Mortgages for people who don't need mortgages

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Why Financing is better than All Cash

Mortgages for People Who Don't Need Mortgages

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The secret to making money is not wasting time. The secret to not wasting time is not wasting money.

“I’m thinking of starting my own business, but I don’t have a lot of cash…”

“The stock market is making new highs again. If only I had some cash…”

“I make good money, but I have too many bills that charge mountains of interest…”

“I would like to try flipping a fixer-upper, but I don’t have the cash…”

“Real estate gurus always preach to own rental properties. But where can I find the cash?”

Have you ever heard the axiom "Cash is King"? 

Let's say you want to buy a new home, a $2 million dollar cottage. You have the funds in cash and you decide to pay all cash for the home to avoid dealing with a lender who doesn’t understand how you are able to have so much wealth in the first place.
Congratulations! Now you have a $2 million house, but no more cash. 

But the home will appreciate, right ?
Maybe it will, maybe it won't. It doesn't matter. Even if your house appreciates in value, it doesn’t matter how much cash you have in it, you still get to enjoy the increased value!
Do you think it's a good idea to keep your money parked, earning nothing, until you sell the house?
What if instead, you keep your cash and we get you a mortgage to buy your cottage? Any amount up to 75 percent of the home's value.

You could then use the cash to:

  • Buy a second home or some rental properties.
  • Start flipping houses or maybe take advantage of the soon-to-be-available Corona-foreclosures.
  • Start a new business or grow the one you already have.
  • Buy a boat!
  • You could buy a boat and start a fishing business!
    There are no limits or restrictions, It’s your money! And it's not taxable!

If you already bought a home using mostly cash, you can enjoy the same strategy by accessing the equity – the cash – that’s sitting in your house. You do not need to sell the house. You just need to replace the old loan with a Cash-Out Refinance Mortgage.

You may have already experienced the hassle of what we’re suggesting.
Like this client:I wanted to get a property refinanced recently because I had paid off the original mortgage. I wanted the funds to invest in additional properties. I had my CPA send the lender my personal and business financial reports and tax returns. The lender received everything but never called back.

Apparently, that happens a lot. They may be overwhelmed or inexperienced. They may only work on cookie-cutter deals and don’t know where to begin with a client of your status. If you don’t fit into their normal way of doing business, they freak out. They would rather spend their time working with people that have a 9 to 5 salary or an hourly paycheck. Their paperwork is much simpler!

Trust us, we know how it feels when mortgage lenders get hung up on the paperwork and fail to appreciate you and your success. We get it, Paying all cash just seems easier!

Another client says;I can see why some people pay cash for their homestead, it’s just so much easier than working with lenders that aren’t used to high-net-worth clients or clients that don’t fit their regular model. But it is worth finding one.
“My home was refinanced for fifteen years at 2.85%. I would never take any money that I’m able to earn 10% to 15% on and use it to pay off a 2.85% mortgage. Because the rate is so low, I will very likely take the full 15-years to pay back that note.”

The wealthy homeowners that are doing their best to maximize every dollar, will finance their homes because they can Get a much greater return investing in income producing real estate, the stock market, or their own businesses.

Said this client,I would rather have my money working for me as opposed to sitting stagnant in a home.”

We know what you're thinking, "This sounds much easier than it really is."

This client agrees: “The thought of going to some crappy lender and begging for money is not very appealing. I despise being treated like riffraff by loan agents that I would never hire to work for me.

That’s where we come in. We have been helping “Riffraff” borrowers like yourself, successfully obtain mortgages for over 17 years. We were lending to all types and sizes of “Riffraff” clients before the housing crash, during the crash recovery, and now through the Corona-Recession.

Problems we have overcome in the recent past:

  • Unmarried couples of all sorts.
  • Having too many properties already.
  • Being self-employed.
  • Veterans who don’t know they are a Vet.
  • Spouses of Veterans.
  • Movie Stars
  • Doctors, Lawyers, and Executives
  • Reverse Mortgages for retiring owners.
  • Bait & Switch Lender Victims.
  • Angry folks who were told untruths and turned down by lazy lenders.

