John's Blog

www.1stmetromortgagejp.com

"Registered Mortgage Broker - NYS Banking Department. All Loans

Arranged With Third-Party Lenders. 4720 Piedmont Row Drive, Suite 200,

Charlotte, NC 28210."

National Mortgage Broker - Free Consultation - No Obligation...

1st Metropolitan Mortgage — Fri, 13 Nov 2009 12:01:40 -0600

If you have a question about your current mortgage or want to see what programs may be available to you, feel free to call me.

Rates are very low right know - see date of post.

Call Today or visit my website and apply online.

John Popp

Sr Loan Officer

1st Metrolopitan Mortgage

jpopp@corporate-office.com

Office: 980-233-4904

Cell: 704-796-5440

NMLS: 68320

Local North Carolina Mortgage Broker

1st Metropolitan Mortgage — Fri, 13 Nov 2009 11:48:48 -0600

It may be a good time to refinance your current mortgage. Rates are low and ouf fees are minimal.

Free Prequalification/Consultation

Call Today or visit my website and apply online.

John Popp

Sr Loan Officer

1st Metrolopitan Mortgage

jpopp@corporate-office.com

Office: 980-233-4904

Cell: 704-796-5440

NMLS: 68320

Types of Commercial Financing and Joint Venture Financing Available

1st Metropolitan Mortgage — Thu, 05 Nov 2009 11:13:28 -0600

Distressed Hospitality

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

Feel free to call me or email me for information

John Popp

704-490-4733

Commercial Financing with JV Partnership

1st Metropolitan Mortgage — Mon, 02 Nov 2009 12:56:08 -0600

5MM to 100MM Partnerships

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?

Contact:
John Popp
john.popp@yahoo.com
704-490-4733

FHA Streamline Refinance

1st Metropolitan Mortgage — Mon, 28 Sep 2009 09:20:53 -0500

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

1st Metropolitan Mortgage

4720 Piedmont Row dr Ste 200

Charlotte, NC 28210

USDA RURAL DEVELOPMENT GUARANTEED RURAL HOUSING MORTGAGE

Purchase a home with $100.00 down or even $0.00 down (no money down)

1st Metropolitan Mortgage — Mon, 28 Sep 2009 09:08:10 -0500

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!

Home Page

1st Metropolitan Mortgage

Charlotte, NC 28210

704-490-4733

NMLS 68320

Hotel, Apartment, Storage Facility and other Commercial Financingwith JV Partnerships

1st Metropolitan Mortgage — Mon, 28 Sep 2009 08:49:41 -0500

5MM to 100MM Partnerships

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?

Contact:

John Popp

john.popp@yahoo.com

704-490-4733

or visit: http://www.firstmetromortgagejp.com/Hard_20_Money_20_Commercial.html

Commerical Construction Loans - Aquisition and Development

1st Metropolitan Mortgage — Thu, 27 Aug 2009 10:19:14 -0500

Subdivision Construction Program

Joint Venture

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.

Visit our Website for more information

Purchase a HUD Home with $100.00 down

1st Metropolitan Mortgage — Thu, 27 Aug 2009 10:04:43 -0500

Why pay full price for a home when you can purchase a HUD home at a reduced price and only pay $ 100.00 down.

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

Home Page

1st Metropolitan Mortgage Charlotte, NC 28210 704-490-4733

Hard Money Commercial Mortgages

1st Metropolitan Mortgage — Wed, 05 Aug 2009 10:48:15 -0500

Our Source is funded by a combined International pool of nearly

Half a Trillion in available Liquidity

Private Lending up to 100% of the "As-Is" Value and then up to 80% of the Future Value in scheduled draws. Terms, Conditions and Rates vary by Funding Source.

Office, Retail, Industrial & Mixed-Use
Hotels, Motels, Casinos & Golf Courses
Medical Buildings, Marinas & Restaurants
Gas Stations & Auto Mechanic Shops
Master Developments & Raw Land
Assisted Living, Storage Facilities & Student Housing
In-Ground Assets & Commodities
Movie Production Financing
Single Family Residential & Condominiums
REO Portfolios & Note Portfolios (PNs & NPNs)
Multifamily (1 - 4 Units) & Apartment Complexes
Fine Art Work/Collections
Business Loans, Credit Lines & Working Capital
Factoring & Purchase Order Financing
Debt & JV/Equity Financing
Monetization of Hard Assets & Financial Instruments
Hard Money Commerical click for more information

