We’re excited to rejoice one other main achievement by Benjamin Kaziyev, a devoted Mortgage Mortgage Officer (MLO), who not too long ago closed a difficult mortgage for a borrower buying a co-op in Nice Neck, Lengthy Island.
This mortgage offered distinctive hurdles, because the borrower had no constant revenue, working numerous odd jobs paid in money. Conventional mortgage packages requiring tax returns and W-2s weren’t an possibility, making it tough to qualify by means of standard means.
To navigate this case, Benjamin leveraged the no-income loan program supplied by Quontic, a lender that gives a no-income possibility for co-ops. As an alternative of tax returns or W-2s, the crew utilized the VOE (Verification of Employment) program, which solely requires a letter from the employer certifying the borrower’s employment standing.
Regardless of the precise mortgage program, the method was not with out its challenges. The financial institution’s sluggish processing and repeated lack of paperwork required the crew to add every doc a median of 3 times. Nevertheless, Benjamin’s persistence and problem-solving expertise ensured that every little thing stayed on observe, finally securing mortgage approval.
This success highlights the significance of flexibility, experience, and dealing with lenders that provide creative financing options for non-traditional debtors. Due to Benjamin’s dedication, this borrower was in a position to obtain homeownership, regardless of not becoming the standard lending profile.
Each borrower’s state of affairs is exclusive, and having a educated mortgage officer could make all of the distinction. For those who or somebody you realize is struggling to qualify for a mortgage, attain out to Benjamin Kaziyev to discover tailor-made options that suit your wants.
