We are delighted to celebrate another major achievement of dedicated mortgage official Benjamin Kaziyev, who recently bought a borrower on Great Island, who recently closed a challenging deal loan.
This loan presents unique barriers as borrowers do not have consistent income to pay various odd jobs in cash. Traditional loan plans requiring tax returns and W-2 are not an option, so it is difficult to qualify through conventional means.
To cope with this situation, Benjamin took advantage of the income-free loan program offered by Quontic, which provided the cooperative’s lender. Instead of a tax return or W-2, the team utilizes the VOE (Employment Verification) program, which only requires letters from the employer to prove the borrower’s employment status.
Despite the right loan plan, the process is not without its challenges. The bank’s slow processing and duplicate file loss require the team to upload each file on average 3 times. But Benjamin’s perseverance and problem-solving skills ensured everything was on track, ultimately ensuring the approval of the loan.
This success underlines the importance of flexibility, expertise, and working with lenders that provide creative financing solutions for non-traditional borrowers. Thanks to Benjamin’s dedication, the borrower was able to achieve ownership of the home despite not being suitable for typical loan materials.
Every borrower’s situation is unique, and having a knowledgeable loan officer can make everything unique. If you or someone you know is working to qualify for a loan, contact Benjamin Kaziyev to explore tailor-made solutions that suit your needs.
