SOUTH BAY DIGS | Digital Edition Online

October 30, 2020

DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.

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Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Some restrictions may apply. Based on the purchase/refinance of a primary residence. Credit and collateral subject to approval. Loan to value, debt to income and cash-out restrictions may apply. Programs, rates, terms and conditions subject to change without notice. Please remember that we don't have all your information, so this does not constitute a commitment to lend. Therefore, the rate and payment results may not reflect your actual situation. To get more accurate and personalized results, please call (800) 357-4077 to talk to one of our mortgage bankers. Watermark Home Loans 100 Spectrum Center Dr Ste 150, Irvine, CA 92618-4964 DRE License Number 01523306 NMLS ID: 1838 Regan Hagestad: NMLS 57351 Matthew Disalvo NMLS 1416809 RECENT LOAN SUCCESS STORY CHALLENGE: We recently received a phone call from a client who was referred over to us by one of our Wealth Advisory Partners and he was having trouble with his refinance. He had been declined or told that the product wasn't available by 3 other lenders and he had kind of lost hope. After listening to his situation our client has been a physician for over 30 years and has owned his own practice for most of that time. He recently sold his practice but had taken a full time position with a hospital that he knows very well. He was looking to get roughly $200,000 cash out of his home and he'd been told that because of his recent income change as well as wanting cash out that he could not secure a Jumbo loan. SOLUTION: After getting more details about his employment change as well as researching his home's value and equity position we were able to utilize our relationships with portfolio investors on the secondary market to find a solution. We were able to secure a cash out refinance up to 80% of his appraised value which allowed him to access the equity that he was looking for, while also not sacrificing on the interest rate or terms. Post-Covid many of the larger banks have tightened restrictions or removed Jumbo loan products making it more difficult for clients to obtain financing. With our strong relationships on the secondary market and multiple investor options we were able to achieve his ultimate goal of refinancing when other lenders told him there was no hope. 310.607.0131

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