The Loan Game

The Loan Game

Every home loan is different of course, but over the years I have had several situations that upon first glance may look improbable, if not impossible. I wanted to list some home loan issues here, to make you realize that maybe your home loan situation is not that tricky, and to give you hope that whatever it may be, we can handle it together. I enjoy going as far as possible in order to get things done for my clients. I often say that it is the job of the Underwriter to put up road blocks, it’s my job to figure out a way around them.

So, in my best Game Show Host voice, let’s not delay any longer………….

Good afternoon ladies and gentlemen, welcome to everyone’s favorite game show,


Our first contestants from Lakewood, Colorado……

Married couple, man has been unemployed for last 4 months, used to be in the restaurant business, and just got a W2 job as a restaurant manager for a store that opened a month, Credit Score of 760.  His wife is a full time student and cleans houses on the side and has not been claiming the income on her taxes.  They do have 20% to put down………..
Can they get a home loan?

Our next contestants, from Longmont, Colorado….

Married couple, Owns Primary Residence, has two sons.  One son owns FHA condo in Denver.  The other son lives in Oklahoma and wants to buy a condo for 3.5% down, an FHA loan.  He, however, is currently in school, has 628 credit, only works part time and has bills and can’t afford to buy on his own……………….
Can they get a home loan?

Our next contestants, from Boulder, Colorado….

Recently divorced woman, wants to retain the house so she and her kids do not have to move, but is not currently on the mortgage.  She only works part time as a server in a restaurant for less than a year, but has perfect credit and does receive Child Support for both kids as well as spousal support.  Can she get a home loan?

Our next contestants, from Pueblo, Colorado….

Married Couple.  He is an honorably discharged Veteran from the Navy, and has a full time trucking career, but his Credit is 615.  She is unemployed, and has a Credit score below 600.  They have no money to put down

Can they get a home loan?

Our next contestants, from Boulder, Colorado….

Two people, living together but unmarried, both work at Whole Foods at just above minimum wage….both have stellar credit, over 740, but have no money to put down, and no money in the bank.  He does have about $5,000 in gold coins…..they moved here from Bosnia a year ago and he just got his green card….his Grandma still in Bosnia wants to give them down-payment money.

Can they get a home loan should we add this to our list of bad credit loans?

Our next contestants, from Louisville, Colorado….

Married Couple, moved here from Florida 9 months ago.  They both have great credit.  He drove for Uber for 4 months, but is now back in his professional field of Communications.  She is a Trauma Nurse, in the medical field for years.  They only have $5,000 between the two of them and want to buy a $425,000 house.

Can they get a home loan?

Our next contestants, from Longmont, Colorado….

Woman, getting divorced, husband says he wants the equity out of the house and wants her to sell, she wants to stay in the property to let her daughter and grandchildren stay with her, She owns rental property in her name only, which cash flows a little money monthly.  Has a Full Time Job, doing data entry hourly, and she gets $1,500 a month income from an annuity $50,000 left in it.

Can she get a home loan?

Our next contestants, from Arvada, Colorado….

Married Couple, FHA Loan.  She has been self-employed for 5 years operating a farmers’ market, showing little income, but still filing taxes every year. He just quit his job to work full time for the farmers’ market company to try to grow it bigger.  They have fair credit, but their interest rate is astronomically high, they need to refi to save money for the business, and they have a baby on the way.

Can they get a home loan?

Our next contestants, from Thornton, Colorado….

Married Couple, she is a self-employed musician with great credit, but very little provable income;  She is a schoolteacher with great credit, and great income.  They want to buy the Condo they are now living in.  Their landlord loves them but can’t gift them equity to cut them a deal because he isn’t a relative.  They only have $2,500 saved for a down payment.

Can they get a home loan?

ANSWER:  Everybody on this page was able to get a Home Mortgage Loan.  If you found this useful please call me so that you can be the next success story! 


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