Success Stories Archives - Insignia Mortgage

Q2 2023 Transaction Spotlights

Posted on July 13, 2023 by Admin

Throughout the second quarter of 2023, Insignia Mortgage has solidified California’s Jumbo Loan Experts. Our portfolio of jumbo loan successes this past quarter is a testament to our team’s dedication to surpassing client expectations.

Q2 2023 Transaction Spotlights

$9 Million, 75% LTV, 5.500% APR

The highly qualified borrower was seeking maximum leverage on a new home purchase. His financials were difficult to analyze due to the major expansion of his company over the last year, which affected net income. An additional challenge in closing the transaction was coordinating with a very nervous seller, who was quite worried as the two previous buyers could not obtain financials.

$2.2 Million, 80% LTV, 6.250% APR

Insignia Mortgage was approached by a client looking to close escrow on a property with 2 missing bathrooms. The borrower wanted to complete the remodel of the bathrooms himself. Insignia located a lender willing to close on the unfished property and allow the borrower to complete the remodel himself.

$4.6 Million, 43% LTV, 6.500% APR

The borrower approached Insignia Mortgage for an Owner Occupied Construction Loan after the purchase of a lot. The borrower recently sold his business and is being paid a salary over the next few years by the company. Insignia Mortgage was able to locate a lender that was able to use the client’s balance sheet and income to qualify for the Owner Occupied Construction Loan.

$980K, 43% LTV, 8.500% APR

The borrower required a DSCR loan after being turned down for a bank statement loan on the property. Funds were going to pay off another debt. Insignia Mortgage was able to locate a max LTV lender who was also OK with vesting the property in an LLC and providing cash out.

$3.05 Million, 80% LTV, 8.475% APR

The borrower was looking for maximum leverage on a new home purchase using his business bank statements. Insignia Mortgage located a lender that provided 80% financing and LLC vesting with a closing in under 20 days

$1 Million, 68% LTV, 6.250% APR

Insignia Mortgage canvased the lending marketplace for a sharp pencil 30-year fixed-rate loan for this very qualified borrower. Our hard work paid off as we were able to locate the best-priced option and won the deal for our client.

$2.1 Million, 50% LTV, 8.500% APR

The borrower was looking for a loan program that would not verify income, as she was self-employed and she earned income both domestically and abroad. Given the complexity of her financials, it was decided to utilize a no-income or employment verification loan program.

$1.62 Million, 80% LTV, 5.875% APR

The borrower just moved from New York to California. After renting for a month, he found a condo in Marina Del Rey he wanted to purchase. Insignia Mortgage was able to locate a lender with below-market rates to quickly close the loan with no origination costs.

FOUR INSIGNIA BROKERS RANK WITHIN SCOTSMAN GUIDE’S TOP 25 ORIGINATORS IN COUNTRY

Posted on April 10, 2023 by Admin

Insignia Mortgage is thrilled to announce that 4 of our brokers have been ranked in the Scotsman Guide’s Top 25 Originators for 2023! In fact, co-founders, Damon Germanides and Chris Furie were ranked as #4 and #7 respectively, making 2023 their 7^th year to rank within Scotsman’s Top 10. Following suit in recognition by Scotsman are team members Romy Nourafchan and Neil Patel, who were featured on this year’s Top 25 at #20 and #24. In addition to this achievement, Chris, Damon, Romy, and Neil have the largest loans by size in the rankings. The total loan volume for the company in 2021 alone was close to $1 billion and over $850 million in 2022.

“We are honored to be included in this exclusive list of top mortgage brokers. Our ranking proves the value mortgage brokers serve even to higher-end borrowers as we help clients navigate the complexities of the mortgage loan process.”
Damon Germanides, Insignia Mortgage co-founder, in response to the 2023 Top Originator List release.

The Insignia team attributes their consistent standing on the annual Scotsman Top Mortgage Brokers List to their dedication to providing individualized lending solutions. They have unique expertise in successfully placing niche jumbo loans with local banks and credit unions.

Insignia has focused on this jumbo niche area of the market for over a decade. Damon and Chris saw a need in the marketplace to locate lenders willing to fund multi-million-dollar loans for self-employed borrowers, foreign nationals, real estate investors, and retirees. As a result, their team has helped create customized loan programs with their lending sources to meet this need. They have also created industry resources like their Insignia Mortgage App to help improve the loan process for everyone involved. Their commitment to innovation continues to elevate the jumbo loan experience for clients and brokers.

2023 marks the 7th year in a row that Insignia’s team has had the honor of ranking within the Top 50 on this list. View the full Top Mortgage Brokers List under The Scotsman Guide’s Top Originators 2023 here.

