Loan Amount: $6,146,900.00
Loan Type: Super Jumbo
Our client was under contract to purchase a new construction condominium in a St. Regis property for $8.2M and he needed the highest loan amount possible. We obtained 75% LTV, which most banks can’t offer for super jumbo loans of this size.
Loan Amount: $4,960,000.00
Loan Type: Super Jumbo
Our client, a plastic 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: $2,318,000.00
Loan Type: Rental Portfolio
Through a single loan known as a rental portfolio loan, our client did a cash-out refinance on his portfolio of 12 rental investment properties in Florida at once. He now makes one single monthly mortgage payment for all 12 properties.
Loan Amount: $2,295,000.00
Loan Type: Jumbo
Our client was under contract to purchase a luxury condo, but his ongoing divorce and complicated tax returns (over 1,300 pages) led to a bank denial. We found him an alternative lender that was able to underwrite his complex income streams.
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. Traditional lenders don’t lend to borrowers from countries perceived as risky. Our lender had the risk appetite to close the loan.
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: $1,320,000.00
Loan Type: No Ratio
Our clients, a self-employed married couple, needed a cash-out refinance on their primary residence in Key West, FL to finish major renovations. Due to their high debt-to-income ratios, we closed them under the No-Ratio program, where the DTI ratio is not a factor.
Loan Amount: $1,275,000.00
Loan Type: Bank Statement
Our client, a self-employed owner of various businesses, wanted to pull cash from his home, but he could not show adequate income through his tax returns. Instead, we qualified him through his business bank statements.
Loan Amount: $1,165,500.00
Loan Type: Jumbo
Our client needed a loan to purchase a new home, but he was running into stumbling blocks due to an outstanding IRS tax lien. We connected him with a flexible lender that accepted the situation with a thorough letter of explanation.
Loan Amount: $1,104,000.00
Loan Type: No Ratio
Under the No-Ratio program, our client did not have to provide any proof of income or employment, and she was able to pull 6 figures in cash-out proceeds from her primary residence. Only a handful of lenders offer this innovative program.
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.
