Noe Valley, San Francisco

OPPORTUNITY: The first loan on a clients personal residence had reset.

SOLUTION: We arranged a new first loan for $870k, no cash out rate and term refinance, 73% loan to value, 5 year fixed interest at a comfortable 6.125%, the payments are interest only.

Laguna Beach, California

OPPORTUNITY: A long time client asked us for help in obtaining a condominium home she planned to buy. We closed the loan in 21 days. The borrower was self employed and the purchase was to be a 2nd home for vacationing.

SOLUTION: $2.23m purchase price, $1.5m loan, 68% loan to value, with a 5 year fixed interest rate of 6.25%, interest only payments.

Burlingame, California

OPPORTUNITY:Steelhead's expertise was required to assist a borrower who had made an offer to purchase without having secured their down payment. We refinanced the existing residence during the negotiation period of the subsequent purchase to obtain the down payment.

SOLUTION: The seller of the new property required a 12 day close of escrow. Steelhead choreographed a lock step plan with the borrower to close the purchase in 12 days time.

A Double Play

-- $1.0m cash out refinance, 7 yr IO, 5.875% (to access some trapped equity for down payment)

-- $1.5m purchase, $1.1m loan amount. 7 years fixed interest, interest only payment, 6.00%.

Kona, Hawaii

OPPORTUNITY: Loan sizes greater than $3.5m are not seen on a regular basis. With some of our clientele, it is not uncommon to work on multi million dollar loans. The market for $3.5m + home loans is a small field and one where you better know what you are doing. At this level, your communication, delivery, and how you serve up the loan, is essential for minimizing “exception” pricing.

SOLUTION: Within a 15 day period, from contract to funding, Steelhead Residential delivered a $7m loan at 5.375% on 10/1 Interest Only (please keep in mind borrower bought down his interest rate to achieve this rate). How satisfied was our client? His other local source was providing him an equivalent program at 6.125%. This .625% of a difference allowed him to save $43,750 a year in interest.

This purchase in early 2007 allowed us to demonstrate to the buyer and seller of this development, that Steelhead Residential had the discipline and know how to package a very complex loan while meeting the basic underwriting criteria to satisfy the secondary market.

Concord California

OPPORTUNITY: In this particular transaction, the borrower wanted 100% leverage (LTV) to preserve her “non liquid” assets and not have to sell these assets for her down payment. Like all loans, it’s all about positioning the loan package and how you demonstrate to the lender that this borrower has the financial wherewithal to carry and support this loan for the long term.

The borrower was a self employed massage therapist, who had recently moved to the Bay Area, but still maintained her rental properties in Sacramento for her retirement.

SOLUTION: By taking out a HELOC on a single family residence in Sacramento, we were able to achieve the post closing reserve requirements for the purchase of her new house in the Bay Area. Knowing that “trapped” equity would not fulfill our 9 mo’s of PITI reserve requirements, we put a low leverage HELOC (6.75%) on the property and deposited the proceeds into her savings accounts to accommodate the lender.

After covering the lending market, I was able to identify a niche lender who provided us 7/1 Interest Only for 6.25%, plus a 2nd loan at 8.75% for a total loan amount of $585,000.

Great loan for this borrower.

Menlo Park, California

OPPORTUNITY: Very sophisticated borrower wanted to free up cash to re-invest in higher yield investments.

SOLUTION: Strength of borrower coupled with niche lender who compensates for strong assets and FICO scores, allowed us to acquire a 5/1 Interest Only loan for 5.5%.

Kona, Hawaii

OPPORTUNITY: This loan was for the purchase of a single family residence in one of the premiere vacation developments in all of the islands. This very high profile development required Steelhead Residential to work with not only the in house sales team, but many other groups who had a vested interest in a successful closing.

SOLUTION: In working with the borrower, we were able to secure a $3m loan at 5.25% for a 5/1 Interest Only (borrower elected to buy down the interest rate.)