Cash-out Refinance Little Holmby To Pay-off IRS Tax Lien

Posted on October 29, 2019 by Damon Germanides

Home Value: $5.2 MM
LTV: 70% LTV
Loan: 1st TD of $3.64 M
Terms: 5/1 ARM 5.25%
Challenge: The borrower was looking for a common-sense loan program to pay-off an IRS tax lien and replenish cash reserves. Due to inconsistent cash flow, Insignia Mortgage located a lender willing to offer competitive terms on a large cash-out refi. Closed in under 35 days.

Purchase Beverly Hills Big Bank Turn Down

Posted on October 29, 2019 by Damon Germanides

Purchase Price: $6.375 MM
LTV: 70% LTV / 80% CLTV
Loan: 1st TD of $4.46 MM/ LOC of $500,000
Terms: 5/1 ARM 3.625% / Business Line of Credit 6.50%
Challenge: The borrower was earning a large income as a newly minted physician in private practice and had been turned down by a big money center bank. The borrower was looking for a solution that required a lender to be comfortable with a large jump in provable income, with only a 20% down payment on a $6 MM+ purchase.

Beach House With Cross-Collateralization

Posted on October 29, 2019 by Damon Germanides

Purchase Price: $7.5 MM
LTV: 10% Down Payment Cross-Collateralized Loan
Loan: $6.75 MM
Terms: 1st TD 5/1 ARM IO @4.00%
Challenge: The borrowers required a quick closing and needed a cross-collateralization loan to help with down-payment. Insignia Mortgage was able to locate worked with a lender comfortable with offering financing even with a limited cash-down payment, as well as the borrowers’ complex entity ownership structure. The loan closed in 30 days.

$4MM 12-Month Bank Statement Cash-Out Refinance To Pay Off IRS

Posted on October 29, 2019 by Damon Germanides

Valuation: $5.7MM
LTV: 70%, $4MM
Terms: 1st 5/1 ARM @ 4.50%
Challenge: The borrower was encumbered by the IRS and wanted to take cash out of his primary residence to pay-off the IRS tax lien. The borrower required a bank statement program due to his tax returns not being filed for the current tax year. Insignia Mortgage was able to get the lender comfortable with the borrower’s business cash flow through an in-depth analysis of the business bank statements. The IRS was paid in full through the loan proceeds.

$5.1 MM All Cash-Out For Investment in Private Placement

Posted on October 29, 2019 by Damon Germanides

Valuation: $12 MM
LTV: 41.66%
Loan: $5.1 MM
Terms: 1st 5/1 ARM @3.25%
Challenge: The borrowers needed cash-out quickly to participate in a private placement in public equity. The borrowers only had 3 weeks to come up with the funds to close on the investment. Insignia Mortgage was able to work with the borrower and their CPA to structure this complex refinance and quickly obtain loan approval. The property was owned in two separate irrevocable trusts which added an additional layer of complexity to the transaction. The lender agreed to move forward after reviewing the file with their legal team and also to close the loan within 14 days and approved $5 million in cash-out proceeds.

High Leverage Bridge Loan Success Story

Posted on April 6, 2016 by Damon Germanides

We recently closed on a $4.50 million spec purchase with 80% lender financing in the Hollywood Hills. Insignia Mortgage found a hedge fund in New York to provide construction financing with no-income verification for the purchase, which was a teardown with a planned high-end redevelopment. The home and the current owner were in litigation with a neighbor. Further completing the deal, part of the home had been torn down, and the bedroom and kitchen walls had been demolished.

Loan Terms

- $3.6 million dollar construction loan
- 12-month term
- 9.99% APR, plus 2.5% points
- Interest Only, interest paid only when money drawn
- No prepayment penalty
- 17 day close of escrow

Learn more

Construction Loan Success Story

Posted on April 6, 2016 by Damon Germanides

Insignia Mortgage recently closed on a $11 million spec construction loan in Bel Air, CA with 50% lender loan-to-cost financing. We located a local bank willing to provide construction financing, despite our client’s limited US income. This non-recourse loan was cross-collateralized against the subject property, as well as two other income-producing homes.

Loan Terms

$11 million dollar construction loan
2-year term
7.000% APR
Interest Only – interest paid only when money drawn
No prepayment penalty
21-day close of escrow

Learn more

Interest-Only Loan Success Story

Posted on April 6, 2016 by Damon Germanides

We helped a two-income family purchase $1 million primary residence purchase with a loan of 80% of the purchase price. The family was looking for a very competitive 30-year fixed rate mortgage interest rate and needed to close in under 30 days.

Loan Terms