Current Home Lending Info Blog for Southern Nevada

We are going through quite a few refinances here at The Schwartz Group Team, mostly FHA Streamlines.  For those that don't know, FHA Streamline loans are loans that are kind of like the loans of old, where they do not require an appraisal, verification of assets, verification of income, or any of the other normal requirements that are needed to close loans currently.  The reason this loan does not require the strict regulations that loans of today require,is because they are only allowed to refinance loans that are currently in an FHA Program.  Since they have already gone through the regulations when they originally put the borrower in this program, it is a very simple loan to do, closes in two weeks, and just drops the rates to whatever their current market value is, so if anything the FHA Streamline Program would better the situation of the borrower who was originally put in an FHA loan because they are just lowering the payment.

Now is a good time to contact your loan originator and speak to them about refinancing your FHA loan, even if you were put into the new loan within the past three months.  This loan can still be refinanced, and the rates have gone down now to a rate that would benefit most people who have purchased within the past year.  It is also beneficial to speak to an originator about your loan, especially if you have been in your home for 5 to 10 years or longer and have or have not been placed in an FHA loan because we can look at putting you into an FHA loan, or possibly a conventional loan.  By the end of this weekend, we will also have the form on the front page of this website allowing you to sign up for the opportunity to refinance those loans that are upside down 125% on their home once the government makes the program available.  It is important to sign  up on our home page, as we can notify you immediately when the programs become available and put you first in line to take advantage of this opportunity.  The benefit of this is that once this becomes available to the public, it will do the same thing that FHA Streamline Loans did in January and create an influx of deals, causing 30, 60, 90 day delays, which means extensions on your loan rate, which means costing to extend or get a higher rate, so by filling out the form, you will be told right away when the programs become available.

The Government tried to help the U.S. Homeowners originally by allowing refinance programs up to 105% upside down in their homes.  the only problem with that is that most people are not just upside down, but they are upside down quite a bit more than just 5% of the current home value.  So, now with the 125% program, it will provide a great deal of opportunity that people who have been paying their mortgage on time have been waiting for.  You will be able to take advantage of current rates and terms, and be able to get your mortgage payment down and reduce your overall expenses  which will, hopefully, allow your expendable income and improve our overall economy!

To find out more about Refinancing, Conventional or FHA loans, please contact your loan originator, and always make sure to get a second opinion!  Shopping for loans is a free process, and I tell this to the people I work with as well.  Even if you are doing a loan with your mother who is your loan officer, you still want to get a second opinion because you would be shocked how many people I prepare loan comparisons for and they are getting a horrible deal, even from loan officers they consider good friends or relatives of theirs.  It's absolutely amazing.  So make sure you do your homework...

To get a hold of me, you can contact me with the information on the "Contact us" Page, email me at david@homeloansofnevada.com or you can call me directly at 702-370-2116.

Look for our next blogs coming up that is going to introduce you to some of the other products that we do that help out in ways that are needed in our marketplace.  They are loan programs, mostly for commercial lending that fills a void for the loan programs of old that were once in their place, and have been left vacant due to a downturn in the commercial lending world as well.  We have spent a great deal of time to make sure we could put products in their place, that while they may take one or two loan products to make up for the same amount of work and money that was being produced, it is a viable option not being offered in the way we put them together, anywhere else out there!  Enjoy...

Best Regards,

David J. Schwartz

The Schwartz Group, Inc., a team of

Envision Lending Group, Inc.

Direct  702-370-2116

Email   David@HomeLoansOfNevada.com

Now that we have introduced our commercial company, Commercial Capital Group, Inc., it is now time to go into some of the programs that have given us some of our best response.  One of our most popular programs is our Unsecured Business Lines Of Credit.  Now, with this loan, there has been many lenders out there that have advertised this product, letting you know that it what was one of the best ways to get a substantial amount of money in a short amount of time.

