Tim Lucas of MyMortgageInsider interviews Aaron Crossley, VP of product Sales at Veristone Capital, among the Seattle area’s top non-traditional financing organization.
Tim: Veristone Mortgage assists people who have “outside-the-box” financing that conventional loan providers simply won’t do. What’s your many product that is popular now and why?
Aaron: for the investor consumers, our “Fix and Flip” item is through far the most famous. This system provides investors a loan that is all-in-one whenever acquiring, rehabbing and quickly offering a property for a revenue. Recently I read that almost 40% of REO’s are now being bought along with money, and our funding permits these investors to contend with those money provides.
These loans are incredibly simple for us to accept due to the fact focus that is primary the property/project. Through the underwriting procedure, we’re going to verify the contractor’s credentials, find the contractor’s spending plan and acquire a completely itemized range of work become done in the property.