Loormax Lending was born because of all the changes that had taken place after the economic downfall of 2008. In 2010. The  Obama Administration created the Dodd Frank Act that limits the amount of money any one consumer can borrow. The Act is  based on very  strict debt to income ratios. This relates to how much yearly gross income a borrower earns, divided by the new principal, interest, taxes and insurance together with all of their personal monthly payment debts to qualify for a mortgage loan by not exceeding the mandatory income ratio. The outcome of the implementation of the Dodd Frank Act eliminated a very large portion of potential borrowers in an effort to qualify for a home mortgage loan therefore causing a further downturn in the housing market. In and around 2012 the mortgage industry began creating what is referred to as Non Qualified Mortgages in an effort to fund borrowers that were being denied as non qualified borrowers due to the Dodd Frank Acts rules and regulations. In 2017 President Donald Trump signed a bill rolling back certain regulations into law which put back community banks in the mortgage lending business and opened up an opportunity to provide mortgage money to a larger portion of the American consumers, This new bill created positive results providing the mortgage industry to  create and implement new and focused mortgage products designed to provide a specific solution for each borrower's personal financial needs.  Therefore, providing the ability for all consumers to purchase and refinance primary residence, second homes and investment properties.

 

The owners of Loormax Lending, two Marines that have been partners for over 30 years today and have over 80 years of collective real estate and mortgage experience, realizing what was taking place, the two partners seized the moment and decided to create the best A to Z mortgage company in the country today.  That means that they will provide their borrowers with every mortgage option available so that any person interested in borrowing money for any type of real estate purchase or refinance has a very good chance of receiving a YES, You Are Approved !

 

Today Loormax Lending offers an array of mortgage products to choose from. Conv, FHA,VA,USDA, First Time Home Buyer Loans, Zero Down Payment Loans, Jumbo and Super Jumbo Loans, Self Employed No Tax Return Required Loans, No Income and No Ratio Loans, Banked Statement Loans, Asset Based Lending, Investment Property Debt Service Loans, No Tax Returns required, Fix & Flip. Fix & Hold, Bridge Loans, Blanket Loans, New Construction, Construction to Permanent, Low Credit Score Loans, Reverse Mortgages, Luxury Loans, Privacy Mortgages, True Foreign National Buyers, Commercial Loans, Apartment Complexes, Office Bldg, Shopping Centers, Mini Storage Warehouses, Mobile Home Parks , Residential and Commercial Subdivision Loans and Hard Money Lending as well.

 

So, to make the mortgage application and pre approval process very user friendly and as easy as possible, we have built an online application pre approval system that once the borrower applies online we will deliver a pre approval within 24 hours or less!

 

Go to the Apply Now Button to get prequalified for the maximum amount of mortgage you can qualify for that offers the best rate and terms for your personal financial situation!

 

What is most important to us here at Loormax is YOU !  

 

We pride ourselves in helping our clients SUCCEED !