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I think about this when putting a house in your name as opposed to putting a house not in your name so people can't find out.
Where you live.
Different things of the nature yeah, what's the what's the deal with that? So, when you're buying a property, and if you're using a non QM loan, a non QM loan is a non qualified mortgage that basically means that Fannie Mae, Freddie mac fha VA won't purchase that loan in the secondary market. Right this is a portfolio loan, which more non traditional lenders will use for non traditional buyers.
Right now, if you're buying a primary residence, there are several lenders out there that will allow you to buy that primary residence in your LLC name. Right we are living in the post pandemic era where a lot of people have made a lot of money over the past two years, and folks are buying you know, their mini mansions and their the mansions right now. And if you don't want the world to be able to find you, the best way is to put it in a LLC. So that way they can't google your name and find
you because it's in the LLC. So now the mortgage is in the LLC name, the deed of the properties in the LLC name. You own the LLC, the LLC owns the property, so it's the same. It's the same way as if you're buying investment properties and putting in LLC, but this just so happens to be your primary residence. So there's several lenders that out there that will allow
you to do this. But again, interest rates wise, right now non QM loans is going to be in that seven to nine percent range, just depending on the lender and the deal that you're doing, but it can get done. I've done several loans like that over the past twenty four months where I'm working with celebrities or influencers and we're using these products to kind of shield their identity. And then also when you set up the LLC, and it's gonna be a brand new LLC too. By the way,
it doesn't need to established business credit. You can have a minimum of a six forty credit score. Obviously, the lower the credit score, the higher interest rate. But the key to this is when you open up the LLC. You know what it says you open an LLC, It says registered agent. You don't put your name there as
the registered agent. Because if someone looks in some way somehow finds that LLC and your the name is the registered agent, then obviously they're going to know you own it, so you got to have another registered agent's name there.
So that way you showed it as well.
But yeah, that's a play right now that we're using on a daily basis and my mobile. It's the highest interest it's a higher interest rate. It's gonna if you have a lower credit score, but if you have seven hundred plus credit scores, because you're still personal guaranteeing the loan. I want to make that clear too. Although it's going in the LLC's name, you as the owner, are personal guaranteeing it.
So if you.
Try to skip down and not pay the bank, okay, they're gonna just put it on your personal credit and then they're going to come after you. So yes, the higher credit score, the lower the interest rate, and then today's market, that lower rate will represent probably somewhere in the sevens the higher nine ten percent, especially if you're not low six hundred credit score.
So, are there are ways and I saw you post this as well, are there ways to lower.
The interest rate?
Obviously we've seen them going up over the past twelve months and come down slightly over the past month or so, are there ways that we can use or strategies we can use to lower our interest rates when it comes to.
Finance, and all for primary residences or I let's.
Take primary and maybe I guess so yeah.
So if we're talking the traditional route right conventional FHA, you could do what's called a two to one by down right now, two to one buy down is it used to be popular during the wild cowboy days. It was totally underwritten different, but now I like the way the program is. So basically, essentially, as a two to one buy down, you need to sell this concession, the fundness buy down. You the borrower, cannot use your own
moneies to do the two one buy down. So how it works is a lender, let's just say you're doing the FHA loan. Let's just say today's race five and a half percent on the thirty year fix. For example, the first year your interest rate will be three point five percent, the second year the rate will be four point five percent, and year three to maturity date will be the note rate of five and a half percent.
So the lender will determine how much money are you saving between three and a half percent and five and a half percent and four and a half percent and five and a half percent.
Ernest, what's up?
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An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, a tempted illegal border crossings are at the lowest levels ever recorded and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to
return legally. Do what's right, leave now. Under President Trump America's laws, border and families will be protected.
Sponsored by the United States Department of Homelandsecurity.
So let's just say over those two years, you're saving a combination of ten thousand dollars, right, you need to get a sealess concession of ten thousand dollars to fund that to one by down and that essentially will give you the opportunity to have a lower rate for the first couple of years. It's kind of like the teaser rate, so it will be but it's a thirty year fixed program.
And the idea behind this is, and this is why Linda started bringing this program and back when rates jumped up, is because you know what, lenders are still going to lend. We're going to be creative, We're going to figure this shit out. Right, it's totally illegal, so we're going to bring back products that makes both sense and sense for
all parties involved. This is a way to make home ownership affordable over the first couple of years while we ride the wave of this current cycle, and when rates tick down, there's going to be a refinance boom in the next twelve to eighteen months, maybe sooner right now. Another way is to buy down points. Buying down points now, you can fund this with a salize concession, or you can use your cash out of your bank account to buy down points, and it's part of your closing costs
as well. And one point is equivalent of one percent of the loan amount, So if you're buying, let's just say it's a five hundred thousand dollars loan, one point is five thousand dollars, and that will bring your rate down, depending on the lender, a quarter of a point to three eighths of a point. So if it's off at five and a half, you brought a point, it will go to five point one two five percent or five
and a quarter on a thirty year fix. And and each point you buy will knock down quarter to three as of a point, So that's also another way that
you can bring down your interest rate. But ultimately, the way to lock in the lowest rates possible is to have the highest possible credit score that you can have, especially in today's market, where you know, even if you have a seven hundred credit score, you might not still get the lowest rate, whereas a year ago that still would give you a great rate at seven hundred and
seven to twenty. No, you really have to be in that if you're going conventional, you really have to be seven forty seven sixty and higher right now to really get that whatever that national rate that people see online with no points, you really have to be in that higher upper echelon of credit when you're talking conventional now, FHA, you can have a six eighty seven hundred credit store still get a great rate with those scores.
So in that first scenario, going from's that example three point five to five point five, after it gets let's say after that third year, is it capped at the five point five?
Correct? It's capped, right, So it's not an adjustable rate.
Correct, it's not adjustable rate. It's a thirty it's a thirty year fixed mortgage. But speaking of adjustable rates, that's another way, but adjustble rates, you got to really look at the math and see does it make sense for me to take this adjustable rate because the a five year so adjustment rates are typically fixed for five years, seven years, or ten years, and then after that it adjusts for the life of the moment. Depending on where the market is, the rate can go up and go down.
So folks who had adjustable rates prior to the pandemic
they won because they rates. If there was an adjustment phase, they rates dropped down so they didn't really necessarily have to refinance and pay closing costs and things like that because the market was in a favor now on a flip side, big difference, so they I advise all my clients and people who I was speaking to who had adjustables, you might as well get out of it because the ten, fifteen, twenty, and thirties the cheapest has ever been, So it doesn't
make sense to play the risk. But in this market, adjustable rates make sense. For someone who is not looking and they know that not going to stand at home for the long term. This is not a thirty year play for them.
This is a five year place.
So if you know I'm gonna be in this house for five years, and I'm just using this as my starter home. I wouldn't recommend getting a five year ARM. I would probably say do a seven or ten because life happens and you never know. And if you see an opportunity to refinance over the next couple of years and you still own that house, take advantage of the refinance opportunity as well. So adjustable rate mortgagees can work if it makes sense, But in most cases, from what
I'm seeing, sometimes it just doesn't make sense. My graduates from my school being forced bad drops.
An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine. Nearly one thousand dollars a day. Imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.
Do what's right. Leave now. Under President Trump America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security,