Quick & Easy Loans with Accufunds!
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At Accufunds Financial, we thrive on transforming complex financial hurdles into successful home purchases. Our experience with K.M. exemplifies our commitment to exceptional client service, even under the most challenging conditions.

Challenge

K.M. faced numerous obstacles from the start. The initial plan to sell his townhome through Homelight fell through due to market risks, complicating his ability to secure a new home loan. Compounded by a high DTI of 64.50% and previous rejections from two lenders, K.M. found himself in a precarious financial situation with limited assets and reliance on gift funds for his downpayment and closing costs.

Adaptation

With the option to sell his townhome no longer viable, K.M. adapted by deciding to rent it out. Although finding a tenant willing to meet the necessary $3,400 monthly rent was challenging, K.M. succeeded, enabling him to pursue his new home loan with us. Accufunds Financial is adept at resolving issues that typically derail loans, ensuring our borrowers are supported and confident throughout the process.

Solution

As K.M.’s financial position required flexibility, he opted to increase his loan amount to minimize the downpayment. This adjustment brought additional challenges, including further DTI concerns and complications with property taxes and lender fees. Our team engaged diligently to navigate these issues, achieving a loan structure that met all regulatory and financial requirements.

Execution and Closing

K.M. applied for his loan on March 25th with a goal to close swiftly by April 5th. Amidst the rush, uncertainties led K.M. to consider other lenders, halting our process temporarily. However, our unwavering dedication to his case and a thorough walk-through of the closing process reassured him to continue with Accufunds Financial. The loan successfully closed on April 17th, with a final loan amount of $446,600, an LTV of 65%, and an interest rate of 6.5%. To further assist K.M., we reduced our fees, waived the underwriting fee, and decreased the processing fee, substantially aiding with the appraisal and closing costs.

Conclusion

This story underscores how Accufunds Financial prioritizes high-level customer service and innovative solutions. Despite the challenges and the borrower’s initial hesitations, we maintained focus and delivered on our promise, adding another satisfied homeowner to our community.

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