FLEXIBLE LOAN TERMS | COMPREHENSIVE PROGRAMS | COMPETITIVE RATES | CLIENT ATTENTION

FUNDING PROGRAM I - INTERNATIONAL HEDGE FUND $50,000 TO $5 BILLION+

Residential, Commercial and Business Funding. Hard Money Loans. 80% LTV debt financing based on the as-is value and up to 80% LTV based on the Future Value to be released in scheduled draws. Equity financing and joint venture financing options. Interest Rates range from 11.49% to 15.99%. Standard Loan Program is a 30 year Amortization, Fixed interest rate for 5 years, Interest Only Payments. Standard Pre-payment penalty can be eliminated by adding 1.5% to the interest rate. Loan Decisions in 15 Business Days (Expedited Processing).

FUNDING PROGRAM II - TRUST - $50 MILLION MINIMUM

100% Debt or Equity funding through the Business Trust. Requires up to a 10% cash position to initiate the relationship. For each portion of 10% Liquidity (this can be Cash, Municipal Bonds, or Cash Backed Instruments) that the Principal provides, the Trust will Lend 90% - i.e., $10,000,000.00 USD POF - Trust will lend $90,000,000.00 USD through a corporate bond program. The Funds will only be screen blocked and pinged and will not be moved from the Principals Bank(s)/Account(s). This is a non-depletion, blocked account for 90 days+. There is no risk to these funds as these funds are safe, the Trust will work through attorneys-council to council. Funds will be added to this account. If a smaller amount (less than 10%) of liquid capital is available, the Trust may consider an equity position in the equity/debt financing structure.

FUNDING PROGRAM III - PENSION FUND - $1 BILLION MINIMUM

100% Debt funding including acquisition and soft costs for projects of $1B or more. Utilizing Government Guarantees and Pension Funds. One of the strongest verifiable funding sources for super-jumbo commercial loans. Suitable for government and private projects. Includes the bond underwriting. A bridge loan for quicker acquisition funding may be available.

FUNDING PROGRAM IV - INTERNATIONAL CONGLOMERATE - $100 MILLION MINIMUM

Developer Bailout Program. International Conglomerate offering comprehensive financing and buy-out programs for Developers and Principals. Program will Fund the completion of the project or purchase the asset from the Principal. Principal must provide collateral enhancement in the form of a Standby Letter of Credit (SBLC) equal to 40% of the value of the Project.

FUNDING PROGRAM V - PRIVATE PLACEMENT PROGRAMS - $10 MILLION MINIMUM

100% Financing through Private Placement Programs (PPP). Minimum collateral is $10MM. Full compliance package must be completed - acceptable collateral includes cash, financial instruments (leased or owned), commodities and/or hard assets (hard assets must be free and clear). Completely risk free and there is no liens or loans involved. SEC Compliance: GI Lending Group is not a U.S. Licensed Securities Dealer and/or U.S. Investment Adviser. This is for Informational Purposes Only.

FUNDING PROGRAM VI - $40 MILLION MINIMUM

65% or Higher LTV depending upon project strength and government support. Conventional International DEBT funding utilizing Pension Funds for domestic or international projects of many types including municipal, infrastructure, and private projects.

FUNDING PROGRAM VII - $2 MILLION MINIMUM

100% Debt funding that requires a refundable 10% cash deposit which they insure to the client. Utilizing their own collateral at rates beginning at LIBOR plus 2%. Funding of the full loan amount within 90 days and deferred payment options for construction.

FUNDING PROGRAM VIII - $10 MILLION MINIMUM

100% Equity funding for developments, acquisitions, construction, oil, and mines. This program has a 10% cash deposit and requires an equity stake in the project.

FUNDING PROGRAM IX - CONSTRUCTION LOANS - EQUITY FINANCING - $10 MILLION MINIMUM

100% Equity funding for construction if the land is owned free and clear. Requires 25 - 35% typical equity stake in the project.

FUNDING PROGRAM X - TRANSACTIONAL FUNDING - $50,000 UP TO $100 MILLION

Transactional Funding - Double Escrow. Program requires a signed contract to buy the property/project and a contract with no contingencies to sell the property/project to a qualified buyer. Need Executive Summary, name address and contact information of all parties involved, copy of executed purchase contract and sell contract with proof of funds from the end buyer.

