Home & Commercial Expert

Just Authorized: Home loan broker helps prevent clients from losing $75,000 deposit

Loan officer: Sofia Nadjibi, Golden Gate Lending Group in Tiburon, 415-706-8465.

Assets form: Single-spouse and children home in San Ramon.

Appraisal price tag: $2.48 million

Bank loan total: $1.612 million.

Mortgage style: Quick-Phrase financial loan.

Backstory: Our customers had been doing the job with a conventional loan provider for much more than 60 days when they obtained the dreaded detect of decrease. They experienced provided a $75,000 original deposit and experienced taken out all their contingencies, but the vendor experienced a back-up give and now our customers ended up at-danger of getting rid of their aspiration home AND the deposit—if they did not near within just a week.

The purchasers called us Friday afternoon crying on the cellular phone, conveying their situation. They had located their aspiration property in San Ramon that was great for their overall family because they desired room for their growing old mothers and fathers.

They experienced been in agreement for 30 times and their recent loan company was not able to close their financial loan owing to a reserve challenge. Equally customers have credit score scores higher than 800 and were being extremely nicely capable, but they did not have the $1 million in reserves that their existing lender necessary.

Golden Gate Lending Team arrived to the rescue and we bought them authorized in 4 hours, no appraisal was desired, and we funded and closed their personal loan in six times.

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