When one bank says no another says yes. This week we had the very bad news that if one of our investors pulls credit after we pull credit, they are the only ones. And because of this, our client’s credit score went from qualifying at 724 mid score to no longer qualifying at 719.

With this couple’s interest only loan going to principal and interest in October (and the monthly mortgage payment jumping $1500 per month), we had to find another solution. So we switched to another lender who accepted our credit report, and were able to lock in an even better interest rate before rates went up yesterday.

Now we can close and help this couple stay in their home. This flexibility to fund the loan ourselves or broker to a bank that has a special program has saved so many people heartache that after 26 years of doing this, I can tell you that being independent, as opposed to working for a bank directly, has made this career of helping people the best it can be.