{"id":2551,"date":"2021-10-04T11:51:40","date_gmt":"2021-10-04T18:51:40","guid":{"rendered":"https:\/\/usezloan.com\/?p=2551"},"modified":"2023-11-14T13:19:25","modified_gmt":"2023-11-14T21:19:25","slug":"case2","status":"publish","type":"post","link":"https:\/\/usezloan.com\/index.php\/2021\/10\/04\/case2\/","title":{"rendered":"Case 2"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div class=\"wp-block-group cs-step cs-client is-layout-flow wp-block-group-is-layout-flow shade\">\n<div class=\"wp-block-group__inner-container\">\n<h3 id=\"the-client\" class=\"wp-block-heading\"><strong>The Client<\/strong><\/h3>\n<p><strong>Our client was relocating to a new city and was looking for a home big enough for his family that was within his monthly budget.<\/strong><\/p>\n<ul>\n<li><strong>Loan Type\u00a0\u2013 Condo Purchase<\/strong><\/li>\n<li><strong>Program\u00a0\u2013 Conventional Home Possible 3%<\/strong><\/li>\n<li><strong>Sales Price\u00a0\u2013 $199,220<\/strong><\/li>\n<li><strong>Rate\u00a0\u2013 4.875%<\/strong><\/li>\n<li><strong>Required Down Payment\u00a0\u2013 3% ($5,977)<\/strong><\/li>\n<li><strong>Payment\u00a0\u2013\u00a0$1,808<\/strong><\/li>\n<\/ul>\n<h3 id=\"client-requirement\" class=\"wp-block-heading\"><strong>Client Requirement<\/strong><\/h3>\n<p><strong>The client\u00a0relocated from California to metro Atlanta and needed to purchase a condo big enough for his growing family.\u00a0The client\u00a0was adamant about putting down as little as possible, but needed to maintain a payment within his budget.\u00a0The other main\u00a0requirement\u00a0was being able to purchase something at the high end of his budget.\u00a0He wanted to make sure the home would be in the right area for future resale or rental opportunity.<\/strong><\/p>\n<h3 id=\"loan-challenges\" class=\"wp-block-heading\"><strong>Loan Challenges<\/strong><\/h3>\n<p><strong>The\u00a0main\u00a0challenge here was to find a program that\u00a0would allow for a\u00a0conventional loan since it was a condo, low-down\u00a0payment\u00a0and reduced mortgage insurance. Staying under a specific amount for a monthly mortgage budget was key for this client.<\/strong><\/p>\n<\/div>\n<p><strong>The Challenges<\/strong><\/p>\n<ul>\n<li><strong>Needed a conventional program that would allow a low down payment.<\/strong><\/li>\n<li><strong>Reduced mortgage insurance a plus to keep payment low.<\/strong><\/li>\n<li><strong>Must stay under a certain amount per month on mortgage payment.<\/strong><\/li>\n<\/ul>\n<h3 id=\"our-solution\" class=\"wp-block-heading\"><strong>Our Solution<\/strong><\/h3>\n<p><strong>We researched all 26 lenders and banks that we work with and found a perfect program that checked all the boxes. The program was the\u00a0Freddie Mac 3% Home Possible program\u00a0for first time home buyers. It offers a low-down payment, reduced mortgage insurance and offers competitive rates, especially on a condo purchase.<\/strong><\/p>\n<\/div>\n<div class=\"wp-block-group cs-step cs-results is-layout-flow wp-block-group-is-layout-flow shade\">\n<div class=\"wp-block-group__inner-container\">\n<h3 id=\"the-results\" class=\"wp-block-heading\"><strong>The Results<\/strong><\/h3>\n<p><strong>We were able to secure financing for an amazing condo, in the right zip code, for just the right price.\u00a0We were able to get the client approved fast and had their loan closed within 28\u00a0days.<\/strong><\/p>\n<ul>\n<li><strong>We found a loan program that catered to a low down payment\u00a0as well as flexible guidelines to\u00a0help our client get the home they wanted.<\/strong><\/li>\n<li><strong>Client was able to purchase their\u00a0new condo\u00a0in less than a month.<\/strong><\/li>\n<li><strong>The monthly payment\u00a0ended up being exactly what they expected.<\/strong><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The Client Our client was relocating to a new city and was looking for a home big enough for his family that was within his monthly budget. Loan Type\u00a0\u2013 Condo Purchase Program\u00a0\u2013 Conventional Home Possible 3% Sales Price\u00a0\u2013 $199,220 Rate\u00a0\u2013 4.875% Required Down Payment\u00a0\u2013 3% ($5,977) Payment\u00a0\u2013\u00a0$1,808 Client Requirement The client\u00a0relocated from California to [&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-2551","post","type-post","status-publish","format-standard","hentry","category-loan-case"],"_links":{"self":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2551","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=2551"}],"version-history":[{"count":5,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2551\/revisions"}],"predecessor-version":[{"id":3583,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/posts\/2551\/revisions\/3583"}],"wp:attachment":[{"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/media?parent=2551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/categories?post=2551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usezloan.com\/index.php\/wp-json\/wp\/v2\/tags?post=2551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}