“Take That Deal!”
Hello Joe,
I
hope all is well! I wanted to give you someone who you might be able to
help that unfortunately our bank couldn’t. Her name is Connie, she is
interested in purchasing a 4 family building that will be used
exclusively as rentals. She already has 4 tenants in there, the current
building owner is older and is looking to get out of the business. She
was looking at a 15-year option for $310K. She was talking with another
bank and they gave her a rate of 3.25%. Maybe you have something that
would work better. Again, her name is Connie and can be reached at
860-XXX-XXXX. Hopefully you can help her out! Thanks!
I
wish I could do better, but not the case. I told Connie that she had an
outstanding offer and to move forward with the mortgage application. I
let her know the best rate I would have available for her was 3.75%. She
wisely asked why my rate was a half percent higher. I spent a few
minutes explaining things like credit scores, down payment and debt
ratio.
She let me know that she was going to call the bank again to make sure that she fully qualified based on their criteria.
I wish I could do every loan, but that will never be the case.
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