Velocity Mortgage Capital
has announced the opening of its newest office in Austin, Texas. Velocity is a nationwide, direct portfolio lender dedicated exclusively to providing investment property loans for residential one- to four-family, multi-family, mixed-use and small-balance commercial properties. Velocity’s investment property loans range from temporary, short-term, credit repair and fix-and-flip programs to 30-year, fully amortizing mortgages with flexible terms to meet the diverse needs of real estate investors.
“The market for residential one- to four-, multi-family, mixed-use and small-balance commercial properties is strong all across the country,” said Velocity Mortgage Capital Chief Executive Officer Chris Farrar. “Opening our Austin office provides us with the opportunity to work with brokers in Texas and other states in the central region of the U.S. to provide capital to self-employed real estate investors who might not qualify for traditional bank loans.”
Commercial mortgage industry veteran Stan Salter will lead the new Austin office and serve as Velocity’s Regional Sales Manager. He joined the firm’s Westlake, Calif. headquarters as an Account Manager in 2013 and was tapped to open the new regional office. Before joining Velocity, he worked for other commercial mortgage firms in roles with increasing degrees of responsibility.
“Our goal is to increase the footprint in Texas and surrounding states,” Salter said. “We have an opportunity to build something here.”