Mortgage Grader

Please email your buyer scenarios to Jeff Lazerson by clicking HERE or call him at (949) 322-8640 and let’s see if we can solve your loan approval challenges!

Week of 1/14/17:

Elderly couple want to sell their two story home, down size square footage and go to a one level home.

All they have is social security and a small pension which is not enough to qualify. They are able to sell and manage to put 48 percent down on a smaller place (typically reverse mortgages require at least 40 percent down but it does depend on the DOB of the youngest borrower). They qualify for and get funded on a reverse mortgage which requires no payments. Deal gets done.

Realtor is a hero!

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Jeff Lazerson - Mortgage Columnist since 2011