FUNDING PROGRAM XI - $1 MILLION MINIMUM

100% pure Equity or Debt and Equity from International Investors and USA Pension Funds. Varying Conditions of 20 - 50% equity stake in the project.

FUNDING PROGRAM XII - CONVENTIONAL REFINANCING - $150,000 MINIMUM USA, $5 MILLION MINIMUM INTERNATIONAL

Conventional Refinancing at competitive rates for commercial income-producing properties and projects, both domestic and international.

FUNDING PROGRAM XIII - HARD MONEY OR BRIDGE LOAN PROGRAM - $1 MILLION MINIMUM

Private NYC Hedge Fund financing for international or domestic funding up to 75% Maximum LTV program based upon the collateral value and the ability to re-pay. Apartment Complexes, Office, Industrial, Flagged & Stabilized Hotel/Motel, Mixed Use, Shopping Centers, Warehouses, Owner-Occupied Facilities, Marinas, Auto Repair/Mechanic Shops, Gas Stations, Large Homes. Starting from $4M and Up.

FUNDING PROGRAM XIV - WORKING CAPITAL - $500K TO $25 MILLION

Up to 100% financing for $500K to $25 MM. Short term commercial financial option that provides capital to pay suppliers upfront. Funding based on Future profits and Purchase Orders from customers. Purchase Order will be verified, a Letter of Credit will be opened typically within 14 days. Programs for businesses such as producers, distributors, wholesalers and/or resellers of manufactured goods.

FUNDING PROGRAM XV - WORKING CAPITAL - $10,000 MINIMUM

Up to 90% Invoice Advance. Clients sell their Account receivables for a cash payment. Applicable Industries include service, staffing, manufacturing, distribution, tech, energy, and transportation.

FUNDING PROGRAM XVI - CUSTOM LOAN PROGRAM

Designed for High LTVs or higher risk plans. Site visit required to meet the borrowers in person, and devise a custom plan if the project proves to have strength and potential.

FUNDING PROGRAM XVII - RESIDENTIAL EQUITY GROUP - HARD MONEY LOAN PROGRAM & REFINANCE STRATEGY - $65,000 ARV MINIMUM

LTVs up to 75% of the After Repair Value, non-owner occupied only. Project After Repair Value must be $65k and more. Residential (1 to 4 Units Only). The Funding Source will order a (1) Credit Report (660+ requirement), (2) Request 2 months previous Bank statements, (3) previous year's tax return (they can pull directly from the IRS, if necessary), (4) Purchase Contract, (5) Contractor's Estimate, (6) Builder's Risk & General Liability Insurance (identified for you), (7) Property Inspection (identified for you), and (8) Appraisal (identified for you) - in this order. Limited Service Areas.

Call John Popp

704-490-4733

Hard Money Commercial Mortgages

1st Metropolitan Mortgage — Thu, 16 Jul 2009 14:24:13 -0500

Hard Money Commercial Loans

Commercial financing with no credit check/no income verification. Lets us help you get creative in the development of your next contract using the power of value verses purchase price.

Banks are not lending on these projects during these economic times. This is a perfect time to buy Real Estate for future riches using our private funding. We guaranty quick approvals, and quick closings.

Some of the other things we can do just so you have an idea:

HARD MONEY LOANS UP TO 80% LTV We will lend up to 80% of the “As-Is” Value and then up to 80% of the After Completed/Future Value in draws as scheduled. Only Two Conditions: That you have “Equity” in your Property/Project and a viable “Exit Strategy”

REOs & Notes (PNs &NPNs)
Multifamily (1 – 4 Units) & Apartment Complexes
Hotels, Offices, Industrial & Mixed-Use
Developments and Raw Land
In-Ground Assets & Commodities
Movie Production Financing
Business Loams, Credit Lines & Working Capital
Debt & JV/Equity Financing
No Credit Checks – A TRUE SISA = Stated Income Stated Assets = Dead Man’s Loan
5 Year Fixed Rate – Interest Only – 30+ Year Mortgage Terms
HARD MONEY Interest Rates range from 11.49% - 15.99%
Loan Amounts up to $5 Billion

Due Diligence & Underwriting:

As little as 5 – 15+ Business Days to FUND (Expedited Processing Available) Our Hedge Funds’ due diligence divisions, underwriters, managers/directors and investors will determine current and future value and marketability of the property/loan and will perform an independent due diligence, so it may receive an unbiased reasoning with the file. Our Funding Sources have funded over $10 Billion since 200 1st Metropolitan Mortgage

John Popp

704-490-4733

or visit our website: 1st Metropolitan Mortgage

100% Mortgage Financing - USDA Mortgage Loan Program

1st Metropolitan Mortgage — Mon, 06 Jul 2009 10:04:40 -0500

USDA Mortgage Loan Summary: The USDA Mortgage Loan permits 100% financing when purchasing a home. A 620 Minimum Credit Score is needed for this program. Since the USDA Mortgage uses appraised value, you can even finance closing costs if the home appraises higher. You may not own any other property when closing on a USDA Mortgage Loan. Below are some highlights to this program...visit our website for complete details.

