Are you looking to qualify for a higher purchase price, but your debt to income ratio (DTI) is too high and the lender is declining the higher loan amount?
Solution: Do you have an investment account that allows you to borrower against it? If so, you can borrow against the investment and deposit the money in your bank account.
Two secrets:
  1. If you deposit the $ in the bank account at least 3 months prior to applying for a mortgage loan, the lenders will not ask questions about the deposit and not ask you to explain the source.
  2. The lender will not include the monthly payment against your debt to income ratio, thereby allowing you to receive a higher loan amount and purchase price.
Always borrow money responsibly and within your financial means.
For additional secrets or tricks of borrowing or for the best loan programs and rates, call Dan The Man For Mortgages, 714-310-4162.
Best rates as of yesterday for conventional conforming loan amount of $766,500 or less, 740+ FICO, 20% down payment, single family home in Los Angeles and surrounding counties are 7/1 ARM at 5.875%, 5.943% APR, no points, W2 employee, or 30-year fixed rate at 6.875%, 6.945% APR, no points.
Rave review on Google:
“Dan Stone found the perfect loan company that worked with us. They both worked together and walked us through the whole process step by step, and made it easy and manageable. I truly appreciate Dan’s help. We were able to cut our interest rate by half. Thank you, Dan! Highly recommend!” – Karone S.