{"id":2539,"date":"2021-10-04T11:38:11","date_gmt":"2021-10-04T18:38:11","guid":{"rendered":"https:\/\/usezloan.com\/?p=2539"},"modified":"2023-11-13T14:00:00","modified_gmt":"2023-11-13T22:00:00","slug":"1-case","status":"publish","type":"post","link":"https:\/\/usezloan.com\/index.php\/2021\/10\/04\/1-case\/","title":{"rendered":"Case 1"},"content":{"rendered":"<h3>Case 1<\/h3>\n<h3 id=\"the-client\" class=\"wp-block-heading\">The Client<\/h3>\n<p>Our client came to us wanting to purchase an investment property.<\/p>\n<ul>\n<li><strong>Loan Type<\/strong>\u00a0\u2013 Purchase<\/li>\n<li><strong>Program<\/strong>\u00a0\u2013\u00a0Conventional Investment<\/li>\n<li><strong>Sales Price<\/strong>\u00a0\u2013\u00a0$235,000<\/li>\n<li><strong>Required Down Payment<\/strong>\u00a0\u2013 20%\u00a0<em>($47,000)<\/em><\/li>\n<li><strong>Monthly Payment\u00a0<\/strong>\u2013 $1,267<\/li>\n<li><strong>Estimated Rent<\/strong>\u00a0\u2013\u00a0$1,700<\/li>\n<li><strong>Cashflow<\/strong>\u00a0\u2013 $433<\/li>\n<\/ul>\n<h3 id=\"client-requirement\" class=\"wp-block-heading\">Client Requirement<\/h3>\n<p>The client\u00a0wants to buy an income-producing investment property\u00a0to start building a property portfolio. The mortgage payment needed to be low enough so that each month\u2019s cashflow would cover the mortgage and still leave some profit. That way,\u00a0funds can be\u00a0saved\u00a0for repairs\/maintenance, property management fees, and to account for possible, future vacancies.\u00a0The client\u00a0was comfortable putting down\u00a0the required 20% on an investment property.<\/p>\n<p>&nbsp;<\/p>\n<h3 id=\"loan-challenges\" class=\"wp-block-heading\">Loan Challenges<\/h3>\n<p>The main obstacle that popped up was the home inspection. The inspector found several issues that he recommended getting repaired. These concerns needed to be addresses so the\u00a0<a href=\"https:\/\/moreirateam.com\/usda-home-loan-requirements-and-rates-2021\/\">loan could pass underwriting requirements<\/a>\u00a0prior to closing.<\/p>\n<p><strong>The Challenges<\/strong><\/p>\n<ul>\n<li>Updates and repairs needed after the home inspection was complete.<\/li>\n<li>We need to find a solution for our client to get the home inspection concerns addressed before they could close on the loan.<\/li>\n<li>Find a program and rate that allowed the client to pay the mortgage and make a profit each month.<\/li>\n<\/ul>\n<h3 id=\"our-solution\" class=\"wp-block-heading\">Our Solution<\/h3>\n<p>Our team and the buyer\u2019s agent decided on a smart strategy; negotiate\u00a0with the seller\u2019s agent\u00a0to make sure all repairs that the underwriter needed\u00a0were completed prior to closing.\u00a0In addition we were able to help get the client additional seller contributions towards his closing costs. Those additional contributions were used\u00a0for the remaining repairs that were not required to close.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wp-block-group cs-step cs-results is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h3 id=\"the-results\" class=\"wp-block-heading\">The Results<\/h3>\n<p>By putting down 20%, we were able to find the client a great program with a low rate. This made the investment deal make sense for the client. Even with the concerns regarding the inspection, our team was able to come up with a solution that everyone was happy with and the deal closed in just 19 days!<\/p>\n<ul>\n<li>Client was able to purchase\u00a0a positive, cash flowing investment property to add to their existing portfolio.<\/li>\n<li>The\u00a0low rate we secured allowed the deal to make sense.<\/li>\n<li>The loan closed in 19 days from contract date.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><span class=\"cta-btn-holder left\"><button class=\"button anim orange\" data-form=\"purch\">Get Your Mortgage<\/button><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Case 1 The Client Our client came to us wanting to purchase an investment property. Loan Type\u00a0\u2013 Purchase Program\u00a0\u2013\u00a0Conventional Investment Sales Price\u00a0\u2013\u00a0$235,000 Required Down Payment\u00a0\u2013 20%\u00a0($47,000) Monthly Payment\u00a0\u2013 $1,267 Estimated Rent\u00a0\u2013\u00a0$1,700 Cashflow\u00a0\u2013 $433 Client Requirement The client\u00a0wants to buy an income-producing investment property\u00a0to start building a property portfolio. The mortgage payment needed to be low [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-2539","post","type-post","status-publish","format-standard","hentry","category-loan-case"],"_links":{"self":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/comments?post=2539"}],"version-history":[{"count":6,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2539\/revisions"}],"predecessor-version":[{"id":3576,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2539\/revisions\/3576"}],"wp:attachment":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/media?parent=2539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/categories?post=2539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/tags?post=2539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}