PROGRAM BENEFITS

100% financing based on appraised value (loan amount may exceed appraised value by 2% Guarantee fee, divide appraised value by .98)
30-year fixed

Ability to Refinance - Rate reduction only - no cash back - Reduced Guarantee Fee of .5% Only existing GRH and Section 502 Direct loans are eligible for refinance -Streamline Process

No monthly mortgage insurance. One-time guarantee fee of 2.00%

No payment reserve requirements

No downpayment

No First-time homebuyer requirement

No maximum. If greater than 6%, comment from the appraiser required

100% gifting permitted. Donor must be disinterested third party

INCOME AND RATIOS

29/41 – exceptions encouraged with compensating factors and RD concurrence
Include all installment debt greater than 6 months
Primary Income must have Two-year history
Self Employed - Two-years 1040s and P&L
Alimony/child support - 12-month history, with proof of 3 years continuance
Part-time, Over-time & Bonus - 12-month history
Disability benefits - Benefits letter , 3 years continuance and gross up 125%
SSI benefits - Awards letter or 2 months bank stmts, 3 years continuance and gross up 125%
Salary increases with 60 days of the first payment due date are acceptable
Use RD Moderate Income Limits http://eligibility.sc.egov.usda.gov/

CREDIT

No minimum credit scores
1 X 30 permitted in last 12 months with explanations – Exceptions may be granted if your borrowers have 620 or greater middle credit scores
Chapter 7 and 13 must be discharged for 3 years – Foreclosures must be completed 3 years ago – Exceptions may be granted if your borrowers have 620 or greater middle credit scores
Collections - Accounts cannot have been placed in collection status within the last 12-months – Exceptions may be granted if your borrowers have 620 or greater middle credit scores
Judgements - Must be paid off for at least 12 months – Exceptions may be granted if your borrowers have 620 or greater middle credit scores
If the applicant’s middle credit score is under 620 a VOR is required for the most recent 12 months.
Previous Housing History is Not required
Non-Traditional Credit is Acceptable if no credit is available
RMCR or Tri-Bureau merged
Case by case basis or when required by RD

FUNDS FOR CLOSING

All closing costs may be financed, except discount points unless borrower is below the RD low income limit, then discount points may be financed
All closing costs and prepaids may be paid by seller concessions
100% gifting acceptable from disinterested third party
No minimum cash contribution from borrowers
Borrowing of unsecured funds allowed with 660 credit score

PROPERTY REQUIREMENTS

Property must be located in a RD eligible area http://eligibility.sc.egov.usda.gov
Borrowers must not own adequate housing.
Primary residence only
Single family or RD eligible condo/PUD
Manufactured homes must be new and RD approved
No in-ground swimming pools (above ground permitted)
Thermal insulation certifications required
State specific adequacy certification or HUD-VC sheet required on all existing dwellings
Termite Inspection - all areas as required by RD
Well/Septic Inspections - 100% required
Repairs - 100% of repairs may be financed based on as-improved value. If work is not complete prior to closing an escrow hold back may be established at 150% of repair cost. (more rules apply, please contact your AE for more details)

APPLY ON LINE TODAY

Customers first

Home Page

1st Metropolitan Mortgage Charlotte, NC 28210 704-490-4733

Just need to Vent....It has been awhile since my last post...

1st Metropolitan Mortgage — Fri, 12 Jun 2009 11:58:47 -0500

When will the mortgage industry come back? When will home sales start to come back?

Forget about what Obama says, forget about listening to anyone connected to wall street.

You can not build new homes or or sell new homes when:

The credit Crisis keeps getting stricter?

