Success stories
Closed a purchase with USDA, MCC Tax Credit, & even escrowed for repairs!
Wednesday, 09 January 2013 21:51
We just closed a USDA mortgage which provided 100% financing on the purchase. Not only that, the buyer qualified for NC Housing Finance Agency's MCC tax credit which is available to first time homebuyers (buyers who have not owned a residence in the last 3 years). Then the appraiser required certain...
READ MOREMortgage Daily Reports PrimeLending Q3 Originations Up By 25 Percent
Monday, 19 November 2012 17:27
Online news publication Mortgage Daily recently reported PrimeLending’s third quarter residential loan originations were up 25 percent at $3.885 billion, the result of more than 18,000 loans. So far in 2012, PrimeLending home loan originations total more than $9.7 billion. “Through the hard wo...
READ MOREPrimeLending does what it takes to be the best underwriting and closing department in the world!
Monday, 25 June 2012 17:42
To make sure we do all that can be done to keep up with the record setting mortgage loan volume, PrimeLending underwriters have underwritten 563 loans over the weekend! Now that is a true commitment to making our mortgage process the best around! And this doesn’t even include hundreds of closi...
READ MOREPrimeLending receives the Prestigious Pinnacle Award
Saturday, 17 March 2012 12:44
PrimeLending receives the Prestigious Pinnacle Award for 2nd year in a row from the TMBA! Click on "read more" to see more about this award....
READ MOREPrimeLending receives Originator Review Assessment from Fitch
Wednesday, 14 March 2012 11:45
PrimeLending receives Originator Review Assessment from Fitch...
READ MORERecent USDA Success!
Friday, 02 March 2012 14:25
USDA purchase brand new construction: Brand new $200,000 home in new up-and-coming subdivision, in a USDA Rural Housing-eligible area in Wilmington, full approval (including USDA approval also) and it is only subject to completion of the home, construction to begin and we will close the loan as ...
READ MOREMore recent success stories!
Tuesday, 28 February 2012 15:52
1. MCC tax credit approved for conventional purchase, buyer should save money every year when filing tax returns; buyer’s loan approved and ready to go 3 weeks prior to scheduled closing date 2. Loan approved for cash-out refinance of primary residence, borrower using cash out from home to enable...
READ MOREFHA purchase first-time homebuyer
Friday, 24 February 2012 16:47
Borrower had been working with another lender and was disappointed with their lack of communication and disclosure of important information. We obtained a credit rescore & got buyer’s score up to where approvable, added nontraditional tradelines to credit report also to give credit more depth, u...
READ MOREA few of our latest successes!
Wednesday, 22 February 2012 14:42
Clear to close for a purchase of a 150 year old home, Clear to close on an FHA purchase where the buyer has a 635 credit score and about 15 medical collections, 2 buyers qualified this week for the MCC tax credit, Clear to close on a USDA purchase where the buyer has a 635 credit score with 100% fin...
READ MOREDigging Deep!
Monday, 20 February 2012 21:57
Thanks to our Amy’s genius, we closed a complicated FHA purchase formerly denied by another bank for excessive debt ratio: Has a business with a loss which lowered the primary income, Amy dug deep to prove & eliminate debts paid by the business, able to prove higher eligible income, and showed a...
READ MOREMortgage Loan Products Galore!
Sunday, 15 January 2012 15:23
WE ARE THE SWISS ARMY KNIFE OF MORTGAGE LENDING – Don’t listen to press saying you can’t borrow!Our recent closings include: Homepath purchase with no pmi and appraisal, NC Housing First Home Loans with 100% financing at a low fixed rate, MCC tax credit purchases, Permanent loan for new const...
READ MOREPrimeLending Announces 2011 Producer Awards!
Tuesday, 27 December 2011 15:16
In a recent PrimeLending National Production Announcement, Russell Smith was named a 2011 President's Club Prime Power Production Member! Along with other qualifiers that were named to this club, Russell will be honored with his award in Key Biscayne, Florida in May, 2012. Congratulations Russell ...
READ MOREClear to Close...
Monday, 08 August 2011 15:49
Clear to close on a conventional loan purchase in 1 week from receiving the signed purchase contract in Lumberton! ...
READ MOREMCC tax credit / USDA mortgage with a 635 score final approved
Tuesday, 24 May 2011 12:23
Started working with buyer on 4/7/11 with a 579 credit score. Had her pay down card balances and got her score to 635 and approvable for manual underwriting. Didn’t get the score up until 5/6/11 and closing on 5/26/11. Helped listing agent and seller too because the house has a lot of liens ...
READ MOREOne credit score-No problem!
Friday, 13 May 2011 17:47
FHA approval with 3.5% down payment and buyer only 1 credit score. Even if the borrower has one credit score but it is good credit, we can still lend on FHA without an increase in rate. We were able to approve a buyer the other day with this scenario. For more details, contact us...
READ MOREBuyer goes from credit issues to low fixed rate approval!
Friday, 01 April 2011 20:16
With our direction, the buyer’s hard work, and the help of credit repair, a current client was able to go from being unable to qualify for any mortgage because of credit issues to qualifying for a Below Market 30 Year Fixed Rate. Because the buyer now has a qualifying credit score, is a first ti...
READ MORECalculating a Pastor's Income for a Mortgage Loan
Wednesday, 23 March 2011 13:29
We recently received a call from a pastor of a church that received a denial from another lender. The problem the other lender had was counting the housing allowance, which is standard income for a pastor, when it does not show on the borrower’s tax returns. A documentable housing allowance is...
READ MORE2nd home purchase of a condo with no pmi, no appraisal, and only 10% down!
Thursday, 30 December 2010 12:52
Last week we preapproved a purchase of a 2nd home / vacation home that is a condo for 10% down on the HomePath program! This is a Fannie Mae owned foreclosure property which is being sold with special and unique financing. For this Homepath condo, we can loan up to 90% as a 2nd home with no PMI,...
READ MOREExamples of How We Can Help
Saturday, 11 December 2010 09:33
Appraisals, credit scores, debt to income ratios, and guidelines in general are tough nowadays. We are here to help you. Here are some examples of recent closings that were referred to us because of issues elsewhere: 703 credit score with only 1 tradeline reporting on creditUsed 3 alternative...
READ MOREAnother Mortgage Save!
Wednesday, 08 December 2010 14:42
Cashout refinance with 48% debt ratio approved. Helped referring bank and client....
READ MOREApproval Success Story!
Monday, 06 December 2010 15:58
Success story of a previous bank turned down self employed borrower! We received a mortgage underwriting approval Saturday morning (yes, our underwriters will work on weekends to stay caught up!) in just over 24 hours from underwriting submission. The client was referred by a bank after they had a...
READ MOREAwesome Approval You Have To Read!
Tuesday, 30 November 2010 13:02
Limited Credit buyer approved for 100% financing! Scenario: Only 1 credit score with limited credit, first time buyer, no rent history, USDA loan with no money down, only 1 trade line reporting on credit, used 3 alternative credit references (cell phone, insurance, installment payment not on cred...
READ MORE
