Client Wins

Every week we share three stories about how homebuyers and homeowners are achieving their goals with AEM as their partner. Click below to read more.

A couple with a passion for horses fell in love with a newly remodeled home on five acres of land and knew it was meant for them. After reaching out to the listing agent multiple times to make an offer, they were met with silence. Frustrated, they turned their focus to their financing and began the process of getting pre-approved for a loan. With a foreclosure in their past, they knew they needed an experienced lender who could help ensure they would get the home. When they came to us, we went over their past credit history and determined they could qualify with a low down payment FHA loan. With a new sense of optimism, but still no word from the listing agent, we encouraged them to contact the real estate broker owner directly to make their move. They did, and we closed on the property within 30 days. With our support, they remained hopeful and are now grateful they didn’t pass on this once in a lifetime opportunity.

After learning they had two weeks until they would have to move out of their rental, a couple desperately started searching for a home to buy for their young family. Their Realtor found a property that met their budget, but the sellers wanted to close in just eight business days. They needed a lender with speed and efficiency so, having worked with us before, their Realtor gave us a call. From the moment we received their contract, we were off and running. We submitted their file that same day and ordered the appraisal and inspections on a rush. We closed on time and they were able to move out of their rental and straight into their new home – going from panicked renters to relieved homeowners all in one day.

First time home buyers had been saving for several years and thought it would be fast and easy to work with an online lender. But after finding the perfect home and getting their offer accepted, they hit a snag with the seller’s agent. She had some bad experiences with the online lender in the past and, not trusting they would get the deal done, requested the buyers find a local lender who was known for providing excellent service. So they came to us. With time ticking and no extensions given, our team worked around the clock to get the loan fully approved and closed within 30 days. The listing agent was impressed, and both the buyers and the sellers agreed that we’ve earned our good reputation.

We have a client who is a single mother of four and wants to get her life and finances back on track after going through a divorce. Her husband left her without any child support payments, so she went back to school to become a nurse. She has now graduated, but along with her diploma, she has collected a lot of debt. Now that she has landed a steady job at a VA hospital, she wants to buy a home for her family. Together, we’ve gone over various loan options and programs, and put together a specific plan to help her qualify for down payment assistance. She’s now working hard, paying off her debt, and couldn’t be more grateful for our help, knowledge and trust. In just a few months she’ll be financially ready to find the perfect home for her family.

A client came to us wanting to lower his mortgage payment, but was concerned about the home’s location. He had received conflicting information about whether or not it was in a flood zone, even though he had never been required to purchase flood insurance in the past. We told him we’d get to the bottom of it. Once we did some research, we found that the property maps were outdated and that the perimeters of the flood zone had been changed. His home was in the clear, but we needed to be able to prove it so that he could avoid paying up to $5,000 a year in flood insurance. We helped him through the Letter of Map Amendment process and moved forward with the refinance. In the end, we solved the mystery and reduced his rate by more than 2 percent – saving him hundreds each month and avoiding thousands in additional costs.

After years of renting, a young couple wanted to buy, but didn’t know where to start. Looking for ways to get educated on the process, they attended a first time buyer seminar that we were hosting. We got to chatting and learned that affordability was important to them, so we went over various financing options that could work for them. They chose to go with a special program that offered reduced mortgage insurance rates and a low 3% down payment. We worked quickly to get them pre-approved and kept in touch while they searched for their perfect home. It took over a year, but they finally found a great deal on a recently foreclosed home that aligned perfectly with their budget. We closed a month later and the homeowners walked away feeling like experts themselves!

Clients came to us looking for a simple refinance – they wanted to get out of the high interest rate and private mortgage insurance payment on their current loan. But when the appraisal came in, we learned they had not built up enough equity to completely eliminate their mortgage insurance. So we focused on a new strategy. We explained that by switching from a mortgage with a 30 year to a 15 year term, they could optimize their savings and pay off their home before they retire. With their new mortgage, they are now on track to save more than $130,000 in interest over the course of the loan. Plus, once their home is paid off, they’ll be able to net thousands during their last years of employment – adding a huge boost to their retirement savings and offering them a more comfortable future.

Newly married and ready to venture into homeownership, a couple came to us to looking for advice on how to make their offer stand out in a market with limited inventory, heavy competition, and rising prices. We had the answer. With their offer in hand, we called the listing agent personally to outline the buyers’ strengths, and how we could close in 21 days. Both the agent and the sellers were impressed, so while our clients’ offer was up against others that were much higher, theirs was chosen. We closed 21 days later as promised, and the celebration continues as the newlyweds toast to their new home!

The parents of a young buyer were heavily involved with their daughter’s first home purchase and encouraged her to use their local bank to get pre-approved. Shortly after she went into contract on a property with an 18 day close, her initial excitement quickly turned into fear when the bank told her they’d need at least 35 days to get it done. They recommended she pay all cash for the property and then do a cash out refinance later. Neither the client nor her parents wanted to liquidate funds, so the buyer’s Realtor stepped in and convinced them to have a conversation with us before losing hope. After talking through their situation and reviewing the buyer’s file, we knew we could meet the closing. We had the loan submitted, approved and closed within the short 18 day window – winning over both the buyer and her parents.

A self-employed borrower had been working with another lender to get pre-approved and received word his offer had been accepted for his home purchase. But after hearing the lender could only close in 30 days’ time, the client decided he wanted to move in sooner and was referred to us. We met with him and gathered all of his income, credit and asset documentation, and after reviewing it, we told him we could easily process his file in just a few short weeks. 9 business days later, in what seemed like the blink of an eye, our client was already in his new home relaxing, and was thrilled how quick, easy and pain-free the process was.

Even after shopping around and getting pre-approved by six different lenders, a client still didn’t feel confident that he was truly qualified as a borrower. He was already in contract and while his new construction home would not be complete for nearly seven more months, he had already invested time and money into the property, so he needed more assurance. Luckily, we had a perfect solution for him called Advance Approval. By gathering all of his documents upfront, instead of just pre-approving him, we submitted his file to one of our underwriters for a complete income and credit review. By completing this early on, it sped up the process for the future and gave him the confidence he needed upfront knowing he was more than pre-approved, but already approved!

Clients came to us after recently paying cash for the purchase and renovation of their home. Feeling depleted, they wanted to recover some of the outlay and were looking to do a cash-out refinance. But once we began working, we learned there was an old deed restriction in place by a state agency that wouldn’t allow a loan to be put on the property. We were determined to get it resolved and had several long meetings with the commission and its attorney. Our client was able to make necessary adjustments to the property and once we showed proof to the agency, we got the restriction lifted. Once in the clear, we used a specialized loan product that offered the borrower a 60% cash out refinance – providing peace of mind and a replenished bank account.

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