Loan Amount: $6,146,900.00
Loan Type: Super Jumbo
Our client wanted to purchase a new construction condominium in Longboat Key, FL at a St. Regis property for $8.2M. We obtained 75% LTV, which most banks can’t offer for super jumbo loans of this size.
Loan Amount: $5,800,000.00
Loan Type: Super Jumbo
Securing super jumbo financing with both a high loan amount and high loan-to-value can be challenging. For our client’s purchase of a new home in Malibu, CA, we structured an approval for nearly $6 million at 80% LTV despite wildfire exposure considerations.
Loan Amount: $4,960,000.00
Loan Type: Super Jumbo
Our client, a self-employed surgeon, was under contract to buy a $6.2M home in Laguna Beach, CA. His bank capped his loan amount at $3M. Our lender provided him with nearly $2M more at 80% LTV.
Loan Amount: $4,290,000.00
Loan Type: Super Jumbo
Our client, a CEO of a family-owned company, was under contract to purchase a $6.6M home in West Palm Beach, FL. His tax returns didn’t show sufficient income, so we used 12 months of his business bank statements instead.
Loan Amount: $3,737,500.00
Loan Type: Super Jumbo
Despite a low credit score, our client was approved on an exception basis for a super jumbo purchase in Miami, FL after a detailed review of strong bank statement cash flow and additional compensating strengths. The file was cleared to close in less than three weeks.
Loan Amount: $2,100,000.00
Loan Type: Foreign National
Our client, a foreign national from Venezuela, needed to refinance their investment property in the Jade Signature in Sunny Isles Beach, FL. Traditional lenders don’t lend to borrowers from countries perceived as risky. Our lender had the risk appetite to close the loan.
Loan Amount: $1,425,000.00
Loan Type: No Ratio
After an online lender denied his application due to high DTI, our client obtained a jumbo loan through the no-ratio program and closed on time on his new home in Sarasota, FL despite an expired contingency.
Loan Amount: $1,320,000.00
Loan Type: No Ratio
With one spouse on furlough, our clients’ DTI was too high for traditional refinancing. Through the no-ratio program, we successfully refinanced their private construction loan on their dream home in Old Town Key West, FL.
Loan Amount: $1,280,000.00
Loan Type: No Ratio
Our client, a seasoned CPA, had low reported income and didn’t qualify for a traditional loan. A no-ratio mortgage was his alternative path to approval to close on his new home in the luxurious master-planned community, Lakewood Ranch, FL.
Loan Amount: $1,104,000.00
Loan Type: No Ratio
With a bridge loan on her primary residence in Miami, FL about to mature, our client (a seasoned real estate investor) needed to refinance quickly. The no-ratio program allowed her to refinance without having to provide a single tax return.
Loan Amount: $525,850.00
Loan Type: No Ratio
Our client recently left a major law firm to start his own practice. He wanted to pull cash out from his home in Lake Worth Beach, FL. Without sufficient self-employment history, he was denied by a traditional lender. We helped him through the no-ratio mortgage program.
Loan Amount: $1,750,000.00
Loan Type: Assets as Income
Our client, a self-employed owner of various businesses, wanted to pull cash from his home in Lighthouse Point, FL, but he could not show adequate income through his tax returns. Instead, we qualified him using a single statement from his savings account.
Loan Amount: $2,020,000.00
Loan Type: Non-Warrantable Condo
Our client, a green card holder from Argentina, was denied by another lender because the new construction condominium project was less than 50% occupied. Our lender granted an exception and closed the loan.
Loan Amount: $2,000,000.00
Loan Type: Non-Warrantable Condo
The condominium that our client wanted to buy was particularly challenging because the association had zero reserves in their budget. We secured an 80% jumbo loan despite that hurdle.
Loan Amount: $1,900,000.00
Loan Type: Construction
Our client purchased a parcel of land and was running out of funds for the ground-up construction. We obtained a construction bridge loan for him to finish the project.
Loan Amount: $1,755,000.00
Loan Type: Foreign National
Our client, a foreign national from the U.K. needed a cash-out refinance on his short-term rental property in a popular resort area in Florida. We qualified him via a CPA income letter; no tax returns were required.
Loan Amount: $1,750,000.00
Loan Type: Asset Utilization
Our client was self-employed and couldn’t show adequate income through his tax returns or business bank statements. Instead, we qualified him through his $2.5M savings account. The lender used those funds as “income” to calculate his debt-to-income ratio.
Loan Amount: $1,550,000.00
Loan Type: Foreign National
Our client, a foreign national from Spain, was denied by his bank due to inadequate assets. We stepped in with a bridge loan and closed in only 4 days to meet the purchase contract deadline.
Loan Amount: $1,445,000.00
Loan Type: Bridge
Our client, an experienced fix-and-flip investor, needed to renovate a single-family home but was facing delays in the city’s permitting process. We provided him with a short-term bridge loan to get his project back on track.
Loan Amount: $1,350,000.00
Loan Type: Bridge
Our client, a doctor, was under contract to purchase a beach home, but he had a derogatory account on his credit report. We closed him with a bridge lender that did not take into consideration his negative credit history.
Loan Amount: $1,025,000.00
Loan Type: Bridge
As part of her divorce, our client needed a cash-out refinance on her and her ex-husband’s short-term rental property in New Jersey. Despite a history of late mortgage payments, we found a bridge lender to close her loan.
Loan Amount: $925,000.00
Loan Type: Bridge
Our client, a neurosurgeon, needed a loan to purchase a ski home in Utah, but his bank denied him because he recently switched from a W2 employee to self-employed. We obtained a bridge loan to allow him to meet his closing deadline.
Loan Amount: $871,000.00
Loan Type: Bridge
Our client, a foreign national from the U.K., ran out of funds for his renovation project on his Miami Beach, FL property. We provided him with a short-term bridge loan to give him the proceeds needed to finish the renovation.
Loan Amount: $825,000.00
Loan Type: DSCR Loan
Our client wanted to pull cash from her investment property condominium in New York City. We qualified her solely on the cash flow of the property. Under the DSCR program, the borrower’s income and employment are not factors.
Loan Amount: $725,000.00
Loan Type: Doctor
Our client, a doctor with an O-1 visa from Mexico, was under contract to purchase a non-warrantable condo. Under the doctor program, we obtained 90% LTV, despite the condo’s construction defect litigation.
DAK Mortgage is a licensed mortgage broker that can navigate you through the process of finding the right loan for your needs.
