DROP Mortgage: Coming through where so many fall short..
In an industry where the average age of a loan officer is 53 years old, it is easy to see a majority of the industry is stuck running in place. There is still this massive appeal to originate A-Paper, Fannie, Freddie loans, despite their limiting grasp of consumers.
DROP Mortgage operates on the notion that every hard working American, and Entrepreneur should have an opportunity to own a home. We take a step back from the standard 2 year tax return 760 fico to examine our clients FULL financial picture. So while you may only have a 650 fico and a year in your NEW buisness, we don't feel this should prevent you from purchasing your new $2,000,000 home!!
We understand that Self-Employed Entrepreneur's have a greater earning potential than simply what their returns show. We are able to look at Personal or Business Bank Statements to calculate their ability to repay. Our founders have been in the market place through the recession and understand even the savviest of investors may have still recorded a blip in their credit history, despite doing so well now. We are able to look at how your finances are structured NOW, rather than dwelling on a credit even from 3 years ago or even over a year ago..
In order to work around even the most trying loan scenarios, we have to think out of the box. When you have clients whose net worth is in the tens of Millions, it's easy for a traditional Underwriter or Loan officer to get overwhelmed and not see the whole picture. We pride ourselves on understanding the structure and goals of even the most sophisticated High net worth clients.
If you have clients that simply do not fit in the box... Maybe it's time you look into DROP Mortgage for your High End Real Estate Financing..
Feel free to reach out for product details or to run a difficult scenario by me or my business partner Chris Hlinka anytime!