FOR FURTHER INFORMATION:
COMMERCIAL | Condominium Projects, Land Acquisition & Development, Mixed Use Properties, Office Buildings, Special Purpose Buildings (Car Washes, Houses of Worship, e.g., Churches, Mosques, Synagogues), Warehouses.
CONSTRUCTION | ALL Property Types in California & Florida
MULTI-FAMILY | Apartment Buildings | 5+ Units
RESIDENTIAL | 1 -4 Units | Single Family Residences, Duplexes, Triplexes, & Fourplexes
Building Capital, Inc. is integrated with Fannie Mae Desktop Underwriting (DU), Freddie Mac Loan Prospect Advisor (LPA), and FHA. Areas of expertise include purchase loans, refinance "rate & term" loans, refinance "cash out" loans, and alternative documentation loans including DSCR, NON-QM, NONI & Bank Statement loans.
REVERSE RESIDENTIAL | 62 & Over? Ask Me About a Reverse Mortgage!
Building Capital, Inc. is a mortgage brokerage, approved by the wholesale divisions of various reverse mortgage lenders to originate reverse mortgage for qualified borrowers.
A reverse mortgage is a loan available to homeowners, 62 years or older, which allows them to convert part of the equity in their homes into cash.
The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care. However, there is no restriction how reverse mortgage proceeds can be used.
The loan is called a reverse mortgage because instead of making monthly payments to a lender, as with a traditional mortgage, the lender makes payments to the borrower.
The borrower is not required to pay back the loan until the home is sold or otherwise vacated. As long as the borrower lives in the home he or she is not required to make any monthly payments towards the loan balance. The borrower must remain current on property taxes, homeowners insurance and homeowners association dues (if applicable). Property Taxes and Homeowner's Insurance remain items the homeowner continues to need to pay.
DISCLAIMER: "This material is not from HUD or FHA and has not been approved by HUD or a government agency." The information below is for general purposes only. Consult your attorney or CPA to obtain legal or tax advice.