Doing this loan for over two years, and working at one point on over 45 deals per month of this Unsecured Business Line Of Credit (UBLOC), I can tell you that we had, in the past, advertised this loan program for loan amounts ranging up to $300K to $500,000.  The requirements for this type of financing were very loose, in most cases only requiring that  you carry a 680 to 700 credit score, and have a two year history on an LLC or Corporation for two years.  

We had established a business that would get you an established corporation that was two years old, and we would put the corporation in your name, and as long as you had the credit scores above 700, we were funding $200-$300K on average for these clients.

However, this did not last long.  With the banks that were supplying us with these loans taking a large hit in the residential realm, and then getting blind-sided by the defaulting Commercial Construction/Development Loans right after, it caused a huge scare for these banks that were playing the lending industry very loose.  Needless to say, most of these banks discontinued their Unsecured Stated Business Lines of Credit, and has been for the past two years...Until NOW!! 

As one of our flagship products that our branch really started becoming known for and built huge credibility for ACTUALLY closing these deals, we wanted to make sure that we were not going to get started with another company like the ones that are still out there now marketing that they can get $300K, $400K, or even $500,000.  However, when you ask these companies to provide proof of recent closings, not one has yet been able to do so.  With this being true even two years ago, I had decided to give up on the UBLOC, and began focusing on other products.  If I could not get a credible product that I was happy to put my name on, I was not going to put it out there.  

About a year and a half ago, I was approached to create a new chapter (along with a few other specialists in different industries) of The LeTip Networking Group in my community.  I agreed, and became appointed as The President, and held a few other various fields simultaneously while we grew our chapter.  As we met each week, we continued to grow our chapter with new professionals, allowing us to have a full chapter of professionals and began to see new faces at our meetings and mixers.  Almost a full year into being in that chapter, we had a networking mixer where I had met a man who told me that he was an Account Executive for a company that solely focused on working with loan officers to help business owners and potential business owners obtain their Unsecured Business Line Of Credit Program that not only GUARANTEED a Minimum of $50,000 in lines of credit (However, he had mentioned that most clients were getting closer to $100K within the first couple of weeks), but also provided them a free Consultant for the next year to help in many beneficial matters that would help them utilize their lines of credit, obtain more credit lines, and increase their lines maximum credit limits.  Not only that, but they also set up your business credit, known typically as your Duns Score, and help you use your credit lines and your new business credit score to get the lines out of their name, and onto their business only, releasing their personal guarantee.

Well with my long, and eventually negative, experience that I had previously had with these types of loan programs, I had a very large level of skepticism with what it was that he was telling me.  In fact, even though I was still receiving 1-3 new business line of credit requests in my email and via phone every day from marketing that my team had done from over a year ago (which we still get incidentally, showing you that 3 years later, people are still seeing our old ads and calling us because others are not doing what they say they can), I was very hesitant to call him and set up time to speak with him further as I did not believe that there was anyone out there that can do these types of deals any more, it seemed to good to be true, and I did not want to associate myself with sub-par work. 

Eventually, he had talked me into meeting with his boss, so we set up a time, and I had met them at their office here in Las Vegas.  I was very shocked, to say the least.  First, they truly were only focused on the business lines of credit.  They have about 40-50 people working in their 8,000 square foot office space, and we walked through how each client was treated and what was needed from the client.  Ease of use is also something that I like to have.  Needless to say, after leaving the meeting I thought it was worth a shot.  I was just turning down these people who were still calling me every day, so i sent 5 people over there.  Within the first month, two of those clients proved not to be credit worthy, one was on the fence because of someone else saying that they could guarantee him $300,000, and the other two had great credit and signed the contract.  By the end of that first month, both clients received their minimum $50,000 and they were still getting more credit lines for them (eventually ending up at $80K+ and $97K+).  The other client who was hesistant did end up coming back to us, by the way, two months later after he had lost $2,000 to the other "company" and was ready to work with us.

