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 received a call from one of our Realtor Partners to start the year who had a client that just had their offer
accepted. They had been pre-approved for a Jumbo loan with one of the Big Banks for the past 6 months but just found out that
with the recent rise in interest rates that they no longer qualified. The clients were told that because interest rates have gone up,
their new mortgage payment would increase and in turn push their debt to income ratio over the qualifying limit. The only solution
they were offered was to put an additional $50,000 down to reduce the payment and our Realtor Partner wanted to find out if that
was the only option.
SOLUTION: Solution: After speaking with the clients, reviewing their income as well as the new loan they were looking to obtain
we confirmed the calculations that they had received from the Big Bank. The standard qualifying debt to income ratio is 43% across
most Big Banks and the clients debt to income ratio was over that. We've built our investor relationships on the secondary market
specifically around the needs of the South Bay and have multiple Jumbo Investors that will allow over the standard Debt to Income
Ratio requirements. In turn we were able to step in, provide a solution and save our clients home purchase when they thought all
hope had been lost. In a rising rate environment it is extremely critical to have multiple options and the experience to use those
products. As a mortgage planning practice we're able to give our clients the confidence and solutions needed heading into 2022
where traditional lenders will fall short.
310.607.0131
