A USDA Mortgage has no down payment requirement and has no monthly mortgage insurance. See our website for complete details of both of these mortgage types or feel frre to call me at the number below.
Why pay full price for a home when you can purchase a HUD home at a reduced price and only pay $ 100.00 down.
That's right -with only $100.00 you can buy a home with equity already built in. Now is the time to purchase a home....with the economy looking better prices are going to start to increase. Buy now while home prices are at the lowest level in years.
We are your one stop shop. We have an FHA approved Realtor on staff that will help you deal with HUD and find you a home. Call now at 704-490-4733 or email me john.popp@yahoo.com.
Customers first
If you are looking for a mortgage loan in the Charlotte area of North Carolina call us Now or Apply On Line. As a Local Charlotte, NC broker we treat all of our borrowers with the utmost respect. Our Local Charlotte Mortgage Borrowers who are happy with the mortgage loan we helped them get are more important to us than anything else. Whether you are Purchasing and need a 100% First Time Home Buyer Mortgage or Refinancing for Debt Consolidation, Home Improvement or just to lower your payment our goal is to make the loan process as simple and worry-free as possible. We even offer the USDA Rural Housing Mortgage Program. We pride ourselves in offering the Residents of Charlotte, North Carolina the highest level of customer service, and appreciate the opportunity to earn your mortgage business. Whether you want to refinance for a lower mortgage rate, get a new home mortgage, home equity loan or second mortgage, our purpose is to satisfy your needs. By putting you first, we assure you a pleasurable transaction.
At our website you can find tools available to answer virtually any mortgage question. Trying to decide if now is a good time to refinance? Check out our Refinance Mortgage Calculator. Wondering if a new home equity loan or second mortgage can lower your monthly payments? Use our Debt Consolidation Mortgage Calculator! Confused by all the loan programs from which to choose? Our Loan Program page will help you find the right type of loan for you. Also, we'll be happy to prepare a personalized mortgage quote for the home mortgage program of your choice. Whether you are located in Charlotte, Concord, Cary, Harrisburg, Mooresville, Wake Forest, Huntersville or any other city in North Carolina we are here to help you obtain your conforming mortgage, FHA mortgage, VA mortgage, USDA Mortgage or Subprime mortgage loan purchase or refinance at the best rate possible. Do not forget to check out our many First Time Home Buyer Programs if you are a First Time Home Buyer. Home loans is what we do best at low competitive rates. Call now and speak to a North Cartolina Mortgage Company Representative today!
We have an appetite for income producing properties.
100% Funding for the project.
All projects considered over 4.5 MM and quoted within 48 hours.
How It Works?
Sample: You have a contract on a 50MM dollar income producing property, developed, or needs to be developed. You have a resume and a successful track record in this field, and you can prove that you have 10% liquid, we want to be your partner!
With our JV program, you pay no interest payments, ever! You waive these payments by taking on one partner at 40% giving you the majority share at 60%.
You pay nothing until the project starts making money.
Step 1:
Submit your project with proof of 10% funds, we will review and get back to you 24-48 hours.
Step 2:
We arrange a conference call between the JV facilitator and principals.
Step 3:
An agreement outlining the terms discussed on conference call are sent to you, if all clear, you sign and send back to us. In this agreement, we guarantee funds (commitment)
Step 4:
You set up a blocked account with either BOFA or CITI for 10% of the requested amount to be funded, funds get verified. Full commitment is issued, Partnership contract needs to be done by legal. This is all done within the first 10 days.
Step 5:
Facilitator collects $7500.00 fee, and JV attorneys a $13,000.00 for all legal work.
Important:
No fee's are collected until a firm commitment is in place.
References will be provided, references include, project, state, loan amount, contact information, etc..... NO BULL HERE! As you can see, everything is disclosed, no hidden surprises.
Partnership:
In most cases, you will find that when a hotel is being developed, there are several partner/investors in place, all taking a piece of the pie, the principal who put everything together is only getting a small piece. Using our scenario, the principal gets 60%, we get 40%, we put up 100% of the money, they make no monthly payments, and do not start paying 40% until the project starts profiting.
Benefits:
Principals make more money, making no interest payments.
Projects close in less than 30 days.
Remember, there is no loan, this is your partner, you are closing on the partnership agreement with a group that has all the capital you need, is this starting to make sense?
Instead of trying to obtain financing for your project why not have a partner that will finance everything for you. Yes you will take on a minority equity partner who will take 40% of the profits - it could be worth it for you.
Is giving 40% Equity in your project worth it?
Lets assume you are looking to construct a hotel at a cost of 40 million. If you Joint Venture (JV) with a partner you will give up 40% equity in your hotel project.... but you will get your hotel built with no money out of your pocket.
You will be required to put 10% of the project cost into an escrow account that will go back to you when the project is completed. You will also have to pay $7,500.00 to cover the cost of the attornies fees and other costs associated with setting up the JV. These fees are nothing compared to the overall cost you would pay if you had to finance the deal. A 40 million dollar loan at 10% would cost you 20 million in interest over 5 years.
JV can work with almost all types of projects from Building an Apartment Complex, Storage Facility, Residential Building Community, to building a mall or a golf course or even buying an existing business.
If you have a new or an existing project and would like to partner in a joint venture give me a call at 704-490-4733.
Why pay full price for a home when you can purchase a HUD home at a reduced price and only pay $ 100.00 down.
That's right -with only $100.00 you can buy a home with equity already built in. Now is the time to purchase a home....with the economy looking better prices are going to start to increase. Buy now while home prices are at the lowest level in years.
We are your one stop shop. We have an FHA approved Realtor on staff that will help you deal with HUD and find you a home. Call now at 704-490-4733 or email me john.popp@yahoo.com.
Customers first
If you are looking for a mortgage loan in the Charlotte area of North Carolina call us Now or Apply On Line. As a Local Charlotte, NC broker we treat all of our borrowers with the utmost respect. Our Local Charlotte Mortgage Borrowers who are happy with the mortgage loan we helped them get are more important to us than anything else. Whether you are Purchasing and need a 100% First Time Home Buyer Mortgage or Refinancing for Debt Consolidation, Home Improvement or just to lower your payment our goal is to make the loan process as simple and worry-free as possible. We even offer the USDA Rural Housing Mortgage Program. We pride ourselves in offering the Residents of Charlotte, North Carolina the highest level of customer service, and appreciate the opportunity to earn your mortgage business. Whether you want to refinance for a lower mortgage rate, get a new home mortgage, home equity loan or second mortgage, our purpose is to satisfy your needs. By putting you first, we assure you a pleasurable transaction.
At our website you can find tools available to answer virtually any mortgage question. Trying to decide if now is a good time to refinance? Check out our Refinance Mortgage Calculator. Wondering if a new home equity loan or second mortgage can lower your monthly payments? Use our Debt Consolidation Mortgage Calculator! Confused by all the loan programs from which to choose? Our Loan Program page will help you find the right type of loan for you. Also, we'll be happy to prepare a personalized mortgage quote for the home mortgage program of your choice. Whether you are located in Charlotte, Concord, Cary, Harrisburg, Mooresville, Wake Forest, Huntersville or any other city in North Carolina we are here to help you obtain your conforming mortgage, FHA mortgage, VA mortgage, USDA Mortgage or Subprime mortgage loan purchase or refinance at the best rate possible. Do not forget to check out our many First Time Home Buyer Programs if you are a First Time Home Buyer. Home loans is what we do best at low competitive rates. Call now and speak to a North Cartolina Mortgage Company Representative today!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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