Today she recounts a story that explains her tagline: “I’ve never met a loan I can’t close.”
Not so long ago, a real estate agent called Amy asking if she could get a deal done for a client who already tried working with another mortgage lender but things didn’t work out. The agent wouldn’t give the full story; they only said that the property’s value presented a problem.
As it turns out, the property had two houses—a main house and a guest house. If you don’t have a comparable sale that also has an accessory unit for your home’s appraisal, Fannie Mae and Freddie Mac won’t insure it. The other thing the agent didn’t tell her was that it was zoned commercially instead of residentially. A few years ago, the owner ran a daycare out of the home, and the zoning classification was never changed.
If you’re having trouble getting a loan because the property you’re buying is unique in some way, it’s a good bet that Amy can help you.After she got her own appraisal back, Amy talked to her underwriter about keeping the file as a portfolio loan. The client didn’t qualify based on credit, but she explained that she wanted to buy the house because her adult son was disabled and would be living on the property with her. Furthermore, it was her son’s medical bills that harmed her credit in the first place. If you looked past those bills, she never missed a payment on anything else in her life.
Though she didn’t qualify, Amy flipped the loan to one of her portfolio products and closed it for her because it was the right thing to do.
If you’re having trouble getting a loan because the property you’re buying is unique in some way, it’s a good bet that Amy can help you. If you’d like to get in touch with her, you can call her at (913) 324-6103.
As always, if you have any real estate questions for me, feel free to call or email me as well. I’d love to help you.