• David Herrmann’s Success Story
  • David Herrmann’s Success Story

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.”

Situation:

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.

Solution:

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.

“While in the process of purchasing my condo, the mortgage broker I was using fell through on the financing and I had no choice but to pay all cash. I contacted South Bay Equity Lending and they were able to get 70% of my cash back through a cash-out delayed financing deal to convert the purchase into a mortgage. The process was quick and smooth, and Matt and Kyle were great to work with. I’d recommend them to anyone looking for home financing and want someone who will have their best interest in mind, as well as great customer service.” — David Herrmann

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