Last year we lost all subprime and Alt A products
Then we lost all stated income loans
We lost Home Equity Loans
We even lost construction loan lending
Downpayment Assistant programs went away for FHA Loans
Recently a 620 Credit score minimum has been established on FHA Loans when FHA states they have no minimum score

What is the reason why the above programs have gone away or have been temporarily been modified?

Given the recession, which we have been in for some time now, and the millions of people out of work, the banks needed time to settle their own problems before they sought to help other new potential borrowers. Why should the banks offer construction loans for new homes when they have thousands of homes that they are trying to sell themselves. Why should banks offer low rates to new or existing borrowers when they can use the excessively large margins they have been getting to help them manage the losses they have? Who can blame the banks? Why are the best qualified borrowers taking 2 months to close, at some major banks? Why should they rush, the government is giving them thousands of dollars to modify the mortgages that they currently hold. I am sure that much of their resources are being used to get the modifications done. Modifications are making their books look better and they are getting a cash infusion to boot.

What about the $8,000.00 tax credit - 1st we could use the credit for down payment, then we couldn't know we can.....BUT....since the taxpayer can not get the tax credit until after a home is purchasd they must FIND someone, not related to the R/E transaction to give them a bridgeloan and take out second mortgage on the home to be purchase in order for the tax credit to be used for the downpayment. I seriously do not think that this is going to help anyone buy a new home this year.

Has anyone felt any positive affect from any stimulus package that Obama has passed? Does it seem like most of the monies are going to State and Local governments to help them stay afloat? Yeah I read the articles about how some state and local governments are actually slashing jobs. But isn't the real problem that they are paying full pensions after just 20 short years of service? ...I wish I could have retired when I am 40 years old. Why don't government employees work until they are at retirement age like the rest of America? I recently spoke to a person who lives in the NJ/NY area..I was told that it almost seems that the state governments are trying to bring as many people to work for the goverment so that nobody will be left to question them....

Years ago our politions lied to us because we were stupid, now they lie to us because nothing can be done to stop them from doing whatever they want. When was the last time you went to your local government meeting...how often does the entire town show up to oppose some rediculous ammendment or spending bill only to be ignored. Have you noticed how Obama takes criticism....he makes a funny face at the individual and makes like the person is a 2 year old and should not be alloud to speak - I have seen this political tactic many times over the years.

It sure looks like or government is looking to make an agressive change in the near future....who knows...

sorry for the venting...

Bank of America and Flagstar Bank Special Mortgage Financing Programs

1st Metropolitan Mortgage — Thu, 21 May 2009 13:17:38 -0500

If you are a current customer with Flagstar Bank, FSB or Bank of America and have a mortgage which is secured by Fredie Mac or FHA we can refinance your current mortgage with no minimum credit score requirement. When refinancing an FHA Mortgage it is considered a Streamline Refinance and we can do this with no income check or credit check ( we normally pull a credit report to make sure you have no 30 day late payments in the last 12 momnths - a requirement). In most cases an appraisal is not going to be required. Call while rates are low to refinance your FHA Mortgage. Call Toll Free at 888-327-8657 or 704-490-4733

If your mortgage loan is secured by Freddie Mac (we can let you know) Please review the below special refinancing guidlines:

Freddie Mac Relief Refinance

• Maximum LTV of up to 105% with no maximum CLTV.

• No minimum credit score requirement if borrower’s principal and interest payment does not increase by more than 20%.

• Manual underwriting. • Mortgage insurance is not required if existing loan does not have mortgage insurance.

• Standard conforming and high balance loan limits are eligible.

• A Home Value Explorer (HVE) can be ordered in lieu of an appraisal.

• Escrows may be transferred.

• Loans with an LTV greater than 80% with an escrow waiver on the original loan may be eligible for an escrow waiver on the new loan.

Loan being refinanced must have been originated by Flagstar or Bank of America (broker/correspondent), sold to Freddie Mac, and currently be serviced by Flagstar Bank or Bank of America.

If you are interested in an FHA Refinance and live in NC or SC please give me a call. 704-490-4733

1st Metropolitan Mortgage

4720 Piedmont Row Drive Ste 200

Charlotte, NC 28210

Rates are Fallimng - Time to Streamline Refinance your FHA Mortgage

1st Metropolitan Mortgage — Thu, 18 Dec 2008 10:55:38 -0600

If you have an FHA Mortgage and live in Virginia, 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?

