CASE STUDIES - EXAMPLES

We have a long track record of helping borrowers and realtors with closing loans under difficult circumstances.  Here are a few of our most noteworthy examples:

A borrower had been declined after dealing with Washington Mutual directly with 35% down.  She had been in the same job less than 2 years, had no credit history, and had other people attached to her accounts.  Due to our relationships with our lenders, we were able to obtain financing with only 30% down on a 3.99% loan with no pre-payment penalty.

A borrower with poor credit required 95% financing to get the property they wanted.  They had just one year of credit history, non-seasoned funds, and charge-offs.  We improved their credit score by adding non-traditional credit sources- rent and utilities, raising their score enough to obtain the loan.  We did this while the borrower was out of the country on vacation, allowing them to return to their new home.

The owner of a $1.8 Million property needed a cash out refinance to pay off debts.  While they had large assets, they had poor credit, with a car repossession, and no verifiable income, and the property in question was not in their name.  We obtained a loan to pay off the repossession, raising their credit score by over 60 points, enabling the full cash out refinance at a rate that saves the borrower $2800 per month, and got the loan in his name.

A buyer of a $1.4 Million home must sell their current property to obtain the 40% down payment required to qualify.  Unfortunately, after 3 month son the market, they had been unsuccessful in selling their property.  We were able to obtain a 20% swing loan on the current residence in one week.  This allowed us to get the borrower into the new property with an 80% purchase loan with no income verification at a low teaser rate, enabling the borrower to afford both properties while waiting to sell the existing property.

A $900,000 oceanfront unit was commercially zoned in Venice.  The building had no heating and was in need of repairs.  Recognizing a problem before it arose, we were able to arrange for cosmetic repairs to the property prior to the appraisal and achieved a residential loan approval.

A former meat market in Venice had been converted to a 3 unit residential property without permits, and with poor design- the toilet was mounted on the front porch!  A street musician wanted to purchase the property for use as a recording studio.  We negotiated with the lender to hold back some funds in escrow to clean up the substandard conditions, allowing for a loan at 85% with no income verification.

An 85% loan on a 500 square foot home next door to the borrower's primary residence was arranged by another broker- this loan was declined after two weeks in escrow, with only two weeks until the close date.  We were able to get the borrower approved for an 85% loan as a second home within 3 days, allowing the borrower to complete the purchase.