The mortgage calculator goes solo – NMP
The mortgage calculator, which announced in June that it was leaving its parent companies to become a correspondent lender, has hired more than 200 loan originators in the past 90 days, according to company officials.
“We have worked hard to become a lender. We started as a branch in a bank, then a branch in a brokerage, then a branch in a lender,” said Nicholas Hiersche, founder and president of the company. “We are very happy to finally have full control of our business.”
The Mortgage Calculator, which is based in Miami Lakes, Florida, offers short-term mortgages, investment property mortgages, rental property mortgages, hard money loans, among other options. By removing parent companies, The Mortgage Calculator is able to offer even lower rates to customers, officials said.
As experts in programs such as debt service coverage ratio (DSCR) loans, fixed and reversible loans, bank statement loans, profit and loss loans and other non-QM products , The Mortgage Calculator is one of the best outlets for investor loans, officials said.
Some of the most popular products are those that use Airbnb income for mortgage qualification and DSCR loans, which are mortgages without personal income verification. From the Residential Mortgage Payment Calculator to the Commercial Mortgage Calculator on its website, Mortgage Calculator provides information and data for investors looking to calculate their mortgages. The website also offers an FHA mortgage calculator and a Texas mortgage calculator, officials said.
Officials added that they expect the company to continue to grow in a climate where other companies are downsizing or closing.