Get Rich Education
Get Rich Education
Dec 14, 2020
323: How To Qualify For A Mortgage Today with Caeli Ridge
Play • 39 min

The deal is the debt. Why? Because mortgage rates are at all-time lows. People are buying property like crazy.

Learn why 30-year fixed rate mortgages are a great deal for the borrower and a bad deal for the lender. 

Caeli Ridge, President of Ridge Lending Group, tells us about qualifying for income property loans today. 

Your first 10 loans single / 20 loans married for 1-4 unit properties have the best rates and terms: 20-25% down, 50% max. DTI, super low interest rates.

For more loans, called “non-QM” loans: $135K minimum size, 75% LTV, higher interest rates. 

Opinion: Fannie & Freddie will stay in conservatorship, keeping mortgage rates low.

Conforming loan limits will increase from $510,400 to $548,250 (SFH), and higher for 2-4 unit properties.

Rate & term refinances - SFH: 80% LTV | 2-4 unit: 75% LTV

Cash out refinance terms - SFH: 75% LTV | 2-4 unit: 70% LTV

We get an update on appraisal climate. I educate you on the three appraisal approaches: cost, income, comparison.

Ridge does loans in 43 of the 50 states, all except: AK, ME, ND, NY, VT, WV, WY. 

Resources mentioned:

Mortgage Loans:

RidgeLendingGroup.com

Phone:

(855)747-4343

E-mail:

info@ridgelendingroup.com

Show Notes:

www.GetRichEducation.com/323

Top Properties & Providers:

GREturnkey.com

EQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

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