Encino, California

OPPORTUNITY: Due to the larger loan size, and some other nuances that needed to be considered and addressed with this file, the lender and loan program were identified after reviewing 4-5 different lending sources and illustrating the strengths and weaknesses of each lender. After an extended escrow of 60 days, we closed on a 7/1 Interest Only at 6.375% in an upward moving interest rate environment.

SOLUTION: Lenders typically require assets in bank to be sourced and/or seasoned for 60 days – in this transaction, borrowers employer was putting up 10% of the down payment which caused us to work within the strict guidelines of down payments coming from an outside source.