💥 MCF TO THE RESCUE 💥
Location: Cerritos, California
Property Type: Primary Residence
Loan Type: Home Refinance
Loan Amount: $300,000.00
$ Rescued Revolving Debt: $95,000.00
🛑 The Problem:
- Our REALTOR® partner had run up her credit cards to stay afloat with the high inflation and costs that we all face these days.
- The monthly payments on this $95,000.00 was back-breaking considering that these credit cards had a mixed rate of over 15%.
- They attempted to refinance with a traditional lender and bank. They were denied due to their lack of income documentation that meets “traditional” income verification methods.
- Banks and traditional lenders don’t know how to work with self-employed borrowers who use the tax code to their advantage!
🙌 The Solution:
- Our Portfolio Loan Program is designed for those who don’t fit into traditional and out-of-date income underwriting guidelines.
- We helped our REALTOR® partner with our Portfolio Program and gave them the cash that they needed to pay off their revolving debt and set up a nest egg to help them and their family better deal with higher living costs.
As always, remember to Mortgage IntelligentlyTM
