We're dedicated to providing comprehensive Real Estate Analysis & Mortgage Loan Advisory services.



Please provide the following details and a Lending Officer will contact you regarding your request.

About Jake J. Coburn
Mortgage Loan Advisors with the commitment to helping clients maximize their budget.

Providing Comprehensive Real Estate Loan Advisory for both Residential & Commercial Property Types.

hero cta
Hero CTA
Services Provided
Mortgage Loan Advisors who will help you finance your dream home!

With our mortgage industry expertise, we'll help you find the perfect mortgage solution to buy the property that's right for you.

  • Checking the results EveryPixel com
    Mortgage solutions

    Whether you're looking to invest in a fix-and-flip project or you're looking to purchase rental property. We're expert loan advisors who will find you quality financial solutions fast.

  • <strong><span style="color:rgba(17, 17, 17, 1)">Purchase</span></strong>

    The process of buying real estate doesn't need to be overly confusing. Let us remove much of the stress from this process by analyzing your purchase needs, reviewing your financials and securing an agreement that matches your goals.

  • <strong><span style="color:rgba(17, 17, 17, 1)">Refinance</span></strong>

    When you need to free up funds, or get access to the equity in your real estate asset, refinancing real estate is one of the easiest ways to do so. We'll make sure that you understand the process, fee's associated, all of the terms, to make sure that it's appropriate for your financial future.

Loan Resources
Speak with a Mortgage Loan Advisor Today.

There are various financing options available for real estate, some are only allowed for primary residence. With the proper education and guidance, you will have the ability to decide which option is right for you.

Here are some financing options you could explore:

  • FHA Loans Up to $331,760 *Loan limit varies by County.
    The United States Capitol Rotunda

    An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). Designed for low-to-moderate-income borrowers, FHA loans require a lower minimum down payments and credit scores than many conventional loans.

    As of 2019, you can borrow up to 96.5% of the value of a home with an FHA loan (meaning you'll need to make a down payment of only 3.5%). You'll need a credit score of at least 580 to qualify. If your credit score falls between 500 and 579, you can still get an FHA loan provided you can make a 10% down payment. With FHA loans, your down payment can come from savings, a financial gift from a family member or a grant for down-payment assistance.

    All these factors make FHA loans popular with first-time homebuyers.


    • FHA loans are federally backed mortgages designed for low-to-moderate-income borrowers who may have lower than average credit scores.
    • FHA loans require a lower minimum down payments and credit scores than many conventional loans.
    • FHA loans are issued by approved banks and lending institutions, who will evaluate your qualifications for the loan.
    • These loans do come with certain restrictions and loan limits not found in conventional mortgages.


    Updated Feb 3, 2020


  • Conventional Loan Loan size up to $510,400
    <strong>Conventional Loan</strong>

    A conventional mortgage or conventional loan is any type of home buyer’s loan that is not offered or secured by a government entity. Instead, conventional mortgages are available through private lenders, such as banks, credit unions, and mortgage companies. However, some conventional mortgages can be guaranteed by two government-sponsored enterprises; the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).


    • A conventional mortgage or conventional loan is a home buyer’s loan that is not offered or secured by a government entity.
    • It is available through or guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac.
    • Potential borrowers need to complete an official mortgage application, supply required documents, credit history, and current credit score.
    • Conventional loan interest rates tend to be higher than those of government-backed mortgages, such as FHA loans


    Updated Feb 15, 2020


  • VA Loans Loan size up to $510,400 for most U.S Counties
    Every day at sunset, the Fort Sumter flag is lowered and folded by park visitors.

    The Veterans Administration offers a home loan guaranty benefit and other housing-related programs to help qualified veterans or their eligible surviving spouses buy, build, repair, retain or adapt a home for personal occupancy. VA loans offer up to 100% financing on the value of a home. VA loan recipients do not have to be first-time home buyers. Also, they may reuse the benefits and assign the loan to another qualifying person.