In most cases there is no appraisal required, no income or asset information listed on your application. 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

If you are interested in an FHA Refinance and live in NC please give me a call. 704-490-4733

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

FHA Stramline Refinance

1st Metropolitan Mortgage — Mon, 01 Dec 2008 11:29:54 -0600

If you currently have an FHA Mortgage, you can "Streamline Refinance" your current mortgage.

What exactly does "Streamline Refinance" mean?

There is no appraisal required, no income or asset information listed on your application. 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 2 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

If you are interested in an FHA Refinance and live in NC please give me a call. 704-490-4733

Best Jumbo Mortgage Programs in North Carolina and Virginia

1st Metropolitan Mortgage — Mon, 20 Oct 2008 13:58:32 -0500

If you are looking for the lowest rate on Jumbo Mortgages, and you live in Virginia, or North Carolina, you have found the right place.

We currently have a Lender which we feel has the lowest rates for both a 5/1 Arm and a 7/1 Arm Program.

The following are the LTV's that the lender will go to on a Purchase or a Rate and Term Refinance:

upto $850,000 - 80%

1,500,000 - 75%

2,000,000 - 70%

2,500,000 - 60%

3,000,000 - 50%

For New Construction (homes never lived in) reduce LTV by 15%

Minimum Fico Scores are a 650 for Wage Earner and a 700 the Self Employed Interest Only optios are available.

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 Fax: 704-454-5660

Toll Free: 1-888-327-8657

(1-888-FAST OKS)

color:#ff0000

brightgreen mortgage campaign - Prius Sweepstakes - Go Green

1st Metropolitan Mortgage — Thu, 09 Oct 2008 21:52:38 -0500

1st Metropolitan Mortgage Introduces BrightGreen Mortgage Campaign; Toyota Prius Sweepstakes CHARLOTTE, N.C., Oct 8, 2008 – 1st Metropolitan Mortgage, a national mortgage originator, has made a commitment to making the mortgage origination process more environmentally friendly by introducing its national BrightGreen Mortgage campaign. The program will give originators the tools and support to produce more environmentally-friendly mortgages while saving consumers time and money. Participating branches will operate in a greener and far more sustainability way than the current industry standard to produce mortgages. “We do not have to be environmental activists or make complete lifestyle changes to have a significant, positive effect on our environment,” said Daniel Jacobs, 1st Metropolitan CEO. “Simple acts go a long way to preserving our future. 1st Metropolitan Mortgage has always said we have a solid foundation for a better future. The BrightGreen Mortgage initiative is just another way of demonstrating our commitment to the future.” The campaign has multiple facets from community initiatives to a hybrid vehicle sweepstakes to new technology and business practice better accomplish the mission of the BrightGreen Mortgage. “As a company in an inherently paper-saturated business, we believe it is imperative that we take the initiative to reduce paper and become even more environmentally socially responsible,” Jacobs said. “This campaign increases awareness within our organization of corporate social responsibility while also providing our originators a way to differentiate the goods and services they provide in a highly commoditized industry, which is not historically environmentally responsible. Consumers win, we win, the environment wins… and one lucky person will win a Toyota Prius.” There are several elements to the BrightGreen Mortgage campaign, including:

Consumers will have the opportunity to win a Toyota Prius hybrid during a six-month sweepstakes. The Prius is one of the country’s most popular hybrids with gas mileage of 45 highway, 48 city and 46 combined.
A local coloring contest for students will encourage young people to share their thoughts about being eco-friendly. The winning pictures will be compiled for a calendar. Click here for Form Entries Due December 12, 2008
1st Metropolitan will provide special on-going sustainability training to help participating branches become more eco-friendly.
There will be a focus on the using recycled paper in when paper elimination is not possible.
Recycling, document scanning and e-signatures (where allowable) are key elements to the BrightGreen Mortgage.
1st Metropolitan will also plant a new tree for each loan closed as part of the BrightGreen Mortgage.

The company estimates that for every loan, 500 pieces of paper are used, which means for 17 closed loans, one tree is consumed, 811 gallons of waste water is created and 242 pounds of green house gases (CO2) are created. This does not take into consideration the loans that do not result in a closing. With the BrightGreen Mortgage, 1st Metropolitan plans to reduce these numbers substantially. “While we cannot eliminate 100 percent of the paper, waste water and green house gases used in the mortgage,” Jacobs said, “the BrightGreen mortgage is a major step toward greater sustainability and the reduction of squandering our environmental resources.”

