HomeMortgageJulia Knurova Makes use of Her Non-QM Information To Assist an Investor...

Julia Knurova Makes use of Her Non-QM Information To Assist an Investor Succeed


Julia Knurova is relentless on the mortgage desk, and she or he once more proved her tenacity by serving to a shopper shut on a mortgage that many lenders wouldn’t think about. This mortgage required an MLO with ingenuity and drive, two traits that make Julia a frontrunner within the mortgage trade.

The Fundamentals 

Julia’s shopper was a self-employed investor who was searching for a cashout refinance. The shopper deliberate to make use of their acquired fairness for one more funding.

The property that the shopper wished to refinance was a condotel in Palm Coast, Florida. The condotel didn’t embody a full kitchen, however that wasn’t the one barrier Julia and her shopper have been up in opposition to.

The Limitations

Along with the shortage of a full kitchen, litigation was additionally concerned within the transaction. The owners affiliation was dealing with a present lawsuit and was unwilling to supply pertinent particulars on its standing. As well as, the HOA refused to supply info relating to the constructing’s rental earnings and wouldn’t focus on earlier damages.

The Resolution

To make this cashout refinance occur for her shopper, Julia approached A&D Mortgage, a non-QM lender, to request a DSCR mortgage. She selected this lender primarily based on their potential to contemplate the a number of exceptions they would wish for approval. Here’s a checklist of exceptions that wanted to be addressed:

  • A low DSCR ratio
  • Present HOA litigation
  • Free price extension on lock
  • No hire comparability schedule on appraisal
  • No full-sized kitchen within the unit

Julia approached A&D’s account supervisor instantly to debate these exceptions and alternate types of documentation that will make the mortgage occur.

At MortgageDepot, our job isn’t over till we enable you get the financing you want. Contact us at this time to search out your path to actual property success!

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