    • No down payment is mandated unless required by the lender, or if the purchase price is above the established property value.
    • There is no private mortgage insurance premium requirement.
    • Closing costs are limited and may be paid by the seller.
    • The lender may not charge a prepayment penalty.
    • Assistance is available from the VA to help borrowers avoid default.
    • Many states offer additional benefits to veterans, such as property tax reductions.


    Updated Aug 7, 2019


  • Jumbo Loans Loan size above $510,400
    Dream Home

    If you have your sights set on a home that costs close to half a million dollars or more— and you don't have that much sitting in a bank account—you're probably going to need a jumbo mortgage. And if you’re trying to land one, you’ll face much more rigorous credit requirements than homeowners applying for a conventional loan. That’s because jumbo loans carry more credit risk for the lender since there is no guarantee by Fannie Mae or Freddie Mac. There's also more risk because more money is involved.

    Just like traditional mortgages, minimum requirements for a jumbo have become increasingly stringent since 2008. To get approved, you’ll need a stellar credit score—700 or above—and a very low debt-to-income (DTI) ratio. The DTI should be under 43% and preferably closer to 36%. Although they are nonconforming mortgages, jumbos still must fall within the guidelines of what the Consumer Financial Protection Bureau considers a “qualified mortgage”—a lending system with standardized terms and rules, such as the 43% DTI.

    You’ll need to prove you have accessible cash on hand to cover your payments, which are likely to be very high if you opt for a standard 30-year fixed-rate mortgage. Specific income levels and reserves depend on the size of the overall loan, but all borrowers need 30 days of pay stubs and W2 tax forms stretching back two years. If you're self-employed, the income requirements are greater: Two years of tax returns and at least 60 days of current bank statements. The borrower also needs provable liquid assets to qualify and cash reserves equal to six months of the mortgage payments. And all applicants have to show proper documentation on all other loans held and proof of ownership of non-liquid assets (like other real estate).


    • A jumbo loan is a type of financing that exceeds the limits set by the Federal Housing Finance Agency and cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
    • Homeowners must undergo more rigorous credit requirements than those applying for a conventional loan.
    • Approval requires a stellar credit score and a very low debt-to-income ratio.
    • The average APR for a jumbo mortgage is often par with conventional mortgages, while down payments are roughly 10% to 15% of the total purchase price.


    Updated Jul 29, 2019


  • Private/Hard Money $100,000 - $3,000,000
    <strong>Private/Hard Money</strong>

    A private/hard money loan is a type of loan that is secured by real property. Hard money loans are considered loans of "last resort" or short-term bridge loans. These loans are primarily used in real estate transactions, with the lender generally being individuals or companies and not banks.


    • Hard money loans are primarily utilized for real estate transactions and are money from an individual or company and not a bank.
    • A hard money loan, usually taken out for a short time, is a way to raise money quickly, but at a higher cost and lower LTV ratio.
    • Because hard money loans are not traditionally executed, the funding time frame is reduced immensely.
    • Terms of hard money loans can often be negotiated between the lender and the borrower. These loans typically use the property as collateral.
    • Repayment can lead to default and still result in a profitable transaction for the lender.


    Updated Jan 30, 2020


  • Commercial Loans $100,000 - $10,000,000
    <strong>Commercial Loans</strong>

    Commercial real estate (CRE) is income-producing property used solely for business (rather than residential) purposes. Examples include retail malls, shopping centers, office buildings and complexes, and hotels. Financing – including the acquisition, development and construction of these properties – is typically accomplished through commercial real estate loans: mortgages secured by liens on the commercial property.

    Just as with home mortgages, banks and independent lenders are actively involved in making loans on commercial real estate. Also, insurance companies, pension funds, private investors and other sources, including the U.S. Small Business Administration’s 504 Loan program, provide capital for commercial real estate.

    Here, we take a look at commercial real estate loans, how they differ from residential loans, their characteristics and what lenders look for.

