SITUATION Borrower in escrow on a $4.5M purchase in Woodside. Borrower putting over 30% down. Highly qualified (790 FICO). CHALLENGE Despite the borrower on the surface, being highly qualified for a Jumbo loan, he was self-employed. The traditional lender declined his loan as the current income was not yet verifiable via tax returns, leaving the...
SITUATION The client wanted to downsize and purchase a new build in Scottsdale, Arizona but had not yet sold her home in Westlake Village, California. CHALLENGE The couple could not qualify with mortgages on both homes. New homebuilders generally will not accept a purchase offer that includes a sale contingency. Additionally, a multi-state purchase and...Continue reading