Helping close deals traditional lenders won't close!
Insufficient Work History
Previous Late Payments
High Debt to Income Ratio
Many More Situations
A wraparound mortgage, or “wrap”, is a type of loan used frequently as a method of financing a property when a traditional mortgage cannot be obtained. We will purchase the home you choose and then resell it to you. We extend to you a mortgage (the junior lien) that covers our original mortgage (the senior lien) plus the fees associated with the “wrap”. You make payments to us as your lender and we in turn are responsible to make payments to our lender. Because wraparound mortgages are a form of seller financing, they can have lower barriers to entry than traditional financing methods.
A cash-out refinance is a refinancing of an existing mortgage loan, where the new mortgage loan is for a larger amount than the existing mortgage loan, and you (the borrower) get the difference between the two loans in cash. Basically, homeowners do cash-out refinances so they can turn some of the equity they’ve built up in their home into cash. Up to 80% of the value of a home can be converted to cash.
Casita Capital is a small independent direct lender that provides real estate financing within the State of Texas for individuals and businesses that are looking for alternative financing. Our clients are generally looking for specific financing terms or are not able to qualify for traditional financing. Because we are a smaller lender, we are able to be more flexible with our qualification criteria and can work with individuals that have had some credit issues in the past.
Our financing can help you overcome issues with your credit such as being self-employed, a bankruptcy, insufficient work history, a recent divorce, insufficient down payment, late payments, prior short sales or debt to income ratios that are too high for traditional financing. We can work with your specific issues to come up with a solution to get you into the home that you want!
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