    Individuals vs. Entities

    While residential mortgages are typically made to individual borrowers, commercial real estate loans are often made to business entities (e.g., corporations, developers, limited partnerships, funds and trusts). These entities are often formed for the specific purpose of owning commercial real estate.

    An entity may not have a financial track record or any credit rating, in which case the lender may require the principals or owners of the entity to guarantee the loan. This provides the lender with an individual (or group of individuals) with a credit history – and from whom they can recover in the event of loan default. If this type of guaranty is not required by the lender, and the property is the only means of recovery in the event of loan default, the debt is called a non-recourse loan, meaning that the lender has no recourse against anyone or anything other than the property.

    Loan Repayment Schedules

    A residential mortgage is a type of amortized loan in which the debt is repaid in regular installments over a period of time. The most popular residential mortgage product is the 30-year fixed-rate mortgage, but residential buyers have other options, as well, including 25-year and 15-year mortgages. Longer amortization periods typically involve smaller monthly payments and higher total interest costs over the life of the loan, while shorter amortization periods generally entail larger monthly payments and lower total interest costs.

    Residential loans are amortized over the life of the loan so that the loan is fully repaid at the end of the loan term. A borrower with a $200,000 30-year fixed-rate mortgage at 5%, for example, would make 360 monthly payments of $1,073.64, after which the loan would be fully repaid.

    Unlike residential loans, the terms of commercial loans typically range from five years (or less) to 20 years, and the amortization period is often longer than the term of the loan. A lender, for example, might make a commercial loan for a term of seven years with an amortization period of 30 years. In this situation, the investor would make payments for seven years of an amount based on the loan being paid off over 30 years, followed by one final “balloon” payment of the entire remaining balance on the loan.

    For example, an investor with a $1 million commercial loan at 7% would make monthly payments of $6,653.02 for seven years, followed by a final balloon payment of $918,127.64 that would pay off the loan in full.

    The length of the loan term and the amortization period affect the rate the lender charges. Depending on the investor’s credit strength, these terms may be negotiable. In general, the longer the loan repayment schedule, the higher the interest rate.

    Loan-to-Value Ratios

    Another way that commercial and residential loans differ is in the loan-to-value ratio (LTV), a figure that measures the value of a loan against the value of the property. A lender calculates LTV by dividing the amount of the loan by the lesser of the property’s appraised value or its purchase price. For example, the LTV for a $90,000 loan on a $100,000 property would be 90% ($90,000 ÷ $100,000 = 0.9, or 90%).

    For both commercial and residential loans, borrowers with lower LTVs will qualify for more favorable financing rates than those with higher LTVs. The reason: They have more equity (or stake) in the property, which equals less risk in the eyes of the lender.

    High LTVs are allowed for certain residential mortgages: Up to 100% LTV is allowed for VA and USDA loans; up to 96.5% for FHA loans (loans that are insured by the Federal Housing Administration); and up to 95% for conventional loans (those guaranteed by Fannie Mae or Freddie Mac).

    Commercial loan LTVs, in contrast, generally fall into the 65% to 80% range. While some loans may be made at higher LTVs, they are less common. The specific LTV often depends on the loan category. For example, a maximum LTV of 65% may be allowed for raw land, while an LTV of up to 80% might be acceptable for a multifamily construction.

    There are no VA or FHA programs in commercial lending, and no private mortgage insurance. Therefore, lenders have no insurance to cover borrower default and must rely on the real property pledged as security.

    Note: Private mortgage insurance (PMI) is a type of insurance policy that protects lenders from the risk of default and foreclosure, allowing buyers who are unable to make a significant down payment (or choose to not to) to obtain mortgage financing at affordable rates. If a borrower purchases a residential property and puts down less than 20%, the lender will minimize its risk by requiring the borrower to buy insurance from a PMI company.

    Debt-Service Coverage Ratio

    Commercial lenders also look at the debt-service coverage ratio (DSCR), which compares a property’s annual net operating income (NOI) to its annual mortgage debt service (including principal and interest), measuring the property’s ability to service its debt. It is calculated by dividing the NOI by the annual debt service.

