Mortgage Success Story – SF

Mortgage Success Story
Client Profile:
Tech Industry Veteran – W2 Employee and owner of multiple investment properties
Investment Property Purchase
Location: Bay Area California
Date Closed: Fall 2024
Loan Amount: $900,000
Loan-to-Value (LTV): 75%
Program Type: Conventional Loan
Challenges:
Debt to Income Raio too high – Despite high W2 income, reported negative income on borrower’s rental properties pushed DTI beyond acceptable levels
Minimal down payment: Non QM loans were not an option as borrower wanted to maximize leverage with as little down payment as possible
Quick Turnaround: Listing agent required buyer to apply with her two lenders first (one retail bank and one mortgage broker, both who could not do the loan); we received the loan late in the timeline
Solution:
RSU Income – used vested RSU’s to supplement income and timed 200 day moving average of stock price to maximize value of RSU qualification
Subject Property Rental Income – worked closely with AMC, that has GMCC at top preferred status, to have appraiser credit us with accurate rental income accounting for property’s unique attributes
Installment Loan Paydown – to minimize cash to close, chose one installment loan to paydown to 10 remaining payments to remove liability from DTI calculations rather than payoff other liabilities in full
Outcome:
Borrower was able to obtain property with a conventional loan and keep down payment low
GMCC’s excellent loan terms allowed property to immediately be cash flow positive
Borrower is extremely thankful, especially when other lenders could not do the loan