Stories of success

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Client Profile:
A 19-year-old entrepreneur operating a successful seasonal family business sought financing for a property purchase. Although the purchase price fell well within the acceptable debt-to-income (DTI) ratio, the client faced several complex challenges that could have easily derailed the transaction. Challenges Identified: Credit and Documentation Issues Fair credit score with limited history due to young age. No long-term credit or traditional employment income (self-employed, no paystubs). No formal accountant or established Profit & Loss statements. Recent business name change which interrupted perceived business continuity.Lack of two years of consistent tax returns under the current business name.Perception Risks: Lender concern due to the client's age and short credit age. Seasonal income patterns not easily verified. Documentation appeared inconsistent due to business rebranding and reorganization. Strategic Solutions and Support Provided: 

Credit Optimization:
We worked closely with the client to identify and implement strategies to boost his credit score, which improved eligibility and pricing. 

Documentation & Income Validation:
Leveraged two years of tax returns from the original business, demonstrating consistent income even before the name change. We clarified that the client was the owner throughout, ensuring business continuity for underwriting purposes. 

Professional Support Network:
Referred the client to a trusted accountant who promptly helped reconstruct necessary financials and validate income flows in a lender-acceptable format

Lender Coordination & Narrative Building:
We proactively communicated the unique nature of the client’s profile to the lender, addressing concerns about his age, business transition, and documentation. This included detailed letters of explanation and third-party verifications where necessary.

Outcome:
Despite the multiple barriers, we successfully closed the loan in just 20 days. The client secured favorable terms and is now a proud property owner, continuing to build both his real estate portfolio and entrepreneurial legacy at an impressively young age.

This case is a testament to what personalized guidance, strong partnerships, and creative problem-solving can achieve—even when conventional criteria seem out of reach.

This case is a testament to what personalized guidance, strong partnerships, and creative problem-solving can achieve—even when conventional criteria seem out of reach.Initially we were trying to just do a cash out refinance on the primary residence as this was the most cost-effective option. Once we received the documentation, we discovered that the income was lower than originally thought. The rental income was also lower, so we had to look at other options. The debt-to-income ratio was over the limit for FHA, so we explored options on the rental property. We decided a DSCR loan would be a good option because we could use just the rental income to negate the mortgage payment. Our only issue is that the credit score was under 660. We proceeded to run credit simulators to see what the most affordable option would be to get the middle credit score over 660. We found that 2 credit cards could be paid down (costing around $2,500) and this would get us over 660. Our client was on a timeline crunch to get the refinance completed because a marital debt needed to be paid. Due to the urgency of the matter, we did what is called a rapid rescore. This allows our credit company to reach out directly to the creditor and the credit bureaus, to update the scores in 3-5 business days instead of 30.

Now that we restructured the deal and had the credit updated, we were off to the races. We were able rush everything and complete the refinance before the deadline. Our client has since been able to pay down the other credit cards and her score is now in the 700’s. Every client and situation is unique and we enjoy the challenge of assisting people in difficult situations. For us, this was one of the most memorable transactions of the year. I think that’s because we could immediately tell how much relief she felt after getting this all behind her. If you know of anyone in a similar situation, please have them reach out to us for help!

From: D Ba<gmail.com>

Subject: A Lender to Consider

Date: November 15, 2018 at 10:58:10 AM EST

To: S>

Cc: Rob Bennett 

Hi s,

I wanted to take a minute to introduce you to Rob Bennett.  (You met him briefly a few weeks back when he had stopped by the xxket office for an informal meeting with me.)

Rob will be at the office tomorrow, as we are closing the deal he saved at 11:00 in the conference room.  If you are available for a few minutes around 10:00 or 10:30, I'd love for you to meet him.  

Just to fill you in a little bit, my sweet clients had decided to move forward with an online lender (against my warnings!).  When the online lender began to waver in their commitment, my clients reached out to a local lender here in Athens. Although my clients were a great credit risk, it didn't look like anything was going to work, and we were coming up on our finance contingency deadline, and too close for comfort from the closing date per the contract.  Enter Rob Bennett and xxxxxxxxxxx.

Rob and his team pulled off the seemingly impossible - and we are going to close tomorrow, at just over two weeks from them receiving the file!  He has worked diligently to make this happen for them, and I just wanted to take a minute to introduce the two of you.  Rob is looking to expand into the Athens market, and I thought it might be a great opportunity for the two of you to "talk turkey"! (See what I did there?)  Anyway, if you're available, Scott, it would be an honor to formally introduce the two of you tomorrow. 

Kindly,

DB