Jim Binion NMLS 71527

Jim Binion NMLS 71527 Providing Mortgage loans for Residential, Commercial and Investment properties in NC, SC, Ohio, Florida, Georgia & Tennessee

Check this priced right home out
09/22/2026

Check this priced right home out

Home buyers and realtors. Pay attention to this. Rates are higher right now and some people are holding off on buying a ...
09/19/2026

Home buyers and realtors. Pay attention to this. Rates are higher right now and some people are holding off on buying a house. Well as you know the longer you wait the more expensive homes get. So do yourself a favor and educate yourself on the Arm products. My favorite is the 5 year ARM. Which I personally have. It gives you a chance to get in a home now at a lower rate. The idea is before the five years are up you refinance into a lower rate on a fixed mortgage once the market settles down. The reason I like 5 years is because it gives you time to build equity and income. This week I locked two separate clients into a five year arm on purchases. One is at 5.25% and the other at 5.625% while the 30 year fixed conventional loans are about 7% and the FHA & VA are running in the low 6’s. So if you want to learn more about how these work give me a call

It isn't necessarily about having perfect finances.A strong application generally gives a lender a clear picture of:✔ In...
09/18/2026

It isn't necessarily about having perfect finances.

A strong application generally gives a lender a clear picture of:

✔ Income
✔ Employment
✔ Credit history
✔ Existing debts
✔ Assets and available funds
✔ Ability to make the required payments

The goal isn't to make your finances look perfect.

It's to make sure your financial picture is accurate, documented, and understandable.

Myth: You need a flawless personal credit score to qualify for any commercial mortgage.Fact: While personal credit histo...
09/16/2026

Myth: You need a flawless personal credit score to qualify for any commercial mortgage.

Fact: While personal credit history is reviewed, commercial lending is primarily 'asset-based.' Lenders focus more heavily on the property’s cash flow, the debt service coverage ratio (DSCR), and the overall strength of the collateral rather than relying solely on your personal score.

With everyone freaking out about mortgage rates I thought I would throw out some info about how an ARM. Works. Much lowe...
09/16/2026

With everyone freaking out about mortgage rates I thought I would throw out some info about how an ARM. Works. Much lower rate than the current 30 year fixed rates. So here is an idea of they work. It’s a great option to get you in a home now instead of waiting for the home to cost you more later.

5/1 adjustable-rate mortgage (ARM) is a home loan that starts with a low, fixed interest rate for the first five years, then changes once a year based on market conditions. The numbers in the name explain the schedule:The 5: Your interest rate and monthly payment stay completely the same for the first 5 years. This introductory rate is usually lower than a standard 30-year fixed loan.The 1: After year five, your rate adjusts once a year (1 time every 12 months) for the rest of the 30-year loan. How the Adjustment Works when year six begins, your new interest rate is calculated using two things: A financial benchmark that reflects overall market interest rates.The Margin: A set percentage added by your lender that stays the same for the entire life of the loan. )Your new interest rate = Index + Margin. If market rates go up, your monthly payment goes up. If market rates go down, your payment goes down. /5-1-arm-rates/)Protection: Rate CapsTo keep payments from jumping to extreme amounts, 5/1 ARMs use rate caps: 5-1-ARM)Initial cap: Limits how much the rate can rise the very first time it changes after year five.Periodic cap: Limits how much the rate can change up or down during any single adjustment year.Lifetime cap: Limits how high your interest rate can ever go above your starting rate over the full life of the loan. Who is a 5/1 ARM good for? Short-term homeowners: People who plan to sell the house or refinance into a fixed-rate loan before the five years end.Income growth: Borrowers who expect their income to grow enough to handle a higher payment if market rates rise later. If you'd like, tell me: How long you plan to stay in the homeWhether you are comparing this to a standard fixed-rate loanI can help you figure out if an ARM makes sense for your budget. I used a 5 year arm as an example but there are 2yr, 3 yr, 5 year, 7 year and even 10 year arms depending on what makes more sense to you.

If you want more information just call me or message me

A common question we hear is: 'How quickly can we get to the closing table?'Unlike conventional loans that can take 30 t...
09/14/2026

A common question we hear is: 'How quickly can we get to the closing table?'

Unlike conventional loans that can take 30 to 45 days, private capital or hard money loans are designed for speed. When the property appraisal and legal documentation are streamlined, funding can happen in as little as 7 to 10 business days.

Preparation—like having your project scope and proof of funds ready—is the best way to keep that timeline on track.

When you’re looking at commercial financing, you’ll hear the term 'Debt Yield' quite often. Unlike traditional residenti...
09/11/2026

When you’re looking at commercial financing, you’ll hear the term 'Debt Yield' quite often. Unlike traditional residential metrics, this figure helps lenders determine how much cash flow is available to cover the debt if the property were to default.

It’s calculated by taking the net operating income and dividing it by the total loan amount. Keep this simple ratio in mind when preparing your financial documentation, as it’s often a primary filter for credit approval.

Mortgage rates don't simply change because a lender decides to charge more.They can be influenced by broader financial m...
09/09/2026

Mortgage rates don't simply change because a lender decides to charge more.

They can be influenced by broader financial markets, including inflation expectations, economic data, Treasury yields, and investor demand for mortgage-backed securities.

That's why the rate you see today may not be the same rate available tomorrow.

📈 The mortgage market is constantly moving.

Happy Labor Day! 🎉A little reminder today to celebrate how far hard work can take you. Wishing you a relaxing Labor Day ...
09/07/2026

Happy Labor Day! 🎉

A little reminder today to celebrate how far hard work can take you. Wishing you a relaxing Labor Day filled with good moments, great company, and plenty of time to recharge! ❤️

Precision is the foundation of a successful flip. Before we move toward closing, our process mandates a deep dive into t...
09/04/2026

Precision is the foundation of a successful flip. Before we move toward closing, our process mandates a deep dive into the After-Repair Value (ARV). By evaluating the property’s potential in its fully renovated state rather than its current condition, we can align your financing with the finished goal of the project. This focused assessment allows you to execute your renovation strategy with the clarity that your capital matches your vision.

Address

415 OCEAN CREEK Drive
North Myrtle Beach, SC
29572

Website

Alerts

Be the first to know and let us send you an email when Jim Binion NMLS 71527 posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Jim Binion NMLS 71527:

Shortcuts

Share

Category