Client Wins

Every week we share stories about homebuyers and homeowners who are achieving their goals with RPM as their partner. Click below to read more.

Deposit saved. Deal done. Sanity preserved.

A couple was in contract to buy a home for weeks before another lender finally told them no-go because their income was not high enough to qualify. Buyers had already passed the loan contingency date on their contract, so they were forced to close or risked losing their deposit. Their realtor came to us one day before a holiday weekend with less than two weeks to close. We assessed the client’s file and found that the other lender was deducting expenses from the buyer’s write offs on their taxes that, due to the buyer’s commission income structure, did not need to be excluded. We knew this and quickly acted, enabling us to go from application to funding in just 9 business days. Deposit saved. Deal done. Sanity preserved. Just another day serving our clients!

Clients came to us in distress after working with another lender unsuccessfully on their 3.5% down FHA purchase for nearly two months. The other lender had trouble documenting their income and didn’t properly understand rules relating to down payment gifts for FHA loans—which are allowed, but require very specific documentation. We paper trailed the funds for the gift, and addressed that the source for the funds were from the family and did not need to be repaid. Because they were out of time, we completed our initial client consultation, packaged and submitted their file for approval all in one single day. Then we approved and closed them within just 9 days. They cried tears of joy and relief when they found out how fast we were able to finalize their loan and keep them on track.

After a local artist passed away, his widow listed their one-of-a-kind loft in hopes of finding a buyer who would preserve its use and beauty. Another artist fell in love with the property immediately and made an offer. Deep into the deal, the buyer’s lender told him they couldn’t lend on it because the loft had been converted from a grocery store. The seller wanted to give her “ideal” buyer a chance, but started considering other cash offers. The buyer’s realtor referred him to us with just 10 days left on the contract, and after studying the zoning history and recent comparable sales, we were able to properly document the property as a standard residential deal. We closed within two weeks of receiving the file, and made both seller and buyer dreams come true by allowing the property to pass to someone who would preserve its legacy.

After working unsuccessfully with another lender for six months to obtain cash out from two rental properties to remodel them, a client vented to a family member who’d worked with us and sent her our way. After examining her profile, we realized the other lender barely scratched the surface. She only owed $15,000 on each rental and wanted to take out $400,000 from each home for remodeling. She owned four properties total, with each of the rentals in question having income from multiple units, plus she had multiple sources of investment and retirement income. It was just a matter of studying and documenting a complex profile. Within 30 days, we closed both loans and she got started on both remodels.

A very busy client in an extremely competitive housing market was bidding on a condo just before leaving the country. She could only put 20% down, which sellers don’t consider very competitive when reviewing several concurrent offers, including offers to buy for all cash. So we used our buyer’s need for speed as a way to appeal to the seller of her dream condo. We used our Advance Approval program to fully underwrite her loan before she made an offer, which made her comfortable writing a 15-day-close offer that wasn’t contingent on financing. Doing so made her offer as competitive as cash, and in fact, able to close faster than other cash offers. The sellers accepted her offer, and we closed the entire deal before our client had to leave town. Smart advice, simple process, super speed.

While touring an open house, a home buyer saw the loan options flier we had displayed at the home. After seeing our competitive rates and various loans to meet different buying objectives, he contacted us to get started. We sent him to our Home On Time® App where he applied in minutes and direct-connected his income and assets using his phone, saving days of chasing paper to get approved. We issued his pre-approval letter to the realtor, assured the sellers of how fast we could close, and he won his bid on the home! We closed on time as promised, and could’ve closed early, but he wanted more time to negotiate a closing credit from the seller, which we also advised on.

A couple looking to get approved found us online, and told us their existing lender couldn't approve them because of a past foreclosure. Our homework revealed that the foreclosure was one month older than the 7 year post-foreclosure waiting requirement for their target loan. We approved them for a piggyback first and second mortgage and they found a home shortly after. A week later they told us the wife had been in the reserves, and asked if she qualified for a VA loan to lower their down payment. We re-structured their deal to VA midstream, confirmed their required benefits, and still closed their home purchase on time in 21 days!

After going through a tough bankruptcy two years ago, a couple was looking for a new home to settle into and get back on their feet. Other lenders couldn't meet their jumbo loan objective so soon after a bankruptcy. But when we analyzed their profile, we concluded that their past credit issues were isolated and the rest of their employment, income and asset profile was stable- and we approved them for a jumbo loan on a $620,000 purchase price. This was a life changing moment for them to be able to recover and get back on a long-term path so soon after their troubles. Second chances are alive and well working with us!

On day 20 of a homebuyer's 30 day condo purchase, another lender pulled out of a buyer's deal after discovering condo HOA litigation late in the game. The real estate agent knew us and connected us with the buyer before the sellers accepted an all-cash backup offer. The buyer used our Home On Time® App to submit their loan application and docs in minutes while we quickly researched and verified the condo litigation was not a building defect, the case had settled and did not involve our buyer's unit. We fast-tracked approval of the borrower and the condo, and closed on time in 11 days, saving the deal for the buyer.

In the middle of buying a home, a competing lender couldn't figure out how to use a client's self-employed and social security income to qualify for a jumbo loan of $1.1m. When their realtor asked us to step in, we worked with the client through the weekend to analyze their profile and package their file. In just 5 days, we approved them, offered a lower rate, and enabled them to remove their financing contingencies to give sellers the green light to close. The client, his realtor, as well as the sellers and their realtor went from being in a total panic with another lender to being over the moon with us.

A client buying a new construction town home started using his bank for his mortgage until his realtor suggested he shop rates with us. We matched his bank's rate, and he commented on how our "extremely fast responsiveness" and "very thorough" advice "reduced paperwork and expedited the process." We approved him in 22 days and closed one day early so he could surprise his girlfriend, who was relocating across states to live with him in what she thought was just a rental apartment. Their realtor wrapped the new home with a big red bow on the door and his girlfriend was absolutely amazed. Talk about boyfriend of the year! Their new home is now very clearly where their hearts are.

After a tough divorce, a client needed to refinance out of a high-rate adjustable mortgage and take her ex-husband off title to the home. Since the divorce was new, they hadn't yet separated bank accounts, credit cards and 30+ properties they owned. Other lenders denied her due to her complex business of buying and selling 10+ properties per year and tax returns with wildly fluctuating income. But we approved her using one of our specialty mortgages that allows us to qualify using 12 months of bank statements to calculate estimated income. We refinanced her adjustable rate to a fixed rate and reduced the rate by almost 2%!

Pages: 12 3 4 5 6 7 8 9