Family Loan Company Originated over $15M in June 2014
BOSTON, MA — (Marketwire — June 25, 2014) — National Family Mortgage, the leading U.S. platform for peer-to-peer mortgage loans, today announced that it has surpassed over $200M in total loans funded.
National Family Mortgage reached $100M in total loan volume in July 2013, after 34 months of business, and has doubled that total in less than one year with June 2014 loan originations exceeding $15M.
“It’s extremely rewarding to know how many families we have been able to help realize their dreams, from buying a home to refinancing a bank mortgage to financing a home improvement project,” said National Family Mortgage CEO Timothy Burke. “It’s equally rewarding to know how many families we have empowered to invest in loved ones while earning a solid financial return. We’ve helped keep over $90M in interest with U.S. families.”
Loans between family members can work and build wealth for everyone when managed properly.
How are families working with National Family Mortgage?
(1) To manage down payment loans
(2) To manage 100% home financing
(3) To refinance an existing bank mortgage
(4) To fund a home improvement project
(5) To buy a relative’s home
Advantages for Borrowers:
SAVE MONEY: Borrow from your family and get a better interest rate; low origination fees and tax deductible.
NO RED-TAPE: Minimal paperwork and easing qualifying process.
GET THE HOME YOU WANT: Show that your financing is secure. Compete with cash buyers.
Advantages for Lenders:
EARN MORE MONEY: Invest in your family and earn more interest than from CDs, bonds, and savings accounts. Earn a monthly cash stream.
FINANCIAL PROTECTION: Prevent gift taxes; registered mortgage lien also prevents legal and estate planning problems.
RELATIONSHIP PROTECTION: Proper documentation sets clear expectations and year-end tax forms protect relationships.
“We have accomplished a great deal in a relatively short period of time,” continued Burke. “I’m grateful for our dedicated and hardworking team. We truly believe that our unique, award winning service is helping families achieve their dreams. We look forward to announcing a new product line that will accelerate our positive impact.”
About National Family Mortgage
National Family Mortgage is an online peer-to-peer lending company committed to offering consumers alternatives to traditional and costlier forms of home financing. National Family Mortgage has developed a safe and easy way for families to structure real estate loans with their relatives – thereby helping people arrange affordable loans, while reducing tax issues, protecting relationships, and keeping money in the family. National Family Mortgage has originated over $200M in loan volume since inception, while keeping over $90M in interest within families.
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