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Case studies

Real scenarios we’ve closed

Anonymized borrower scenarios from closed conventional, FHA, VA, and non-QM loans. Numbers are real but borrower details have been removed. If your situation looks similar, the same product and similar terms are likely available for you.

Low FICO

FHA Purchase After Chapter 7 with 605 FICO

Closed in

33 days

W-2 borrower 24 months past Chapter 7 discharge with rebuilt credit at 605 FICO. Conventional was out; multiple FHA lenders rejected on overlay.

Market

Detroit metro, MI

Loan amount

$215,000

LTV

96.5%

FICO tier

605 (FHA min 580)

Challenge: Most FHA lenders set internal FICO floors at 620 or 640. The borrower met FHA's 580 requirement but kept hitting overlay rejections.

Solution: Routed to an overlay-free FHA lender in the wholesale network that accepts 580+ consistently. Paid down a $446/mo auto loan first to bring DTI to 48% (under FHA 50% max).

Outcome: $215K loan at 96.5% LTV, FHA 30-year fixed, closed in 33 days. Seller paid 3% concession toward closing costs.

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Self-Employed

Self-Employed Austin Buyer Qualifying on Bank Statements

Closed in

25 days

Restaurant owner with high gross receipts and aggressive tax write-offs. Tax returns showed $42K net income; bank deposits averaged $14K/mo.

Market

Austin, TX

Loan amount

$475,000

LTV

85%

FICO tier

740+

Challenge: Conventional underwriting on tax returns would have qualified the borrower for at most a $185K loan. Target home was $550K.

Solution: 24-month bank-statement program using 100% of personal deposits and 50% of business deposits. Qualifying monthly income calculated at $12,500, supporting the $475K loan.

Outcome: $475K loan at 85% LTV, 30-year fixed non-QM, closed in 25 days. Rate ~0.625% above conventional but qualification was achievable.

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VA Refinance

VA IRRRL Refinance Saving $370/mo with Zero Out of Pocket

Closed in

18 days

Active-duty servicemember with a 7.25% VA loan from 2 years ago. Current VA rates at 6.5%, eligible for VA IRRRL streamline.

Market

Jacksonville, FL

Loan amount

$384,000

LTV

Refinance

FICO tier

N/A (IRRRL streamline)

Challenge: Active-duty borrower had limited cash for closing costs and time for full re-underwriting. Standard VA refi would have required full income/asset verification.

Solution: VA IRRRL streamline: no appraisal, no income verification, no credit re-pull. Closing costs rolled into the new loan (still saves $370/mo). VA funding fee waived for current servicemember with 10% disability rating.

Outcome: $384K refinanced at 6.5%, payment dropped $370/mo, zero cash to close. Closed in 18 days.

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First-Time Buyer

First-Time Buyer Stacking FHA + DPA in Phoenix

Closed in

38 days

Two W-2 borrowers, both first-time buyers, $87K combined income. Couldn't save the down payment quickly enough as prices kept rising.

Market

Phoenix, AZ

Loan amount

$325,000

LTV

96.5%

FICO tier

700+

Challenge: Borrowers had $4K in savings and needed roughly $15K for 3.5% FHA down payment + closing costs on a $337K home.

Solution: FHA 3.5% down stacked with Arizona Home in 5 DPA program providing 5% of the loan amount as a 0% interest second lien, forgiven after 3 years of owner-occupancy. Seller credit (3%) absorbed remaining closing costs.

Outcome: $325K FHA + $16K DPA second lien = $341K total financing on $337K purchase. Borrowers came to closing with $1,200 out of pocket.

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Gift of Equity

Gift-of-Equity: Buying Parents' House at Half Value

Closed in

28 days

Parents wanted to sell their $500K Michigan home to their adult son at $250K so they could downsize. Son needed conventional financing on the $250K balance.

Market

Grand Rapids, MI

Loan amount

$250,000

LTV

50%

FICO tier

760+

Challenge: Lender needed to confirm the $250K equity gift was real and not a sham transaction (which could trigger IRS scrutiny on parents).

Solution: Arms-length appraisal at $500K market value, signed gift-of-equity letter from both parents, purchase contract at $250K. Parents filed IRS Form 709 to report the gift against lifetime exemption (no tax owed below $13.61M lifetime limit).

Outcome: $250K conventional 30-year fixed at 50% LTV. No PMI required at 50% LTV. Closed in 28 days. Parents now downsizing.

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Asset-Qualifying

Retiree Buying Florida Second Home with Asset Depletion

Closed in

26 days

Recently-retired borrower with $1.2M in brokerage and IRA accounts but only $36K/year in current SS + pension income. Traditional DTI math wouldn't qualify.

Market

Sarasota, FL

Loan amount

$425,000

LTV

75%

FICO tier

760+

Challenge: $3K/mo retirement income wouldn't cover the $2,800/mo PITI + DTI requirements on a $565K Florida second home using conventional underwriting.

Solution: Asset-qualifying program: $1.2M in eligible assets (brokerage at 80%, IRA at 70%) = $912K usable / 60 months = $15,200 qualifying monthly income. Combined with $3K retirement income = $18,200/mo qualifying.

Outcome: $425K loan at 75% LTV, 30-year fixed non-QM, closed in 26 days. Rate ~0.5% above conventional but qualification was clean.

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Fixer-Upper

FHA 203(k) Renovation Purchase in Boston Metro

Closed in

51 days

Buyer found a $325K FSBO that needed $48K in major repairs (roof, electrical panel, plumbing). Property was below livability standard, blocking standard financing.

Market

Worcester, MA

Loan amount

$360,000

LTV

96.5%

FICO tier

680+

Challenge: Standard FHA / conventional wouldn't finance a property below habitability. Cash for purchase + rehab was $375K total, way out of reach.

Solution: Standard FHA 203(k) Renovation Loan rolling $325K purchase + $48K rehab = $373K total into one mortgage. HUD-approved consultant ($650), licensed GC bid with 6-month rehab timeline, draws against completed work.

Outcome: $360K total FHA 203(k) loan at 96.5% LTV (after small borrower cash), 3.5% down + closing costs. Rehab completed in 5.5 months. Final ARV at $475K.

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Jumbo

Bay Area High-Balance Jumbo Refinance

Closed in

32 days

Existing $1.05M mortgage in San Jose at 7.125%. Current high-balance conforming limit covers up to $1,249,125 in this county; refi at current rate would save $475/mo.

Market

San Jose, CA

Loan amount

$1,050,000

LTV

65%

FICO tier

780+

Challenge: Borrower assumed they'd be in jumbo non-QM territory at $1M+, expecting 0.5%+ rate premium over conforming.

Solution: Santa Clara County is a high-cost area with the $1,249,125 high-balance conforming limit. The $1.05M loan qualifies for Fannie/Freddie high-balance pricing, not true jumbo - rate ~0.25% lower than borrower expected.

Outcome: $1.05M refinanced at 6.5% high-balance conforming 30-year fixed. Monthly payment dropped $475. Closed in 32 days.

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