Mayer Dallal has over 20 years of experience as a mortgage lender serving sophisticated borrowers with complex financial portfolios.
Scale real estate sales with investment properties
As a realtor, the main goal is often to find a home buyer a long-term home that fits their needs. The other equally important component is selling their home for them. It’s a worthy career that helps people with their goals of owning or selling a house, and one you can feel great about at the end of the day. But in real estate, the ceiling often comes when you’re tapped out on time between listing and showing homes as well as marketing your services.
The median homeownership time frame is 13....
Is an Asset Utilization Mortgage the solution you need?
Unlike the traditional 9-to-5 job with a paycheck every two weeks, more Americans than ever are in a unique financial position. A startup founder that sells off the company for six to eight figures, an entrepreneur who takes dividends but no salary, and a newly retired CEO find themselves in similar situations – plenty of assets but no active income. If you’re in a place like that, you could find that a traditional home loan is tougher to achieve than for a blue-collar worker.
At MBANC, we’re...
Five tips before buying a vacation home
Do you have a tried-and-true destination where you default for every holiday weekend or week out of the office? Short-term rentals and resort stays get expensive quickly. If you feel as comfortable in your adopted city as you do at home, it might be time to consider purchasing a vacation home.
But buying a second home as a vacation property isn’t always the same as getting a mortgage on a primary residence. There can be implications that can make your purchase cost-effective or way more expen...
Why choose a mortgage bank over a credit union or traditional bank
Whether your own personal domicile, a vacation home, or an investment property, a home loan is a significant commitment. It comes with legal obligations and contracts, not to mention a years-long agreement to make payments on the property. However, not all lenders are alike, especially when your income doesn’t come from a normal 9-to-5 punch-the-clock type of job.
For more Americans than ever, non-traditional earnings are claimed at tax time through 1099’s of various types. Professional posit...
Tips for realtors to keep in touch with your investing clients
Lucrative income comes from referral and repeat clients. For real estate agents, repeat business is few and far between unless the buyers and sellers do so for part or all of their income. These real estate investors aren’t just another client – they’re the cream of the crop for realtors, potentially representing a massive portion of the annual earnings.
But it gets even sweeter from there. With investing clients, the opportunity to work both ends of the deal is higher, closes are often much ...
How to Win in a Competitive Market
Despite interest hikes and talk of a real estate slowdown, housing inventory is still low, and the market remains intensely competitive. But there are steps buyers can take to put themselves ahead of the pack and make an offer a seller can’t refuse.
The very first step to take is to get pre-approved for a mortgage loan, and even better, get the loan fully underwritten. That way, if you fall in love with a house, you’ll be ready to pounce, and the seller will be happy to have a fully prepared ...
Bank Statement Mortgages for the Self-Employed: The Nuts And Bolts
It takes guts to start your own business, but it takes money to buy a house. Yet self-employed people, even entrepreneurs who do very well for themselves, are frequently turned down for mortgage loans if they can’t show a W2.
Because they have so many business expenses to deduct, we’ve even seen doctors and lawyers turned down for mortgage loans because their tax return didn’t accurately reflect their true income.
We’ve also seen business owners who are frequently paid through services like V...
Mortgages for Foreign Nationals: Yes We Can
Many people without U.S. citizenship remain perpetual renters, because they believe the hurdles to home ownership are too high. In fact, there’s a clear path to becoming a homeowner through programs known as foreign national mortgages.
Foreign nationals have historically felt discouraged from home ownership due to the difficulties of establishing a credit score on U.S. soil. But foreign national mortgage programs address this by offering loans for which no U.S. credit history is needed to app...
Investor Cash Flow Loans: You Can Be Part Of The Short Term Rental Boom
The short term rental market is booming. In the post-pandemic era, many prefer homes to hotels, because there is less shared space. Guests also tend to stay longer and are willing to pay more for an entire house than they are for a room in a hotel.
You can be a real estate investor.
Many people who may have thought becoming a real estate investor was out of reach will be pleasantly surprised to learn that it’s possible to qualify for a loan based not on money you have made, but based on money...
Beware the bait and switch: go with a mortgage BANKER, not a mortgage broker
As mortgage loan application numbers dip in the face of rising interest rates, we’re witnessing some unfortunate, unsavory behavior on the part of mortgage brokers.
It works like this: a mortgage broker will advertise a rock-bottom interest rate designed to entice borrowers. But when a borrower fills out a loan application with these middlemen, they learn the advertised rate is actually out of reach for all but an extremely narrow segment of the population. The fine print might reveal, for ex...
Asset Based Loans: Qualify based on what you have, not on what you make
Maybe you’re retired, or newly divorced. Maybe you’re running a business that has plenty of assets, but low cash flow. You may be a perfect candidate for an asset-based loan.
Most lenders want to see income taxes statements or W2s. But if your monthly income doesn’t truly reflect the big picture or your worth, we can help with our asset-based loan.
Borrowers can qualify for an asset-based loan through assets such as properties, inheritance funds, retirement accounts, investments, or even cryp...
Freelancer or Contractor? Try a 1099 Mortgage Loan
When purchasing or refinancing a home, not everybody is able to provide “traditional” income documentation, such W2s in order to qualify. Freelancers or independent contractors, whose income varies, might not be sure how to apply for a mortgage loan. But MBANC’s 1099 mortgage loans are designed specifically to benefit people in this situation.
MBANC’s non-QM-1099 allows you to only use the 1099 forms that you receive from the past two calendar years to verify income. Our program verifies your...
Investor Cash Flow Loans
Investor Cash Flow Loans
An Investor Cash Flow loan is a type of loan that allows you to finance an asset purchase, such as an income property, using that property’s projected cash flow.
This type of loan is also considered non-conforming, which means it doesn’t fall under the same guidelines as those issued by Fannie Mae and Freddie Mac. A mortgage lender backing the loan allows you to get a flexible deal.
Also known as Debt Service Coverage Ratio, or DSCR loans, Investor Cash Flo...
What to Look for in a Rental Property
It’s widely believed that 90% of wealthy individuals are involved in real estate. One way to start is by purchasing a single-family home, which can provide you with a steady monthly income.
One of the essential factors that you should consider when investing in real estate is the potential for higher cash flow. This can be achieved by purchasing a property with a property management company. Before investing in real estate, it’s vital that you thoroughly research the market. There are eight k...