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Pledged-asset mortgage

Grinner 5,014 43 December 11, 2015 at 07:15 AM
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Last Edited by Grinner December 11, 2015 at 07:18 AM
Anyone familiar with these?

It seems like a good way to leverage assets to buy property without having to liquidate to come up with a down-payment. I'm thinking about getting more rental property and this would avoid some tax and give more options for a purchase.

enlightenme.com/mortgages/

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Quote from Grinner View Post :
Anyone familiar with these?

It seems like a good way to leverage assets to buy property without having to liquidate to come up with a down-payment. I'm thinking about getting more rental property and this would avoid some tax and give more options for a purchase.

enlightenme.com/mortgages/
Over my lengthy experience within the mortgage I have come across Pledged Asset scenarios for high net worth borrowers utilizing either a Portfolio Lender or a Private banking relationship.

I only know of a couple of lenders who will entertain a Cross Collateralized or Pledged Assets structure and they are really not priced competitively and usually only offer an ARM product.

For those with a high net worth Private Banking is a whole other story (and it cannot hurt asking); where structure and terms can be customized to a point, but even these days the options are reduced.

Two lenders that come to mind that I know at least used to entertain such structure was Emigrant Bank (regional portfolio lender based in NY) and Bank of The Internet; both portfolio product lenders with ARM products; however, again, you are not going to get a competitive rate.

This being said, I think this may just work for those with net worth warranting private Banking relationships.

Just my .02
-Adam
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-Adam
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#3
Quote from tiedyed1 View Post :
Over my lengthy experience within the mortgage I have come across Pledged Asset scenarios for high net worth borrowers utilizing either a Portfolio Lender or a Private banking relationship.

I only know of a couple of lenders who will entertain a Cross Collateralized or Pledged Assets structure and they are really not priced competitively and usually only offer an ARM product.

For those with a high net worth Private Banking is a whole other story (and it cannot hurt asking); where structure and terms can be customized to a point, but even these days the options are reduced.

Two lenders that come to mind that I know at least used to entertain such structure was Emigrant Bank (regional portfolio lender based in NY) and Bank of The Internet; both portfolio product lenders with ARM products; however, again, you are not going to get a competitive rate.

This being said, I think this may just work for those with net worth warranting private Banking relationships.

Just my .02
-Adam
Cash out refi on the current property to get the down payment, or a heloc, or a business line of credit if you are setup as a Corp/LLc
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