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 Fax: 704-454-5660

Toll Free: 1-888-327-8657

(1-888-FAST OKS)

Hispanic Mortgage Originator

1st Metropolitan Mortgage — Tue, 23 Sep 2008 13:21:12 -0500

De acuerdo al mercado actual ahora es el momento indicado para COMPRAR o REFINANCEAR. Los intereses acaban de bajar y los precios de las casas estan muy economicos. Usted podria entrar a su casa con una gran plusvalia ya adquirida en el valor de la compra de su casa. Este es el mejor momento para compradores porque tienen muchas grandes oportunidades de obtener una gran propiedad a un valor bajo y con una gran ganancia ya en su propiedad. Llameme si quiere que lo aconseje en este proceso tan importante de la compra de su CASA. Usted merece el mejor servicio de una compania con reputacion y de un agente de prestamo que en verdad se tome el tiempo de explicarle paso por paso el proceso de su compra o refinanciamiento con honesta preocupacion de su bienestar.

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 ext 105 Fax: 704-454-5660

Cell Phone: 704-208-8688

email: iyost@1stmetro.net

Bilingual in Spanish - Your Mortgage Expert

1st Metropolitan Mortgage — Tue, 23 Sep 2008 13:17:55 -0500

My name is Ivette Yost and I offer you and your Clients:

PROFESSIONAL Service, Security & Support for their Mortgage needs.
Access to Many of the top National and Regional Mortgage Sources.
Bilingual in Spanish and English
Licensed in North Carolina, South Carolina ( FHA and VA Mortgages only) and Virginia
A small Thank You Gift at close of Escrow

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 ext 105 Fax: 704-454-5660

Cell Phone: 704-208-8688

email: iyost@1stmetro.net

New Bilingual Mortgage Originator - Charlotte, NC

1st Metropolitan Mortgage — Tue, 23 Sep 2008 13:14:04 -0500

I would like to introduce you to our new Bilingual (SPANISH AND ENGLISH) Loan Specialist.

Ivette Yost served 4 years in the USAF. She has a degree in Logistics and Mgmt CIS. She has a vast understanding of the mortgage lending business including FHA Mortgages, VA Mortgages, USDA 100% Mortgages, ITIN Loans with the proper down payment, Down Payment Assistance Programs and many more. She has over 125 Lenders to help you or your clients get the right mortgage for their situation.

Please feel free to call Ivette or myself to discuss your mortgage options. I would be happy to answer your questions.

John D. Popp, Branch Manager

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 Fax: 704-454-5660

Toll Free: 1-888-327-8657

(1-888-FAST OKS)

Stated Income Mortgage Loans - Basic guidelines

1st Metropolitan Mortgage — Thu, 11 Sep 2008 13:29:30 -0500

There are very few Stated Income Loans left for borrowers who need to use them. The few programs left have very strict underwriting guidelines. Below is a list of borrower attributes that an automated underwriting engine will look at when qualifying a person on a stated income mortgage loan.

credit score above a 720
Liquid Assets must reflect stated income used to qualify
6 to 12 months of reserves in the bank
2 borrowers are preferred
5 years with the same employer or 5 years of self employment is needed.
Minimum of 10% down on a purchase - the more... the better chance you have of getting approved
90% LTV on a refinance is required

Even if you have all of the above positive attributes the automated engine may still not approve your request for a stated income mortgage. You will need to give a complete application so that we could run your information through the automated system to see if you qualify.

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 Fax: 704-225-9950

Toll Free: 1-888-327-8657

(1-888-FAST OKS)

New Risk Based Premiums for FHA Mortgage Insurance

1st Metropolitan Mortgage — Wed, 16 Jul 2008 10:58:05 -0500

Effective with new FHA Mortgage Loans Originated after July 14, 2008, FHA has implemented a new risk-based premium guideline on one-to four-unit single family mortgages. Before the new change the upfront mortgage Insurance Premium was 1.5% on all transactions and the Monthly MI Factor was 50bp. The monthly MI would not apply on 15 year mortgage loans with a LTV of 90 or less. Under the new guidelines, the upfront MI can be as low as 1% on a Streamline FHA to FHA Refinance to a high of 2.25% for a borrower with a credit score between 500 and 559. Feel Free to visit our website to see a matrix of FHA's risk based mortgage program.

John D. Popp, Branch Manager

1st Metropolitan Mortgage

4608 Highway 49 S

Harrisburg, NC 28075

Phone: 704-490-4733 Fax: 704-225-9950