Expert Results

Included here are real solutions for real borrowers.  Each one of these clients had one or multiple obstacles that we were able to get around.

Tax return analysis-- Terry is a self employed business owner.  He wanted to buy investment property and had plenty of capital for down payment.  He was told that he did not have enough income to qualify (knowing that only $30,000 showed for the previous year) and would have to buy each property as cash, or without a loan. 

Upon reviewing his taxes, I was able to extract about $75,000 total income from his personal taxes from depreciation of rental properties.  Also, since he owned a C corperation I was able to add income showing there to his qualifying income.  I was able to turn $30,000 per year into $265,000 of qualifying income.  This is more than ample to buy multiple properties.  Client gets 5.375% with 2.75 points.

Use rental income from new investment property--  Diane is new to the investment property game.  She wanted to buy property, but had issues showing enough income to qualify even for her own expenses.  Because the property she was purchasing was such a great bargain, the acquisition of the new property actually IMPROVED her ability to qualify.  Using the rental income from the new property (even at 75% occupancy) was able to offset all of the property's expenses and add to her income to cover her other expenses.  Client gets 5.375% 30 year fixed with a total of 2.75 points.

File 2008 taxes-- Brian earns his income as an owner of rental property.  After reviewing his 2007 taxes there was not sufficient income shown to qualify for more purchases and refinances of some existing properties.  I was able to educate him about how the lender will evaluate his tax returns--ignoring one time losses, recapturing depreciation, etc.  He filed his 2008 taxes and now has unlimited possibilities for financing new properties.  Also, he is able to qualify for larger loans on his existing rental units to have liquidity for the purchase of even more.  Client gets 4.875% for 3.75 points.

Direct lender wanted corperate taxes-- The lender who had the loan wanted the corperate taxes.  After reviewing them that lender felt that our client was "bleeding" the corperation and would not use the salary income that she paid herself.  Within 4 days I had a lender approval that did not request corperate taxes.  Client gets 5.25% with 1.0 point.

Tax return review-- Realtor called me to go "stated" believing that her business owner client did not show enough income.  I reviewed 2007 taxes over the phone with the client and found was able to add back a $10,000 home office expense.  This was enough to get to a 65% expense ratio on a $580,000 loan.  The loan fit as a full doc loan.  Client gets 5.0% for 1.1 points.

Existing lender preapproval expired and program went away-- I hear it often where a buyer has been approved waiting for a short sale to accept an offer.  When they finally do, the preapproved loan is no longer available!  On this one, I turned the approval the next day and had docs 3 days after that.  Client got 5.25% for 1.0 point.