Every week we share stories about homebuyers and homeowners who are achieving their goals with RPM as their partner. Click below to read more.
After being denied by one lender and disappointed by another, we learned that the third time really is the charm.
Disappointed by one lender’s denial and another’s purchase approval amount, a borrower came to us for a third opinion. He was self-employed with a low credit score and complicated income, but remained hopeful for a better option. We first tackled his credit and set him on a path to improve his score. Then we analyzed his taxes and did a more accurate accounting of his gross monthly self-generated income. After a few months, his credit was improving and we were able to pre-approve him for double the amount quoted by his previous lender. He’s now settled in his new home and happy he made his third option his first choice.
As physicians, our income is complex. But, it was an obstacle you were able to cure.
Two weeks into contract on their dream home, two physicians were shocked when their bank told them it couldn’t move forward on their loan because of their unique income structure. As doctors, their income included a variety of overtime and differential pay, plus they had recently switched from W2 to 1099. Fearful they’d lose the property, they followed their agent’s advice and gave us a call. We easily identified the income issues, worked through them, and were able to approve their loan quickly. In less than three weeks, everything checked out fine and these two doctors were diagnosed as homeowners.
You helped us double our down payment and close on our first home - ending our two-year search.
After searching for nearly two years, potential first time home buyers came to us to strategize ways to strengthen their offers. They had 10% to put down, were self-employed and had sky high debt ratios. We recommended a unique down payment assistance program that provides an additional 10% down without any additional cost – increasing their total down payment to 20%. With their new pre-approval in hand, they submitted a strong offer and committed to a 22 day close. This time, history did not repeat itself and the seller accepted the offer, providing a happy ending to a two year search.
Your knowledge, support and approachability made our first-time home buying experience a breeze!
A young couple was looking to purchase their first home and came to us with many questions about buying and getting pre-approved. Referred by their Realtor, we sat down to answer their questions and go over various low down payment programs that worked with their budget. We pre-approved them for a 3.5% down FHA loan to help preserve their funds and kept in touch while they started their search. Once they were in contract, we helped ease their concerns as the house underwent repairs and continued to guide them throughout the transaction. They’re now comfortably settling in, fulfilling their goal of owning their first family home.
You helped turn us from renters into owners, without even moving.
Completely happy living as rented tenants in a unit of a duplex, our clients were devastated to learn that their landlord wanted to put their home up for sale. They had no desire to move and were interested in purchasing the property, but worried homeownership was still out of reach. They asked the landlord to keep the for sale sign off the lawn while they explored the possibility, then gave us a call. When we met, they were thrilled and surprised to learn that they could qualify to purchase both units of the duplex. They were thankful to be able to stay in the home they loved and lived in for so long, and now even have rental income to help supplement their new mortgage!
In today's competitive real estate market, we needed an advantage. You gave us two.
In a competitive market, clients were facing a potential disadvantage – they had to sell their current home to be able to afford the down payment on a new one. To provide them a competitive edge in a multiple offer situation, we offered them two key advantages. First, we reviewed their retirement assets and found funds that could be used as their down payment. This strategy eliminated the need of having to make a contingent offer and the funds could be repaid upon the sale of their current home. Then we approved them upfront with Advance Approval®, showing sellers we could close quickly. These advantages paid off and our clients were able to make a non-contingent offer, securing the winning bid on a new home.
With your help, we financed the cost of our home repairs and mortgage all into one affordable loan.
First time buyers had just gotten into contract on a nice fixer upper when they realized the home needed much more work than they initially thought. Nervous they wouldn’t have enough funds to cover the renovation costs, their local bank suggested they chat with us to discuss a more specialized type of financing. We met and informed them that an FHA 203k renovation loan would allow them to finance the cost of the repairs along with their new mortgage, without affecting their budget. These types of loans can take more time to close, but by working closely with their contractors and keeping their file updated, the repairs and their loan were ready two weeks ahead of schedule – taking their home from potential to perfection.
After completing my seventh loan with you, there's no doubt that I'll always trust your expert advice.
A long-term client with six loans under her belt came to us to once again for advice. She had recently sold a property in one state and wanted to use the funds to buy a condo in another. Knowing she wanted to preserve as much cash as possible, we recommended she do a 1031 exchange to avoid paying additional taxes on the sale. With the clock ticking, we helped her complete the paperwork, overcome obstacles with the listing agent, and close ahead of the exchange deadline. She was not only grateful for the investment advice, but for having a go-to lender she could rely on.
After our lender denied us last minute, you took over with grace and speed.
Clients were working with another lender when their loan was suddenly denied the day they were scheduled to close. The buyers were panicking, but their Realtor knew we had a reputation for saving difficult transactions, and immediately called us to help. As we were looking over the borrowers’ documents, we noticed the other lender had not included rental income from their duplex. Unaware of the proper way to document this, the clients hadn’t claimed this as income before. So, to avoid this as an additional expense, we had them amend their tax returns. After rushing their taxes and loan approval, 10 business days later, all items were aligned for a smooth and successful closing. Another loan saved, another happy couple!
You increased my credit by one hundred points and my chances of becoming a homeowner by one hundred percent.
Expecting the arrival of their first child very soon, a couple decided it was a good time to get out of their tiny rental and came to us to discuss next steps on becoming homeowners. They had ample income and assets, but the husband’s limited credit history and collections were dragging down his overall score into the mid-500 range – which was too low to qualify. We told him not to worry and provided a guided plan with specific steps to improve his credit and their chances of qualifying. After a few months had passed, we pulled a new credit report and could clearly see the results when his score came back with an 100-point increase! With boosted credit and confidence, this set the foundation for their loan approval and helped these new parents secure a place of their own to raise their new baby.
I came to you with bad credit, no down payment, issues with my income and little hope. With your help, I left with a home.
After going through a complicated divorce that exhausted her energy and finances, a client needed to shift her focus to buying a home. She was not feeling hopeful when we met, but we assured her that we could tackle the three huge obstacles in her way. We first addressed her credit, which was left destroyed by her divorce. After a few weeks, we were already seeing improvement. Next, we looked at her income. In addition to her primary source, we needed to use the annual inheritance she was receiving to help her qualify. Unfortunately, it had been reported incorrectly on her last three years of tax returns. With the help of her accountant, we had them amended so we could properly document and use those funds as part of her monthly income. With those items addressed, a door opened to a down payment assistance program – saving her from having to bring funds at closing, and providing a new found optimism on the next chapter of her life.
With income tight, you found an affordable financing solution that fits our budget.
A newly married couple had their sights set on a 15 acre property, but had some hurdles to overcome before making an offer. On a fixed disability income, the husband was unable to work so his wife was trying to qualify for the loan solo. Because she was tied to an existing mortgage from a prior marriage, we had to include her ex’s housing payment in the debt calculation. She was still able to qualify, but we needed to improve her debt-to-income ratio. After some number crunching, we found an inexpensive homeowners insurance plan and matched them with a low down payment FHA loan, which lowered their monthly payments. This gave them the ability to purchase their big piece of land and offered an affordable solution that met both their farming and finance needs.