Home & Commercial Expert

House loan broker helps prevent customers from losing $75,000 deposit

Assets sort: Single-spouse and children house in San Ramon.

Appraisal value: $2.48 million

Mortgage amount of money: $1.612 million.

Personal loan sort: Quick-Expression mortgage.

Backstory: Our clients had been doing work with a standard lender for far more than 60 days when they received the dreaded recognize of drop. They had provided a $75,000 original deposit and experienced eradicated all their contingencies, but the seller experienced a back-up present and now our purchasers have been at-chance of shedding their aspiration residence AND the deposit—if they did not close within a 7 days.

The shoppers referred to as us Friday afternoon crying on the telephone, describing their predicament. They had discovered their aspiration dwelling in San Ramon that was fantastic for their full loved ones considering the fact that they required space for their growing old mother and father.

They experienced been in deal for 30 times and their recent loan provider was not ready to near their personal loan owing to a reserve concern. Both purchasers have credit rating scores better than 800 and had been quite effectively qualified, but they did not have the $1 million in reserves that their present financial institution demanded.

Golden Gate Lending Group came to the rescue and we acquired them accredited in 4 hours, no appraisal was necessary, and we funded and shut their loan in six days.

Sofia Nadjibi, operator of Golden Gate Lending Group, 415-706-8465, [email protected]