Every week we share stories about homebuyers and homeowners who are achieving their goals with RPM as their partner. Click below to read more.
Two years out of bankruptcy, we never thought we'd own a home again-until we met you.
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!
Three words to describe how you closed my condo in 11 days: Saved. The. Day.
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.
When our loan blew up at another lender, you worked the weekend to approve us in 5 days!
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.
By closing my home purchase early, you let me give my girlfriend the surprise of a lifetime.
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.
I was newly divorced, self-employed, and you saved me with a rate 2 percent lower than my old loan.
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%!
Wow! Even with my credit issues and a gifted down payment of just 3.5 percent, RPM closed my FHA condo purchase in 8 business days!
A first time buyer didn't think she could buy a home because of past credit problems and a minimal down payment from her parents. Once we reviewed her credit history and briefed her on down payment gift rules, we recommended a 3.5% down government-backed FHA loan. Once she realized she could be a homeowner, she was in hot pursuit and quickly made an offer on a cozy condo. Because condos have additional documentation and HOA restrictions, the seller's other offers asked for 30 and 45 day closings. When our buyer offered a 15 day close and waived her loan contingency, the seller accepted her deal, and she ended up moving even faster than that. She was in her new home in just 8 business days!
I qualified for a 900,000 dollars in cash out of my home using just bank statements as documentation.
An entrepreneur looking to take cash out of his primary residence valued was unable to qualify using his tax returns because of how he files for his several businesses. But after analyzing all of his personal and business asset accounts, we were able to offer our specialized program that uses assets instead of tax returns to qualify. We subtracted 36 months of reserves from the total assets, then used a formula to calculate income needed to service all debts from the remaining assets. This formula allowed him to qualify for a $2.5 million cash out refinance, of which $900,000 was cash to him at closing. He was able to use the cash for his newest business ventures.
RPM blew a big bank out of the water with personalized service, lower rates and speed.
We checked in with a former client and timing was perfect as he was in the process of a building a new home. The builder he was working with strongly recommended using their preferred lender to get pre-approved. The client met with the other lender but realized their lack of personalized service and speed did not meet the expectations that RPM had set. In addition to providing detailed payment and rate scenarios for his $499,000 loan, we offered a lower rate than the competitor and had the ability to lock for an extended period of time. This offered him the much needed flexibility to secure his rate now and move the process along while he awaits his dream home.
RPM saved the day after 5 other lenders couldn't qualify me for my 20 percent down purchase of 1.9 million dollars.
A client was shopping and working with 5 other mortgage lenders to secure a $1.5 million loan. One factor was a balloon mortgage on an investment home. In addition, the borrower was self-employed and had corporate returns, tax extensions, and multiple entities that created complexities other lenders couldn't decipher. We were able to make an exception on his late mortgage payments by documenting the circumstances, and documenting enough income to qualify by explaining how each of his business entities related to one another. We closed his 20% down purchase of a $1.9 million home within 30 days.
RPM saved me a whopping 2,800 dollars a month by refinancing two of my high-interest mortgages!
After being turned away by a major bank for lack of qualifying income to fit their guidelines, a client came to RPM to refinance her high-interest private money loans. Because she owned several restaurants, she wrote off everything on her taxes, thus reducing her qualifying income. We educated her on how self-employed income is calculated and informed her of the importance of having ample assets to strengthen her qualifying ratios. After adjusting her write offs for 2016, we were able to increase her qualifying income and refinance her loans on her primary and investment homes. She's now paying $2,800 less per month, which has completely reinvented her savings and retirement plan!
As our go-to lender for 10 years, RPM was our first call for our most difficult deal yet.
When past clients found a new home two states away, they needed to close on that relocation home using cash from their existing home. This meant doing a cash-out refinance on their existing home and finding a renter for their home before they moved - which met their financial objectives and was required to qualify. While working on both loans in the proper sequence, a client's family member passed away, which was incredibly stressful for them and impacted their financial profile. We worked with them 24-7 to close the refi two days before the purchase, to close both loans within 30 days total, and to calm nerves and provide stability during their most unstable hours.
RPM's on-the-spot communication got us the home we wanted in this crazy competitive market.
A past client who refinanced with RPM a few years back was ready to move up and asked us to pre-approve him to buy in an extremely competitive market with way more buyers than homes for sale. We let him know that our Advance Approval® is far more effective than a pre-approval because we actually have a human underwriter approve his loan before he makes offers. This way when listing agents review his offer compared to other buyers, they know the loan is ready to go. Even though he had 40% down, his offer wasn't the highest bid, and it was RPM's Advance Approval® that won over the sellers. Icing on the cake: we could've closed a week early, but the sellers needed more time.