ASSIGNMENT:

This was purchase transaction for a repeat client. 

CHALLENGE:

We were very familiar with the borrower and we had worked in the past with both the listing agent, selling agent, and Management Company so everyone was in sync.

SOLUTION:

Placed the client into a program that had very flexible seasoning requirements. Under this program it allowed the applicant to refinance in less than 1 year time, while using a new appraised value. This is a great product when you are buying a property that is considered undervalued. Almost unheard of to be able to cash out all or a good portion of your down payment in less than 12 months.