Explore flexible mortgage options and unique financing solutions designed to make buying a home possible, even in the toughest situations.
When it comes to financing a new home, the word no can be daunting. As a mortgage broker, I understand the importance of flexibility and creativity in securing the best financing options. While I’ve mastered the art of saying “No” when necessary, my team and I approach every situation with a “Yes, there’s always a way” mentality. This approach allows us to find tailored solutions that can make homeownership achievable—whether immediately or in the near future.
At United American Mortgage, we pride ourselves on saying yes when other lenders say no. Here’s a real-life example:
Scenario: From “No” to “Yes” for New Homebuyers
Imagine this: Two W2 income earners are looking to purchase a new home. They each currently own a property, but the equity in these properties is tied up and planned to be used as the down payment for their new home. Their goal is to make a non-contingent offer, but they face a couple of challenges:
- Their debt-to-income ratio doesn’t support the new mortgage along with their current properties.
- They don’t qualify for a traditional bridge loan to unlock their equity.
Here’s how we made it work:
- The Bridge Loan Solution: We arranged a private bridge loan on one of their existing properties. No payments were required until the sale of the property, as the payment was added to the payoff balance after the home was sold.
- Debt-to-Income Flexibility: Our jumbo loan investor didn’t factor in the bridge loan or payments on existing properties in the debt-to-income calculation for the new mortgage.
Thanks to this customized solution, these buyers were able to qualify for a $1.3 million purchase with a 20% down payment. Once the other properties are sold, we’ll even help them refinance into a smaller loan with a lower payment at no cost.
Saying Yes with Innovative Products
We offer solutions for nearly every scenario, from traditional Jumbo and FHA loans to more specialized programs like:
- No Income No Ratio Loan: This unique loan product doesn’t require you to prove income, making it ideal for primary residences and second homes. With a credit score as low as 620, you can secure up to $3 million in financing, even if you’ve faced challenges with traditional lenders.
- Investment Property Loans: If you’re looking to purchase an investment property, our competitive financing options don’t require income verification, letting you focus on building wealth through real estate.
Why Choose Us?
With competitive rates, fast closing times, and a dedicated team ready to say yes to even the most complex situations, we’re here to make your real estate dreams possible. Whether you’re a first-time buyer or a seasoned investor, we offer solutions that bring you closer to the keys to your new home.
Thinking of buying your dream home or an investment property? Reach out to see how we can say “yes” to you!