Hard Money Loan Lender Atlanta
The Westmoore Group's investment approach is predicated upon the following three themes:
-- Principal Minded Investing
-- Borrower Affordability
-- Conservative Loan Structure
Principal Minded Investing
The Westmoore Group gives as a principal. As such, the business means to retain a meaningful equity state in all loans originated. All investments made by the company is going to be approved by its internal investment committee even though the Westmoore Group may rely on agents and intermediaries for its pipeline and all workers of the Westmoore Group will soon be compensated based on the efficiency of each transaction, not on volume. Furthermore, no investments will undoubtedly be approved based on fitting a carton or set guidelines. Every investment will require extensive evaluation, independent consideration and strict underwriting from Westmoore Group professionals.
Although aggressive and predatory lending were mainly accountable for creating the housing bubble, the U.S. consumer's penchant for "dreaming big" exacerbated the issue of easy money provided by Wall Street and the Government Sponsored Entities. The Westmoore Group WOn't provide Mortgage After Foreclosure Lenders Atlanta to any borrower that cannot afford it and will take a rigorous approach towards approving all borrower applications. Borrowers will generally need to demonstrate a Debt-to-Income ratio ("DTI") less than or equal to 35% based on a 30-year amortization schedule. Even though the company will not require a minimum FICO score, the 35% DTI standards is more stringent than most national loan plans as exhibited in the chart below.
Furthermore, all claimed income on the potential borrowers' application must be verifiable and documented and a borrower must have a clean balance sheet which is not loaded by excessive consumer debt. Last and most significant, a borrower must adopt the concept of purchasing a house within their means.
Conservative Loan Structure
The Westmoore Group mitigates risk by structuring 10-15 year amortization schedules into loans leading to fast de- leveraging. This helps the company, while helping the borrower save for her or his future by providing additional equity to pay down the loan every month.