David Herrmann’s Success Story
SBEL is your solution when…you want to convert an “all cash” real estate purchase into a 30 year fixed mortgage through “delayed financing.”
David Herrmann was in the process of purchasing his first home, a condominium in the South Bay. Initially, he did not go to SBEL. The mortgage broker he engaged could not come through with the financing and David had to purchase his condo with all cash.
David reached out Matt Hadnett and Kyle Leach of South Bay Equity Lending. Through a mortgage program called “delayed financing,” David was able to convert his “all cash” purchase into a 30 year fixed mortgage. Essentially, David got 70% of his cash back and that amount was amortized over 30 years at a fixed interest rate. Delayed financing is a great tool as the real estate market heats up and an all cash offer gives the purchaser a competitive advantage.