Metro Fund, Inc. was established in 2014 by an experienced group of mortgage professionals in order to bring a wide array of mortgage products available to the public that aren't found at your local bank. While most banks are hand picking their top tier customers, Metro Fund, Inc. has a long list of lenders with programs available to those that have dents in their credit or survived a negative financial event in their recent history.
If you are a top tier borrower, you will get a top tier loan with Metro Fund Inc often cheaper and much faster than traditional banks. For those with blemishes on their credit or barriers to getting a traditional loan, Metro Fund Inc. is the right place for you. We offer traditional conventional, FHA and VA loans plus non-prime, non-QM loans.
If you are a top tier borrower, you will get a top tier loan with Metro Fund Inc often cheaper and much faster than traditional banks. For those with blemishes on their credit or barriers to getting a traditional loan, Metro Fund Inc. is the right place for you. We offer traditional conventional, FHA and VA loans plus non-prime, non-QM loans.
Services
Conventional loans usually offer the best rates and offer low down payment programs (3% down payment). All banks, mortgage lenders and brokers use these loans because they are the safest and most readily available. Guidelines for Fannie Mae and Freddie Mac are set by the government and intended to make lending easier for lenders to lend.
FHA and VA loans are also government loans. FHA offers a 3.5% down payment and VA offers 0% down payment. Guidelines are very similar to conventional loans but differ in that usually allow for the borrower to have a little more personal debt and they allow for a lower credit score. At Metro Fund, we have investors that lend in the low 500 credit scores.
One of the reasons for the real estate crash of the late 2000's was because of risky subprime loans. The original intention of these loans was for those who did not quite meet the conventional guidelines but were still deemed good borrowers. Lenders were willing to take the risk for higher rates and fees.
South Florida draws many international real estate buyers for either second homes or investment properties. Local Bank Programs - Metro Fund has a working relationship with many local banks that specialize in foreign national loans. Usually these are the best rates in town for foreigners but they do require opening up a banking relationship, pledge reserves at the bank and pass a rather rigorous underwriting process.
Otherwise known as "Hard Money" or the lender of last resort, private equity loans became a popular option these last few years. The rates are much higher and the cost of the loan can be very expensive but when an investor factors in the cost of the loan and the investment returns, it makes sense for them.
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