We specialize in providing loans for Horse farms and Equestrian Centers, Vineyards, Fruit & Vegetable Farms, Hobby Farms, and more. If you have a farm that Fannie and Freddie can’t assist with, MortgageDepot is here to help. One of the key benefits of working with MortgageDepot is the competitive rates ranging from 7.5% to 8.5%, you can trust that you are getting a great deal on your farm loan. Additionally, MortgageDepot offers a maximum loan-to-value (LTV) ratio of 70% or 75% on loans under $550,000. Specialize in Horse farms and Equestrian Centers Vineyards, Fruit & Vegetable Farms ..read more

If you are an experienced real estate investor looking to purchase a condominium for short-term rental purposes like Airbnb or VBRO then our DSCR Loans is the only answer. In a recent scenario, a real estate investor with a FICO score of 751 is eyeing a condominium with a purchase price of $545,000 and an LTV of 75%. The condominium has a high investor concentration of 85% and offers front desk check-in and cleaning services, making it an ideal choice for short-term rentals. Our DSCR product is the perfect non-QM solution for this scenario. With our DSCR Loans, investors can benefit from unlim ..read more

If you are preparing to purchase a property in a rural area or if you are thinking about refinancing your existing mortgage on a rural property, USDA (United States Department of Agriculture) loans available through MortgageDepot may be the right solution for you. Finding the right loan program for your needs is imperative if you want to achieve your unique goals, but not all lenders offer loan programs that are ideal for rural properties. The USDA  Rural Development Guaranteed Housing loan program is uniquely available to you through the U.S. Department of Agriculture, and you ..read more

We are thrilled to announce the successful funding of a mixed-use property through our investor 2-8 mixed-use and 5-10 unit residential DSCR program. At MorgageDepot, we are dedicated to helping our real estate investor clients achieve more and grow their investment real estate portfolio. The featured property is a commercial and residential building located in Melville Long Island, NY. It consists of a restaurant, office space, and two residential apartments. The maximum commercial space is 49%, making it an ideal investment opportunity. Through our DSCR Mixed Use pro ..read more

Have you recently bought a home and paid for it in cash? Now, you might be looking to pull cash out for home improvements like building a pool or simply need the cash – that’s where delayed financing comes in. Borrowers who purchased the property within the last 6 months are eligible for a cash-out refinance. This is calculated from the purchase date of the property to the disbursement date of the new mortgage loan. The original purchase must have been an arms-length transaction. To qualify for this refinance, borrowers must meet certain eligibility requirements, including General Borrowe ..read more

Our buydown loans offer a reduced interest rate for the initial one or two years, with the seller covering the cost. Take advantage of offering our 2-1 and 1-0 Buydown program to provide borrowers with the opportunity to secure a lower interest rate for the first one or two years. This program allows borrowers to benefit from reduced monthly payments and potentially save money in the long run. 30-year Fixed Rate Mortgages Eligible for Primary Residences only Includes Single Family Residences, PUDs, and Condos Available for FNMA and FHA loans High Balance option available FNMA HomeReady p ..read more

Here at MortgageDepot, we recognize and support the entrepreneurial drive of self-employed individuals. Unlike many other lenders, we embrace the opportunity to work with newer businesses. We are at the forefront of offering non-QM lending solutions tailored for self-employed individuals who have been in business for less than two years. – Self-employed individuals with a minimum of 18 months of experience Only three years of experience needed in the same business line Flexible Loan-to-Value (LTV) options: up to 80% on primary residences, 75% on Second Homes, and 70% on Investment Properties ..read more

Are you a self-employed borrower looking to secure a mortgage? Well, we have some great news for you! At MortgageDepot, we do not always require business tax returns for self-employed borrowers. That’s right – you read that correctly! When it comes to funding for closing costs, down payment, and reserves, all the funds must come from the borrower’s personal accounts. This ensures transparency and simplifies the process for self-employed individuals. In addition, we have specific criteria that must be met for self-employed borrowers to qualify for this benefit. The borrower must have been self ..read more

Our borrower is looking to refinance their primary residence, which includes an accessory dwelling unit (ADU) that has been rented out on a long-term lease. They are interested in cashing out to purchase an investment property and rely on the income from the ADU to qualify. With a FICO score of 740 and an LTV of 75%, the borrower can provide a lease and two months of rent receipts for the ADU. The accessory unit is legal, and the market rent is reflected in the appraisal on FNMA form 1007. Non-QM Solution:  When it comes to the treatment of monthly qualifying rental income or loss in the ..read more

A DSCR loan is a specific type of financing that mandates the borrower to uphold a particular ratio of cash flow from rental properties to debt obligations. This ratio, known as the debt service coverage ratio (DSCR), guarantees that the borrower can meet their loan payments. Title can be held in an LLC, S Corp, C Corp, or trust No limit on the number of financed properties Eligible properties include single-family homes, condos, townhomes, and condo hotels with 2 to 48 units Options for 30-year fixed or 40-year fixed with interest-only option No need for tax returns, W-2s, or pay s ..read more