Financing Guides
There is a lot of financing information online, but much of it is either too general or written in a way that makes something simple sound complicated.
These guides are designed to explain financing in plain English.
Some are written for business owners looking for equipment financing, working capital, or commercial financing.
Others are written for homeowners trying to understand reverse mortgages.
The goal is to give you enough information to understand how the financing works and what questions you should be asking.
Business Financing Guides
Equipment Financing Guide
This guide covers the basics of financing new and used equipment.
Topics include:
- How equipment financing works
- What lenders look at
- Credit requirements
- Down payments
- Used equipment
- Private-party purchases
- Startup financing
- Bad credit equipment financing
[Read the Equipment Financing Guide]
Bad Credit Equipment Financing Guide
A low credit score does not always mean the deal is impossible.
This guide explains some of the ways lenders may evaluate a difficult transaction, including:
- Business revenue
- Time in business
- Down payment
- Equipment value
- Additional collateral
- Overall cash flow
It also explains why one lender may decline a transaction while another may approve it.
[Read the Bad Credit Equipment Financing Guide]
Construction Equipment Financing Guide
Construction equipment can include:
- Excavators
- Bulldozers
- Skid steers
- Loaders
- Backhoes
- Dump trucks
- Cranes
- Other heavy equipment
This guide explains what lenders may look at when financing construction equipment and how credit, revenue, down payment, equipment age, and resale value can affect approval.
[Read the Construction Equipment Financing Guide]
Truck Financing Guide
Commercial truck financing can vary depending on the type of truck, age, mileage, use, and borrower.
This guide covers financing for:
- Semi trucks
- Tow trucks
- Dump trucks
- Box trucks
- Cargo vans
- Flatbed trucks
- Trailers
[Read the Truck Financing Guide]
Working Capital Guide
Working capital can be used for payroll, inventory, marketing, repairs, expansion, seasonal expenses, and other business needs.
This guide explains:
- Revenue-based financing
- Business lines of credit
- Working capital loans
- Sale-leasebacks
- Qualification factors
- Bad credit working capital options
[Read the Working Capital Guide]
MCA Consolidation Guide
Businesses with multiple merchant cash advances can quickly get into a difficult cash-flow situation.
This guide explains:
- How stacking happens
- Why multiple daily payments can become a problem
- How consolidation may work
- What lenders look at
- When consolidation makes sense
- When adding another advance may make things worse
[Read the MCA Consolidation Guide]
Commercial Financing Guide
Commercial financing can be very different from residential lending.
This guide covers:
- Commercial real estate purchases
- Refinances
- Bridge loans
- Investment properties
- Private money
- Hard money
- Business-purpose financing
[Read the Commercial Financing Guide]
Reverse Mortgage Guides
Reverse Mortgage Guide
This is a good place to start if you are just beginning to research reverse mortgages.
The guide explains:
- What a reverse mortgage is
- Who may qualify
- How much may be available
- What happens to an existing mortgage
- Homeowner responsibilities
- Costs
- Repayment
- What happens when the borrower dies
[Read the Reverse Mortgage Guide]
HECM Reverse Mortgage Guide
The Home Equity Conversion Mortgage is the FHA-insured reverse mortgage program.
This guide explains:
- HECM eligibility
- Age requirements
- Property requirements
- Financial assessment
- Counseling
- Available payment options
- Existing mortgage payoff
[Read the HECM Guide]
Reverse Mortgage Line of Credit Guide
A reverse mortgage line of credit works differently from a traditional HELOC.
This guide explains:
- How the line of credit works
- How funds may be accessed
- How unused funds are treated
- How it compares with a HELOC
- Situations where it may make sense
[Read the Reverse Mortgage Line of Credit Guide]
Jumbo Reverse Mortgage Guide
Homeowners with higher-value properties may have options outside of the traditional HECM program.
This guide explains:
- What proprietary reverse mortgages are
- Who may qualify
- Differences from HECM loans
- Property value considerations
- Age requirements
- Potential advantages and disadvantages
[Read the Jumbo Reverse Mortgage Guide]
Reverse Mortgage Purchase Guide
A reverse mortgage can be used to purchase a new primary residence.
This guide covers:
- How HECM for Purchase works
- Required borrower funds
- Eligible property types
- Why someone may use it
- Downsizing
- Relocating
- Moving closer to family
[Read the Reverse Mortgage Purchase Guide]
Reverse Mortgage and Heirs Guide
Many adult children have questions about what happens after a parent takes out a reverse mortgage.
This guide explains:
- What happens when the borrower dies
- Whether heirs can keep the home
- How the loan is repaid
- What happens if the home is sold
- What family members should know before the loan is taken out
[Read the Reverse Mortgage and Heirs Guide]
Reverse Mortgage vs HELOC Guide
These two products are very different.
This guide compares:
- Monthly payment requirements
- Qualification
- Access to funds
- Interest
- Home equity
- Loan maturity
- Who each option may be better suited for
[Read the Reverse Mortgage vs HELOC Guide]
Not Sure Which Guide to Read?
If you are trying to solve a specific financing problem, start with the guide that is closest to your situation.
If you are still not sure, contact me and tell me what you are trying to accomplish.
I can help point you in the right direction.
Call or text Shawn at (714) 271-8524 or email Info@TheBroker.Finance.