Derek McGowan shares four client wins: a cash-out refi in 90 days instead of six months, approval at 560 credit score when competitors wanted 580, a bigger loan by counting a co-borrower's second job, and a veteran's 100% cash-out when others capped it at 90%.
We had a real estate investor come to us the other day that was trying to make the numbers work on a property they had just purchased and fixed up. They're trying to do a cash-out refi to pull the equity out of that property to go buy the next one. The other lender they were working with was going to make them wait 6 months before they could pull the equity out. We did it at the 90th day, the 3-month mark. That made the deal work. We had another family come to us that had to be out of their lease in the next couple months and a 560 credit score. The other local lender they were working with said they got to get to 580. No way around it. We were able to get them qualified at 560. They got their offer accepted this morning. We had another family come to us that was initially approved at $285,000 with another lender needed a little bit more for the price range they were looking for, the school district they wanted to be in for their kids. We dove into it. I noticed that the, the co-borrower had a second job income the other lender had overlooked. We engaged that income, we got them to $325,000. That got them in the price range that they needed. We had a veteran come to us last week that was needing to get cash out of the equity of their home, and the other lender stopped at 90% loan to value. We were able to go to 100% loan to value, get the whole equity out of the person's house. That saved the day for that veteran. Seeing this day in, day out, you can understand why we like getting a second Look and a second opinion because we have so many options. That's the McGowan Mortgage difference.
