TAILORED TO YOUR NEEDS
Our Services
Conventional FNMA/FHLMC
FHA and FHA 203k
VA
HELOCs
Reverse Mortgages
Conforming and Jumbo Loan Amounts
Fixed and Adjustable Rates
Purchase/Rate and Term/Cash Out
Owner Occupied/Second Home/Investor
1-4 Unit Family Properties
FHA and FHA 203k
VA
HELOCs
Reverse Mortgages
Conforming and Jumbo Loan Amounts
Fixed and Adjustable Rates
Purchase/Rate and Term/Cash Out
Owner Occupied/Second Home/Investor
1-4 Unit Family Properties
Metropolitan Funding Group is the place our clients come when everyone else has told them “No”. We provide hard money loans designed to help you make money – even with limited personal funds.
As an advisor, Metropolitan Funding Group works for YOU, not the bank. Through our consulting service, Metropolitan will tailor your financial package specific to your needs and a bank's requirements. We will provide you with the greatest opportunity for obtaining the most favorable terms.
process
Our Funding Process
Submit Online Form
Fill out our preliminary form that provides us with necessary information to consider your deal.
Consultation
We will discuss your deal in detail, providing options towards achieving your funding objectives.
Underwriting
Our team will underwrite the deal, confirming information and accessing risk.
Funding
We will provide you with finalized contracts and will fund your project after signing.
NEED FUNDING?
Preliminary Form
Please fill out the following form that will provide us with necessary information to consider your deal.
FAQ
Please see the following answers to our most common questions.
There are many programs which allow for minimal down payment. Conventional loans require as little as 3% down, FHA loans require 3.5% down (which may all be a gift), VA loans require no down payment (you must be an active member or veteran of the United States armed forces).
PMI stands for Private Mortgage Insurance. Most conventional loans which have a Loan To Value (LTV) ratio of greater than 80% require some form of Mortgage Insurance. Mortgage Insurance may be paid monthly throughout the term of the loan, Lender Paid (rolled into the interest rate), or paid as a one-time up-front fee. After a minimum of 5 years, the lender may be requested to remove the Mortgage Insurance. Either an appraisal will need to be done, or the loan must be paid to less than 80% of the original amount for the lender to consider removing Mortgage Insurance from the loan. In addition, the borrower must have a good on-time payment history. FHA requires two types of Mortgage Insurance, an up-front Mortgage Insurance Premium (MIP) paid at the time of settlement, as well as a monthly premium paid throughout the term of the loan. FHA Mortgage Insurance may not be removed until the loan is paid in full, either through sale of the house, refinance, or paying off the principal. VA loans do not have a monthly Mortgage Insurance Payment. However, VA loans do have an up-front fee called the VA Funding Fee. This fee will be waived for any veteran with a 30% or greater approved disability.
VA Loans and FHA loans are the two primary federal government financing programs. VA loans are a guarantee from the federal government that the U.S. Department of Veterans Affairs will pay a lender in the event the borrower defaults. These loans are only available to current members of the military and veterans with honorable discharge. FHA loans are a guarantee that the Federal Housing Authority will pay the lender in the event the borrower defaults. Everyone is eligible for an FHA loan, but may only have 1 FHA loan at a time under most circumstances.
A fixed rate mortgage is an interest rate that remains the same during the life of the loan. An adjustable rate mortgage is an interest rate that increases or decreases during the term of the loan.
Closing costs are fees needed to complete a real estate transaction. The cost is usually estimated at 4.5% of the sales price.
Expenses include: application fees, credit report, survey fee, flood certification fee, title search fee, title insurance, attorney costs, recording and transfer costs, loan preparation fees, escrow accounts, and more.
We do not have a prepayment penalty. You have option to pay off your loans in part or in full at any time.
There are no limitations on the amount of deals we can work on with you.
We will consider extensions on a case by case basis, but we are under no obligation to extend your term.
You may get started by filling out the preliminary form on our contact us page. You may also email us at kenbrown@metrofundinggroup.com.
