Successful tech professional and mother of 2 children with her hands in too many pots… sound familiar? This lady has worked for some of the top innovative and highly competitive companies in the world, working her way up, and on top of that started her own online clothing store. She went from making 80k, to 120k to 250k and now 500k. Easy to get her a loan right? Not so fast; she also writes off the losses from building the company and getting outside investors to the tune of $400,000. She also is so busy that she let a couple of credit card payments slip past the 30 day late period, so her credit score went from 700 to 613. Yikes. Well her credit union turned her down for the side business company losses or told her she could get a loan of $300,000 but she is looking at $1million dollar homes in good neighborhoods for her children. She was in escrow for a house that was $1,100,000 and of course had to back out when the loan fell through.

Her agent told her to give me a call. “What do you have to lose?”

Well, I have a solution: a loan program that only asks for paystubs and W2s, if you are salaried, and will take a 613 credit score. The rate is a little high but not as high as hard money. We were able to get her a loan of $900,000 on a 1,300,000 house. She is now in escrow to buy a nice home for her family in the West High part of Torrance with great schools, nice yard and the peace of mind that she won’t have to move for quite a while. Sometimes losing temporarily means winning for the long run.