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
SITUATION A husband and wife with strong financial standing risked forfeiting their escrow process and non-refundable deposit on a house in Danville, CA due to an erroneous tax lien impacting their credit. CHALLENGE The conventional loan was denied until the lien could be cured, which would have caused them to lose their offer and deposit....Continue reading
SITUATION Borrowers were planning to list their $2M home in the spring, but their forever home came on the market over the winter. They had to make a quick offer, needing funds to close on a $2.6M purchase in Tiburon. Borrowers were well-qualified for conventional (800+ credit with strong assets) but it was not an...Continue reading
SITUATION A homeowner moving from Larkspur, CA to Novato, CA had his down payment equity tied up in the unsold Larkspur house and would have to make a risky non-contingent offer to place a competitive bid. CHALLENGE The borrowers were unable to qualify with two larger mortgages. Without an alternative, the borrower would have been...Continue reading
SITUATION A retired couple with limited income was in contract to purchase a home for $1.1M home (downsizing). Their current home was on the market for $2.6M but was not yet in contract. They had a short timeline for closing on their purchase. CHALLENGE Due to their limited income, they could not qualify for a...Continue reading
SITUATION The customer was self-employed with multiple business ventures, which created an inconsistent personal income stream. The borrower also chose to invest his savings opportunistically rather than hold them in banks. CHALLENGE Traditional lenders like to see cash reserves in liquid accounts and prefer to see “seasoned” capital that has laid idle for months, which...Continue reading