Giacomo Stanghellini Mortgage Broker

03/14/2024

The most popular hard money lender in South Florida is looking for deals!

If you need financing on a Real Estate property and you don't want to submit all of your life info to a bank, in a process that could take several months, think of a better way.

We lend for Construction loans, Bridge loans, Mortgage loans, Cash-out loans...

We only ask for two things: the first, is that the borrower participates to the deal with at least 30% of their own money or equity in the property; the second, is that the property be in good standing. We do not finance distressed properties or properties that are going under foreclosure.

We will do our due diligence and if a property is distressed or undergoing foreclosure we will reject the deal.

We only finance safe deals and we can charge as little as 10% interest rate (10.4713% APY), depending on a several factors of the deal.

If you need money for a safe deal and you are already invested at least 30%, call us.

PS: we only finance Real Estate, no businesses or other.

Mortgage Loan Officer in the states of Florida and Georgia

10/13/2023

I can assist you with second mortgages or second-position liens 📝

We understand that homeownership is a journey filled with many financial decisions. One such decision that might come your way is the prospect of obtaining a second mortgage. To find out how does a second mortgage work, and what does it mean for you as a homeowner click on the link below.

👉 mortgagedepot.com -> Market Insights

05/18/2023

One of the most common questions we hear from home buyers is, “How long does it take to get a mortgage pre-approval?” The answer varies based on several factors.

What is a mortgage pre-approval and how long it takes to get pre-approved find out in the link below.

🔍 mortgagedepot.com -> Market Insights

05/18/2023

Investment property mortgage rates are above current market rates. Learn what impacts your rate and how to find the best deal.

11/01/2022

Temporary Buydowns Soften the Blow of High Interest Rates
MortgageDepot, Mortgages for self employment
Houses have among the highest price tags of anything you’ll ever purchase. When you add interest, the cost becomes unfathomable for some. Fortunately, even in today’s soaring interest rates, there are ways to decrease the punch to your bank account. One way is through applying a temporary buydown.

At MortgageDepot, we understand your desire to be a homeowner. We also know that the thought of spending that much money on anything might have you running in the other direction! Today we’re going to discuss how you might be able to ease the financial blow with a temporary buydown.

What Is a Temporary Buydown?

A temporary buydown allows the buyer to bring more money to closing in exchange for a lower interest rate for the first few years of their loan. The buyer will use this money to purchase “discount points” (sometimes called “mortgage points”). They can use these points to apply a set percent decrease in their interest rate, depending on the structure of their buydown program.

Are All Loans Eligible for a Temporary Buydown?

Through MortgageDepot, temporary buydowns are available for many loan types. Here are the ones that are eligible:

Conventional primary and secondary residence purchases
FHA primary residence purchases
VA primary residence purchases
What Does a Temporary Buydown Look Like?

Temporary buydowns can be set up differently, depending on your needs. At MortgageDepot, our most common buydown program is a 2-1 Temporary Buydown on a Conventional 30-Year Fixed Mortgage. Here is a quick glimpse of what this structure looks like for a loan with a 5.75% interest rate:

The borrower’s interest rate would be 2% lower in year one, making it 3.75%
In year two, the borrower’s interest rate would 1% lower, making it 4.75%
After the end of year two, the borrower would pay the full interest rate of 5.75% for the remainder of the loan.
One discount point does not always equal a 1% decrease in your interest rate. Talk you your loan officer to see how much your discount points are worth.

Contact me Today!

Do you need a little time to get used to the demands of being a homeowner? A temporary buydown lets borrowers experience lower interest rates while juggling their new financial responsibilities. Contact me today to see if a temporary buydown program is right for you!

10/06/2022

We Finance Non-Warrantable Condos

At MortgageDepot we understand how challenging it can be to find affordable financing for a non-warrantable condo. You may have already tried to apply for financing with other lenders in the past, and you may have been told that your condo is not able to be financed because it does not qualify for a Fannie Mae or Freddie Mac program. While non-warrantable condos can pose a challenge when you are applying for financing, there are financing options available.

We have competitive rates for condos that have been classified as non-warrantable, and we can help you to achieve your financing goals with our excellent program options.

There are several financing solutions that may be used to help you achieve your objectives. Our financial professionals understand the unique challenges posed by condos that are non-warrantable, and we have the experience to help you set up competitive financing for your property.
You can expect us to assist you with non-warrantable condo financing under the following terms:

- Offered as both Non-Agency and our Non-QM program
- Less strict guidelines than standard warrantable condos
- Minor litigation may be considered on a case-by-case situation
- Projects 10-30 units. No single entity can own more than 3 units (Projects less than 10 are limited to 1 unit. Warrantable is flat 10%)

It can be frustrating to attempt to find financing for your condo when it has been classified as non-warrantable, but there are options available for non-warrantable condos. At MortgageDepot we specialize in providing financing solutions that are competitive and that meet our clients’ needs. When you have a property that is difficult to finance, such as a non-warrantable condo, you can reach out to us to learn more about the financing solutions that are available.

**Currently due to COVID-19 epidemic this program is only available in New York and Florida.

10/06/2022

You can qualify for more loans under our Investment Portfolio program that has offers specifically for investment properties.

We know there are borrowers looking to finance multiple properties, but may not meet the eligibility requirements for conventional loans. It doesn’t have to end there! Check out our product highlight below!

Here’s the Scenario
The Business Partner is assisting an investor that wants to purchase a $700K, two-unit property. This will be his 11th financed property, he wants to put down only 15%, avoid paying any MI, had a short sale two years ago, and has a credit score of 660.

The Solution – Investment
The Investment product allows us to provide our investor borrowers the opportunity and flexibility to buy more investment properties.

More details below:

-Loan amounts from $100,000 to $2,000,000

-85% LTV with a minimum FICO of 660 (80% LTV with a minimum FICO of 620)

-No MI

-Unlimited financed properties

-Financing for non-warrantable condos and condotels allowed

-Delayed financing for cash purchases – buyers can finalize sales with a cash offer and quick closing

-24-month seasoning from BK dismissal/discharge date, foreclosure, -Notice of Default, deed-in-lieu and short sale completion date to application date

-Seller contributions up to 6%

We are experts at financing investment properties, we can now finance up to 85% of the value of the property. Do not hesitate and contact our offices and we’ll connect you to a loan officer that will explain and go over this investment property mortgage program.

10/03/2022

The beautiful state of Georgia is now fully serviced by our team!

09/21/2022

It's possible to buy a home in the U.S. as a green card holder, nonpermanent resident, DACA recipient, or asylee. Here's how.

09/21/2022

Work with a broker and save money!

The latest HMDA data (Home Mortgage Disclosure Act) from the government shows that independent mortgage brokers are saving borrowers $9,400 compared to retail lenders and mega banks. It is a fact that independent mortgage brokers are the best way for consumers to get a mortgage, and the best place for a loan officer to work. If you are looking for someone locally that can help you save money when buying a home or refinancing, go to FindAMortgageBroker.com.

09/17/2022

Bank statements say a lot about a mortgage applicant. Check for three common issues when turning your account paperwork in to your lender.

07/21/2022

Real estate and lending expert Michael Bourque explains why older housing is better and cheaper than new-builds for first-time home buyers.