    For example, a property with $140,000 in NOI and $100,000 in annual mortgage debt service would have a DSCR of 1.4 ($140,000 ÷ $100,000 = 1.4). The ratio helps lenders determine the maximum loan size based on the cash flow generated by the property.

    A DSCR of less than 1 indicates a negative cash flow. For example, a DSCR of .92 means that there is only enough NOI to cover 92% of annual debt service. In general, commercial lenders look for DSCRs of at least 1.25 to ensure adequate cash flow.

    A lower DSCR may be acceptable for loans with shorter amortization periods and/or properties with stable cash flows. Higher ratios may be required for properties with volatile cash flows – for example, hotels, which lack the long-term (and therefore, more predictable) tenant leases common to other types of commercial real estate.

    Interest Rates and Fees

    Interest rates on commercial loans are generally higher than on residential loans. Also, commercial real estate loans usually involve fees that add to the overall cost of the loan, including appraisal, legal, loan application, loan origination and/or survey fees.

    Some costs must be paid up front before the loan is approved (or rejected), while others apply annually. For example, a loan may have a one-time loan origination fee of 1%, due at the time of closing, and an annual fee of one-quarter of one percent (0.25%) until the loan is fully paid. A $1 million loan, for example, might require a 1% loan origination fee equal to $10,000 to be paid up front, with a 0.25% fee of $2,500 paid annually (in addition to interest).


    A commercial real estate loan may have restrictions on prepayment, designed to preserve the lender’s anticipated yield on a loan. If the investors settle the debt before the loan’s maturity date, they will likely have to pay prepayment penalties. There are four primary types of “exit” penalties for paying off a loan early:

    • Prepayment Penalty. This is the most basic prepayment penalty, calculated by multiplying the current outstanding balance by a specified prepayment penalty.
    • Interest Guarantee. The lender is entitled to a specified amount of interest, even if the loan is paid off early. For example, a loan may have a 10% interest rate guaranteed for 60 months, with a 5% exit fee after that.
    • Lockout. The borrower cannot pay off the loan before a specified period, such as a 5-year lockout.
    • Defeasance. A substitution of collateral. Instead of paying cash to the lender, the borrower exchanges new collateral (usually U.S. Treasury securities) for the original loan collateral. This can reduce fees, but high penalties can be attached to this method of paying off a loan.

    Prepayment terms are identified in the loan documents and can be negotiated along with other loan terms in commercial real estate loans.

    The Bottom Line

    With commercial real estate, an investor (often a business entity) purchases the property, leases out space and collects rent from the businesses that operate within the property. The investment is intended to be an income-producing property.

    When evaluating commercial real estate loans, lenders consider the loan’s collateral, the creditworthiness of the entity (or principals/owners), including three to five years of financial statements and income tax returns, and financial ratios, such as the loan-to-value ratio and the debt-service coverage ratio.


    Updated Jun 25, 2019


What our clients say
What some recent clients say about their experience with ELITE FUNDING NETWORK

Our clients' success is our purpose. That's why we're thrilled when they enjoy the ELITE FUNDING NETWORK experience.

<strong>Edgar M.</strong>

I was really impressed with the way Jake handled everything. From the first conversation to everything in between, he was very helpful and knowledgable. Now I'm working with one of Jake's preferred agents on finding an investment property to generate some cashflow.

Edgar M.
<strong>Craig M.</strong>

Working with Jake and Elite Funding Network was a great experience for me and my wife. We were thinking about renting and instead ended up qualifying for our own home. He was great working with and very professional.

Craig M.
a0b2 kaci baum

I had no idea that the purchase process could be that easy. I've heard horror stories from friends of mine who recently purchased their homes and that's why I was hesitant...I can't recommend Jake enough!!

Daniela W.

Let's connect
Stay up to date with the latest from Elite Funding Network

We love connecting with clients on social media. Follow us, tweet at us, tag us — we want to hear from you!