Commission Rescued in 14 days with MCF Mortgage
MCF TO THE RESCUE
Location: Winston-Salem, North Carolina
Property Type: Primary Residence
Loan Type: Home Purchase
Purchase Price: $290,000.00
$ Rescued Commission: $14,500.00
The Problem:- Homebuyers followed all the rules and provided their lender at “America’s” Bank with all the requested documents.
- A pre-approval letter was issued to this family. They negotiated and got under contract based on the bank’s approval letter.
- Two weeks into the transaction the bank tells them they are NOT approved.
- This was a nasty wake-up call as they had trusted their bank! But banks don’t know how to work with self-employed borrowers who use the tax code to their advantage!
The Solution:- At MCF Mortgage, we embrace entrepreneurship! After speaking to our REALTOR® partner we called all the parties (yes, the sellers too) and we assured the anxious buyers and sellers that we would still meet their closing date.
- We closed the loan in 14 days and rescued our REALTOR® partners’ well-deserved commission of $14,500.00.
As always, remember to Mortgage IntelligentlyTM
$309K Cash Out Rescued for our Mortgage Broker Partner
