The strategic side to alternative lending
For a real estate investor, moving quickly could mean securing the right property or completing renovations in time to refinance or sell. For a homeowner, short-term financing could bridge the timing gap between buying and selling, or provide the flexibility needed to transition to traditional financing.
Calvert Home Mortgage has built its approach around flexibility, creative problem-solving and strong mortgage broker partnerships, with teams working together to uncover opportunities within a deal, whether that means structuring a blanket mortgage, preserving an existing first mortgage or finding another way to make the numbers work for the client’s next step.
Structure can change the numbers too. A client with an attractive first mortgage may be better served by keeping it in place and adding a short-term second rather than refinancing the entire balance. Looking at the blended cost overall can give the mortgage broker and client a much more useful comparison than looking at the second mortgage rate on its own or at refinancing an entire mortgage.
“A good mortgage broker isn’t just finding their client a mortgage for today. They’re thinking about where that client needs to be six months, a year or two years from now,” says Jesse Bobrowski, VP of Growth at Calvert Home Mortgage. “Our role is to work alongside our partners, bring our lending experience to the conversation and help find a path that gets their client where they want to go.”
Putting alternative lending to work
As the real estate and mortgage markets become more challenging, straightforward deals may be harder to come by. For mortgage brokers, that makes the ability to solve more complex needs more valuable.
