Contrary to popular belief, there are still many loan product options available for buyers. Frank Sommese of American Bank and Trusts who works closely with the real estate agents of Sudler Sotheby's International Realty speaks to just a few of the mortgages in the marketplace right now.
"American Bank & Trust is a regional Bank that lends in all states. As is the trend throughout the US, the regional banks have been leading the way. AB&T is a portfolio lender which allows us to finance rehab and construction loans for foreclosures and short sales. In addition, AB&T has the ability to utilize many different banks, credit unions, insurance companies and hedge funds to secure financing. This gives us financing solutions for the types of loans. Also our ability to use multiple investments allows us to offer the best rates in the industries."
Here are some examples of the types of loans American Bank & Trust is financing:
•· Jumbo loans below 6% for select properties
•· Construction and rehab loans
•· FHA loans at 97% LTV
•· Lines of credit
•· Investment and second homes
Frank Sommese, American Bank & Trust