I know this is quite a long blog, but I basically wanted to let those of interest know that I will be placing my commercial mortgage company website and pages on this site as well, and this program will have it's own page.  But, unlike all the other companies that just throw out four of five "facts" about what they are offering and a couple of guidelines of what you need to have, I wanted to show you where I have been and where we are going now so that you can see, for us, it is much more than just a deal, it is about providing quality products to my clients.  In fact, my clients are now receiving their $50K, and in many times they end up closer to $100,000.  That is just the beginning, not to mention the next year of consultation you will have that will grow your lines more and more, help grow the business, and build the business credit's reputation to allow you to remove the credit lines from being personally guaranteed (even though the don't show up on your personal credit) and into the business itself.

This is an unbelievable product, and it has been tested successfully by myself and my clients.  Commercial real estate and businesses are getting more difficult every day to finance, and this is a great way to take advantage of a resource that will put working capital in your pocket.

Call us today at 702-370-2116 for more info!

Thank you,

David J. Schwartz

While many of you may not have ever heard of Commercial Capital Group, Inc., it has been a company that I, David Schwartz, has owned the Las Vegas Franchise Rights to since 2006.  We provide commercial financing to all business owners and potential business owners in Southern Nevada, and anywhere else across the United States. 

We have been working on commercial financing for quite some time, and for those that follow the lending programs of the commercial world, are aware that Commercial Banking and Lending has become the Equivalent of The Residential Downfall two years ago.  For example, in Las Vegas alone, office leases in the commercial buildings are currently at a 27% vacancy.  That is an outrageous number, and because of the pitfalls of commercial real estate, many commercial banks have had to follow suit of the Residential counterparts of their day.  Many of the commercial lenders that most have gone to and depended on for so long are now turning down these same loans they have been funding for developers for decades.  In part, this has been what has been one of the major causes of the local banks shutting their doors.  With all of the construction loans the local banks took in, they were not able to keep their doors open due to insufficient ability of the construction managers to close on time, the developers to lease out their buildings, and the business owners to pull the numbers they were expecting to pull when they opened their doors.

While this may seem like it is the end of commercial real estate, it is actually commanding developers and business owners to open their eyes to the other options available to them that were always available, but never reviewed because for so long these same developers were able to rely on their long lasting relationships.  Now that these relationships have either closed down or are no longer offering the same terms or loans that have been made available, it has opened up a huge insight into the world of Commercial Loan Brokering.

I will give you some examples of some of our current loans that we are offering in the next few blogs, but first I would like to inform you of who we aer and what it is that we do.  Our branch here in Las Vegas has been open for three years, and  have focused in many different fields of commercial lending, including Office Condos, Office Buildings, Apartment Complexes, Raw Land, Unsecured Business Lines of Credit, Owner Occupied Buildings, and just recently Securities Funding, which allows for very quick funding, no requirement to liquidate your portfolios, and rates between 4 and 5%.  I will get into this in more detail in just a little bit.

Our company is the largest commercial mortgage broker in the U.S., with offices in all 50 states, and respect amongst all of the top commercial lenders, as well as working directly with hedge funds that we provide the sales staff for, and would not be attainable throughout going throgh the channels of Commercial Capital. 

Last year, while most commercial lenders and brokers were downsizing and having record low volume reports, we had a 200% increase in our volume, and originated well over $2 Billion Dollars.  We have a massive list of investors, both public and private, that we work with as well as fundings that we do in our own name which realy gives us the benefit of being flexible on some projects that require it.

Coming next, you will learn about two of our more popular products, and go into a little about our commercial real estate products as well.

To reach us, go ahead and contact the same phone number, which is 702-370-2116, however all commercial emails should be sent to our commercial account, which is David@ccgnv.com.  I look forward to working with you in the future on all of your commercial needs!

Best Regards,

David J. Schwartz

Direct  702-370-2116

David@CCGNV.com