Mortgage Finance Solutions
With a management staff that’s been active in mortgage lending since 1987, PEACHTREE FINANCIAL can deliver service and competitive rates better than almost anyone. Additionally, as a mortgage boutique, PEACHTREE staff are experts in complex transaction structuring and loan qualifying. In fact, one of our clients even called us “The Loan Whisperers” after we rescued their floundering purchase transaction from another mortgage company! Please see the categorized examples below for situations where PEACHTREE has delivered on tough transactions by overcoming complex financing challenges.
Self-Employed and/or Complex Income
A self-employed client with income properties was struggling with a simple rate reduction refinance of her primary residence. Her loan applications had been declined due to insufficient income by three different banks over a five year period! We performed a thorough loan analysis and found numerous errors in the way the three banks had calculated the client’s Self-Employment income. PEACHTREE was able to close the loan at a very competitive rate in about 30 days!
A client seeking a simple rate reduction refinance had just about given-up hope on reducing his mortgage payment. He had been denied by both a bank and a mortgage company due to adverse credit prior to applying with PEACHTREE. We performed a thorough credit analysis and uncovered two creditor reporting errors. Although the errors were small and thus difficult to detect, once we got them corrected, it was enough to get the loan approved and funded, saving the client almost $1,000 per month!
A high income professional was attempting to purchase a $2,500,000 home. He had spoken to three different banks, but due to the sales price of the home, they were all requiring a 30% down payment. After reviewing the application and proposed property, PEACHTREE was able to secure a special purchase money loan with a down payment of less than 20%! The loan closed on time as per the date on the purchase contract.
A self-employed client with multiple investment properties was purchasing an owner-occupied residence. She had been denied by one bank and one mortgage company due to insufficient post-closing cash reserves. We did a thorough loan analysis and discovered multiple errors in both the calculation of reserves and the structuring of the transaction. PEACHTREE was then able to close the loan in less than 30 days to meet the required escrow closing date.
Another self-employed client with multiple investment properties was attempting to refinance one of those properties (a single family residence) but had been denied by two different banks because she was running a business out of the property. We performed a thorough loan analysis and discovered that each institution had made two critical errors: 1.) both had improperly calculated the client’s income; and 2.) both had miscategorized the transaction, making the loan ineligible for conventional financing. In addition to closing the loan in far less time than the client had expected, PEACHTREE was also able to get the client enough cash to purchase another business.
Vesting in an LLC/Titling Issues
A client was seeking a cash-out refinance on a $1,400,000 single family investment property that he had purchased with cash several years prior. Since he held the property in a multi-member LLC, two mortgage companies had advised him to temporarily retitle the property into his own name because mortgage lenders typically do not make 30-year loans to business entities. He was told that he could then retitle the property back to the LLC after the close of escrow. However, both his CPA and his attorney strongly advised against any temporary retitling of the property for a myriad of reasons. Despite the complexity of the client’s income stream, which flowed from a multitude of different entities, PEACHTREE was able to secure a 30-year mortgage at a very competitive rate – and without the need to retitle the property.
WE HAVE MANY LOAN PROGRAMS TO FIT YOUR NEEDS
Equal Housing Lender/Broker licensed by California Department of Real Estate.
Rates & Programs are subject to change without notice.