Welcome to R Mortgage Company
I founded R Mortgage Company in 1991 after having worked in banking, financial and lending services since 1981. Many of my clients tell me that my strong point is my commitment to customer service. Many clients have had long term relationships with me. In fact, a large part of my business is comprised of repeat clients and their referrals. My goal is to keep things clear and understandable for clients of all levels of experience and knowledge and to provide a personal touch and sense of client advocacy that is sometimes missing in business today. Just as no two loans are alike, no two business relationships are alike. I work with my clients as well as for my clients. The breadth of my experience and my honesty will give you confidence and trust that you are getting the best information for your situation. When you call R Mortgage, chances are that I will answer the phone personally. If I am not available and you choose to leave a voice mail message, I will always try to return your call promptly. From A to Z, lending is my business! Give R a call and see why so many of my clients return and refer others.
100% Loan-to-value (LTV). High LTV loans
These loan programs are not necessarily for those with excellent credit but are for those who may not have the typical down payment of 5%, 10% or more. There are a number of different loan programs including the 3/1, 5/1, 7/1 ARMS and 15 and 30 year fixed. Call me to determine if it is possible to structure a transaction and avoid the higher LTV programs. It is also possible to finance an additional 3% for closing costs with certain restrictions (103% LTV).
No Income or Asset Verification loans
These programs work well for those with income that is harder to evidence. Verification of income and assets (down payment) are not required. Information concerning income and employer(s) and banks and assets are not requested on the loan application. I would be happy to discuss the best choice for you.
Commercial loans
From shopping centers and churches to motels and industrial, I have sources. These transactions usually require the analysis of the past history (debt coverage ratio, vacancy, expenses, zoning, market rents, environmental, lease(s) information) of the property as well as the credit worthiness of the borrower.
Less than perfect credit loans
From a recent Bankruptcy, foreclosure or deed in lieu of foreclosure to numerous lates, collections, judgments, liens, etc. I have sources. The lending industry is moving more and more to credit scoring. I have sources for low credit scores as well as sources that do not take credit scores into consideration. Can something be done if the information contained within your credit report is incorrect and as a result is hindering your ability to get a loan? Often times the answer is yes.
|
|
|
|
Stated income and No ratio loans
Different from the No Income and No Asset Verification Loans the Stated Income loan requires that the borrower state the income on the application but the amount may not be verified. The No Ratio loan requires that the income is stated on the application and is verified but the debt ratios typically used for qualifying are not computed. Loan-to-values (LTV) as high as 100% are available. I would be happy to discuss the best choice for you.
No Cost loans
By accepting a slightly higher interest rate the closing costs can be paid by the broker. Certain restrictions apply as to the type of costs that are allowed to be paid. For instance, property taxes (if due), home insurance (if due) and prepaid interest are typically not allowed to be paid by the broker. To determine if a "no cost" loan is appropriate for you consideration of how long the loan will be kept is important. Call me and we can do an analysis of your transaction.
Cash Out loans
Depending on the loan-to-value (LTV) and lien seasoning factors cash out refinance are allowed. In some instances MI (mortgage insurance) may be required. I would be happy to discuss the options for you.
Multiple Units loans
There are great many sources for 1-4 units purchases and refinances. However, when looking for financing for 5 or more units the playing field narrows. I do have excellent sources for both 1-4 and 5+ units. Both ARM (adjustable rate mortgage) and fixed rates are available. Call for LTV (loan-to-value) limits and guidelines.
High Loan-to-value (LTV) loan (up to 125%)
The "125" loan is a 2nd. mortgage and is available for a variety of credit grades. Debt consolidation and cash out are common reasons for this loan. Even higher LTVs are available for special circumstances such as home renovation. This loan may or may not be appropriate for your situation. Call for advice to determine appropriateness.
Competitive Rates (Large number of sources)
For virtually every lending situation, I HAVE A SOURCE. The availability of competitive Interest rates and programs is dependent on the lending sources. R Mortgage Company from the start has made obtaining and building relationships with lending sources a high priority. Check out R Conforming rates (loans up to $300,700) and Jumbo rates (loans greater than $300,700).
Borrowers Comments
Mike has helped us with all of our mortgage needs for the past ten years. He is very knowledgeable. He knows mortgage! Mike provides fast, friendly service and advice. Very personalized service and has a good knowledge of the market and upcoming events which affect interest rates. Highly recommend.
Domenic Dionisio
Controller
Acme Security
San Leandro, CA
Mike has provided excellent service over the last 10 years! I strongly recommend Mike for your financing.
Ron Possehl
Director of Sales
ADP
San Ramon, CA
Over the years I have felt very comfortable referring my clients to Mike because of the positive feedback I have received and also because of the way he handled the refinancing of my home and rentals. I will continue to refer my clients.
William J. McAvoy, C.P.A.
William J. McAvoy Accounting
Castro Valley, CA
I don't have the time to watch mortgage interest rates, Mike knows this and over the years has formed a thorough understanding of my mortgage needs and homeowner goals. Even though we have never met in person, he is able to provide me with efficient and personalized service that exactly meets my needs.
Karin Pendl
Senior Director of Planning/Analysis
Maxtor Corporation
Milpitas, CA
My friends and I have done several loan transactions with Mike each time with satisfactory results. I would not hesitate to recommend Mike again.
Minh D. Vu
Castro Valley, CA
When I needed financing for my first home I did not want to be limited to one mortgage bank's offers. Mike patiently explained all my options, and then found the right loan for me. Later, my friends could not believe what a low interest rate I pay.
Jorg Mossinger
Marketing Communications Consultant and Web Developer
Newark, CA
Mike will not only obtain a great loan for you. He will continue to watch the rates to see if there is a better than great loan out there. Thanks for the great service.
Suzette & Ken Webster
CFO & Investigator
Attorney Services
San Jose, CA
Mike will work for you to get you the best deal that fit your needs. He has done that consistently and professionally over the years.
Joseph Le Chevallier
Director, Finance Systems
Covad Communications
Sunnyvale, CA
We have found that working with Michael M. Frandy of R Mortgage Company to be a very positive experience. His work and dedication in helping us get the best rate was commendable. He was professional and attentive to our needs.
Marcia & Ed Trujillo
Martinez, CA