We understand your concerns, your reservations, your reluctance. Sometimes it is just easier to pay cash. But it doesn't  have to be that way.

Listen to these happy home owners:
“Great teamwork and communication! The BEST loan experience I have had in all my 25+ years as a Realtor!!!”

“I had the best experience with Carol and her team. First let me explain why; I went to 2 different lenders to get approved. The first one said they can only approve me for a very small amount, and the second one approved me but 15 days into escrow, they told me that they couldn’t lend to me. Instead of losing my deposit, I called Carol and she got me approved and into my new house. I am very happy with her and her team. I would recommend her to everyone.”

"Today, my fiancé and I made our first mortgage payment for our home together (which Carol kindly reminded us of)! We would not have sealed the deal without their creative solutioning after our first loan fell through. For that, I definitely recommend Carol Does Loans to friends, family, strangers. The whole team is very responsive to any request/question, and professional as well. We will be connecting with Carol Does Loans in the future to refinance and we can't wait!
Thanks for all your work on securing our Dream Home!”
Want to read more good shtuff? Go to Testimonials

Wealthy, working, “Riffraff” are not poor and they are certainly not stupid. They’re just troublemakers. At least that’s what the Unicorn Lenders think. You know, the lenders that advertise “Get pre-approved in 3 minutes, instantly, over the phone, online, today!”
Sounds Utopian! Until they ask if you own a business? Or do you have multiple properties? Or do you earn shloads of capital gains? Or any other issue that’s out-of-their-ordinary and not paint-by-their-numbers.

Carol Does Loans. All of them!

Any Home – Any Loan!

Carol Does Loans understands the need for thinking outside the box, going the extra mile, and getting you the best deal. Carol Does Loans  is like Neapolitan Ice Cream - some clients are vanilla, some are chocolate, and some are strawberry.
We don't care - We like 'em all!

There are several loan choices you will need to make. For example, if you don't plan to keep the house forever, you might like an ARM - Adjustable Rate Mortgage - which would lock the lowest interest rate for for 3, 5, or 7 years.

If you think you might live in your new home a little longer, we can get you a 15-year fixed-rate mortgage at a slightly higher but still super low rate.

And if you absolutely love the cottage and want to be buried there, we can get you a 30-year fixed-rate at today's ridiculously low rates.

All three of those options can be financed for under 4 percent, with the ARM being cheapest, then the 15, and lastly the 30. Since you're living in what we call The Jumbo Loan part of town, you will need a down payment of at least 25 percent. The difference - 75% - is how much cash you can keep for other cool stuff!

The mortgage on that 75% percent would be $1,500,000. At around 4% APR, the total cost of the mortgage would be $2,578,043 over 30 years.
If you invest $1,500,000 into an S&P 500 index fund, also for 30 years, and earn the average annual return of around 10 percent, Your investment would increase to around $26,174,103.

(Those numbers are estimates and every situation is different! But the strategy is the same and it could work for you!)

If you choose to take advantage of this simple strategy, we recommend seeking advice from your financial advisor - not your neighbor or your uncle or your broke best friend!

If you don’t already own a home and you are cash poor, then you need a new plan -a different plan than the one that got you here – cash poor. You need to keep saving, keep investing, maybe take advantage of home loans with No Down Payment or Rehab Loans to finance the repairs of your first flip.
Change whatever you’ve been doing because You must have cash to be cash rich!

And remember, if you are a Veteran, you can refinance and take out up to 90% of the value of your cottage. If you are buying a new home, you can finance the whole thing - 100% financing!
Don't know if you qualify for a VA Loan? Go to VA Loans

Give us a call, It's FREE!
 (916) 566-1100

 We love Riff-Raff!

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