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Deal Description:

The borrowers had been living in a house owned by one of the parents, because of some bruised credit and questionable income.


To complete the purchase of their existing home, with an affordable mortgage.


Previously, one was a student but presently, Both were well employed.


Their credit scores were decent, but the credit history of one showed a recent collection and she was on pregnancy leave.


The credit history and the fact that there was limited income history made qualification at stress rates difficult.

Final outcome:

We obtained a conventional first mortgage for 80% LTV at a contract rate a little over 2%., for a 5-year term, with a 25-year amortization.

Interesting Salad Dressing tonight:
To sour cream, add white horseradish, lemon juice, salt and pepper and a splash of Chili sauce.