Over the past few years there has been a lot of buzz about how difficult it is to get financing for a home. Well, I am going to feed a different buzz here for the next few posts.
Just this month, we have helped some clients with some very difficult and interesting situations. Here's a quick recap of a few of them.
A single woman with limited income (as in under $1,100 per month income) wanted to buy a Fannie Mae Repo home. The cool thing about these homes is the the Fannie Mae Home Path loan program. It allows a buyer to put down only 5% and purchase a home with no Mortgage Insurance. Another side benefit is there is no appraisal required. So, we were able to qualify her for this program and get her loan closed well before the contract date. Our professional staff is totally dedicated to making loans to people who are qualified, regardless of how much effort it takes to make it happen.
We had a client who went to three lenders in town and each one only qualified the buyer for $100,000 in financing because of how they calculated income. Our dedicated team would not accept this, we put our skills to work and took the time to calculate the income correctly and helped our client buy a home. The final loan amount was nearly $160,000 and they are thrilled!
Another client had been turned down by one of the biggest lenders in town simply because they had three jobs in 12 months. This was easily overcome because we look at the whole picture with each borrower. We don't give up just because it's not easy!
Big news coming to El Paso soon. We will have our own underwriter and closer right here in our local office. This will allow us to offer even better, faster service to our clients. Come grow with us, we are the premier lender in town. Let us prove it!
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