TargetRate

Target Rate, operating from Santa Monica, California, functions as a mortgage broker committed to finding innovative financing solutions for its clients. Led by Vice President Mitch Lichterman, the firm navigates complex lending landscapes to offer adaptable programs, particularly catering to borrowers seeking alternatives to traditional income verification methods.

The company specializes in Non-QM lending, including bank statement programs that assess income based on deposits, making homeownership accessible for self-employed individuals or those with fluctuating incomes like commission-based or seasonal workers. They also facilitate "No Income qualifying loans," providing options where traditional documentation is not feasible, alongside conventional and jumbo purchase loans with low down payment options.

Target Rate extends its services to include second trust deeds and HELOCs for both owner-occupied and investment properties, demonstrating a versatile approach to real estate financing. Their focus remains on identifying suitable loan products for a broad spectrum of borrowers, even those affected by economic challenges like forbearance or unemployment.