Loan Talk with Lender Lauren - The Pledged Asset Program

By
Real Estate Agent with Rich Kids Real Estate: The Brokerage

 

I am turning over today’s installment of the Rich Kids Blog to Lender, Lauren Boland. Much like Oprah has SUZE (love her) for money talk, Dr. Phil for mental health (hmmm), and Nate Burkis for home decor (eye candy), Rich Kids Real Estate has our own group of specialists in various areas of the real estate industry. What I love about Lauren is that she can talk loans all day long with the same passion and fervor that I have for discussing property. Why I think she is integral to Rich Kids is that she makes lending (which at times can be a bit dry) actually easy to understand and at the day, gets the job done! Without further ado, Lender Lauren on the Pledged Asset Program…

Do You Have Money to Buy but Just Don’t Have Access to it Now?

Pledged Asset Program

This loan program is designed to keep your cash or stocks in place while only putting 10% down to purchase this property

So if your money is tied up but you can show it on paper…you could buy this home for as little as 10% down.

  • Anyone can “pledge assets” for you and you can use stocks, bonds, mutual fund or cash.
  • Cash (in a savings account or CD) is $1 to $1 pledged assets
  • All other assets are 50 cents on the dollar
  • Example if you have $500,000 in a trust that invested in a mutual fund…you could pledge $250,000 of it.

No 401k funds can be used

Example of Pledge Asset Program

-$1,499,000 Asking Price

-10% Down = $149,900

-Pledge Amount 20% = $299,800

-Loan Amount = $1,349,100 (with no MI)

5/1  ARM

3.875% Interest only

Payment $4,356.46

APR 3.341%

Got Questions for Lender Lauren?

Lauren Boland

Mortgage Loan Originator

310-427-4797

info@laurenboland.com

www.spfcnet.com/laurenbolan

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
California Los Angeles County Beverly Hills
Tags:
loans
rich kids real estate
loan talk
lauren boland

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
67,202

Matt Sweeney

Rich Kids Real Estate
Ask me a question
*
*
*
*
Spam prevention