“From 6% to 3.5% in a Few Months”
Hoping things are going well for you during this crazy time. We do still want to proceed with the refinance as our 2 year date for the BK discharge was 4/20/2020.
We are both still working, but he did take a temporary pay cut of 20% which he has in writing to resume normal salary when life resumes - however should be still enough salary to meet need of any loans.
You were so great to work with to get us a mortgage that no one could do, so can you help us again? We are excited to get out of a 6% mortgage rate.
All the best.
Non-QM mortgages have their purpose, and this is a perfect example. Even though I recommended they wait a few months to buy a home, they did not want to wait as they found their “Perfect Home”. The loan product that I put them into was a mortgage that would allow a mortgage less than two years out of a bankruptcy. They didn’t care that the rate was higher than what they could have gotten now, but they always said they might not find the perfect home again.