We’re excited to rejoice one other main achievement by Benjamin Kaziyev, a devoted Mortgage Mortgage Officer (MLO), who not too long ago closed a difficult mortgage for a borrower buying a co-op in Nice Neck, Lengthy Island.
This mortgage offered distinctive hurdles, because the borrower had no constant earnings, working numerous odd jobs paid in money. Conventional mortgage applications requiring tax returns and W-2s weren’t an possibility, making it troublesome to qualify by standard means.
To navigate this case, Benjamin leveraged the no-income mortgage program supplied by Quontic, a lender that gives a no-income possibility for co-ops. As an alternative of tax returns or W-2s, the workforce utilized the VOE (Verification of Employment) program, which solely requires a letter from the employer certifying the borrower’s employment standing.
Regardless of the fitting mortgage program, the method was not with out its challenges. The financial institution’s gradual processing and repeated lack of paperwork required the workforce to add every doc a median of 3 times. Nonetheless, Benjamin’s persistence and problem-solving expertise ensured that every little thing stayed on monitor, in the end securing mortgage approval.
This success highlights the significance of flexibility, experience, and dealing with lenders that provide artistic financing options for non-traditional debtors. Due to Benjamin’s dedication, this borrower was in a position to obtain homeownership, regardless of not becoming the standard lending profile.
Each borrower’s state of affairs is exclusive, and having a educated mortgage officer could make all of the distinction. Should you or somebody you recognize is struggling to qualify for a mortgage, attain out to Benjamin Kaziyev to discover tailor-made options that suit your wants.