The goal of the deal of the month is to provide other agents with info on how to solve a tough scenario. It’s also a great way to showcase a lender option that others might not know exists.
Calling all brokers to submit your juicy deals! Please send your deal scenarios to Shannon at shannon@gopineapple.com
Case Study
Here’s an example:
Purpose: Primary home purchase
Challenges: High liability due to a mortgage that the client previously co-signed for but never lived in
Possible solutions: Alternative lender, refinancing the non-subject, have his name removed from the mortgage and title, have the non-subject property sold
Solution and why: Refinanced the property to reduce the monthly liability and added potential rental income to increase the overall income on file. Previously plans to get off the title and sell the property fell through within 5 weeks of the closing date
Lender: Scotia bank
Rate: PRIME-1.00%
LTV: 64%
Credit Score: 747 and 842
GDS: 37.9
TDS:39.1
AM: 30
Product: Scotia Step
Outcome: closed and funded