We’re excited to rejoice one other main achievement by Benjamin Kaziyev, a devoted Mortgage Mortgage Officer (MLO), who lately 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 revenue, 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 via standard means.
To navigate this case, Benjamin leveraged the no-income mortgage program provided by Quontic, a lender that gives a no-income possibility for co-ops. As a substitute of tax returns or W-2s, the group 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 group to add every doc a mean of thrice. Nonetheless, Benjamin’s persistence and problem-solving abilities ensured that all the things stayed on observe, finally securing mortgage approval.
This success highlights the significance of flexibility, experience, and dealing with lenders that provide inventive financing options for non-traditional debtors. Because of Benjamin’s dedication, this borrower was in a position to obtain homeownership, regardless of not becoming the everyday lending profile.
Each borrower’s scenario is exclusive, and having a educated mortgage officer could make all of the distinction. In the event you or somebody you realize is struggling to qualify for a mortgage, attain out to Benjamin Kaziyev to discover tailor-made options that suit your wants.