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A self-employed dentist finally gets financing after trying 4 times

A self-employed dentist finally gets financing after trying 4 times

Mortgage Depot devotes specialized care and attention to each of our clients seeking a mortgage. Recently, Mortgage Loan officer Roman Kaziev worked diligently to secure a mortgage for the following client facing specific challenges when applying for a mortgage. The borrower is self-employed obtained a No Income Check loan after being declined by four other banks. The process went very smoothly, and they can now save $900/Month on their mortgage.


Roman Kaziev went above and beyond to make sure my mortgage goes through. His entire team worked for months to ensure that the banks and attorneys complete all the paperwork expeditiously and thoroughly. I was always kept informed of every step of the process. I highly recommend Mortgage Depot for all your mortgage and refinance needs.”

Securing the right mortgage for each of our clients is our ultimate goal. No two people will have the same financial aspirations or needs, and we are focused on providing them with the very best options when seeking a mortgage. If you want to be a homeowner, let us assist you in making those dreams a reality. Contact Roman for any or all of your mortgage needs.

Mortgage Depot Partner Ryan Walsh

Mortgage Depot Partner Ryan Walsh

Ryan J. Walsh Esq. of the law firm Ryan J. Walsh & Associates PPLC is a valued partner of MortgageDepot. His practice specializes in serving first time home buyers, real estate owners, lenders and nonprofit organizations in residential and commercial real estate transactions throughout New York State. As a banking attorney, periodically his firm caters a casual lunch for the staff at MortgageDepot to further deepen our understanding of his role with regards to our clients and the real estate banking industry.

Mr. Walsh’s practice focuses on representing lenders and individuals in the purchase and sale of residential and commercial real estate at closing. His firm represents clients in residential and commercial mortgage transactions, sales, purchases, refinances, leasing of commercial and residential real estate properties. The firm also provides counseling for individuals in the preparation of wills, estates and the sale and purchase of business interests.

Additionally, Ryan is also a dynamic, engaged member of his community at large. He is an active board member of Neighborhood Housing Services of Northern Queens, a Statewide Board member of Best Buddies, a board member of the Central Queens Y. Ryan was also formerly a board member of Community Board 11 and the YMCA 189 Beacon Program.

Mortgage Insurance

Mortgage Insurance

At Mortgage Depot, we understand that some buyers struggle to come up with the money for a down payment, so we work with lenders offering reduced down payment requirements for loans with private mortgage insurance. PMI allows buyers to qualify for a mortgage with a lower down payment, but no one wants to pay a monthly fee for PMI if it can be avoided. Mortgage Depot is a mortgage broker, so we work with different lenders offering alternatives to PMI.

What is mortgage insurance?

Most lenders require borrowers to put down at least 20% of the purchase price of a home. Mortgage insurance was developed to give borrowers who could not save enough money for a 20% down payment the chance to purchase a home.

PMI is a policy of insurance that pays a lender in the event a borrower defaults in making payments on the mortgage. The monthly cost of PMI depends upon the following factors:

  • Amount of the down payment
  • Borrower’s credit score
  • Loan-to-value ratio

How long it will take a borrower to payback a loan is also a factor in determining the cost of PMI. The PMI for a 15-year mortgage will be less than a mortgage that will take 30 years to payback.

Avoiding PMI

The easiest way for a borrower to avoid the cost of mortgage insurance is by putting down at least 20%, but we know that is not an option for many people. Mortgage Depot has lenders offering an alternative to PMI through a piggyback mortgage.

Piggyback financing involves a first mortgage for 80% of the purchase price and a second mortgage equivalent to 10% of the price of the home. The buyer’s down payment using this method of financing is reduced to 10% of the purchase price, and both loans close at the same time to complete the transaction.

Contact Mortgage Depot

Speak to one of our loan officers about alternatives to mortgage insurance.

To contact us by phone call 800-535-0270 or email us by clicking here.

Meet Katherine

Meet Katherine

My role at MortgageDepot is that as a Loan Officer’s assistant. Three years ago, I was an intern in the payroll office of Queens Community College, which is a part of the City University of New York also known as CUNY.

My days are Monday through Friday rain or shine. I spend those days doing verifications and processing additional documents digitally for clients seeking to secure a mortgage or to refinance their homes. It makes me happy to contact clients notifying them that their file is “Clear To Close” (CTC) and that we can proceed by scheduling a closing date! I like everything that I do in my daily work. My part helps others to achieve their dream of becoming a homeowner.

This year, we’ve closed more mortgages than ever. If there’s one change that I’d like to see in the mortgage industry is to see more paperless processes for documents. Eventually, I think digital technologies are going to transform how the real estate industry operates in the future.

UWM Sponsors Lunch

UWM Sponsors Lunch

Our valued partner United Wholesale Mortgage graciously catered lunch for the staff of MortgageDepot. We are proud to be partners with UWM. As partners, we work in tandem to provide a wide array of mortgage products from UWM to our clients to help them secure the home or business of their dreams.

UWM bringing the staff together to “break bread” over lunch enhances the feeling of camaraderie among the colleagues here at MortgageDepot. This generous gesture engenders a positive corporate culture that translates into a higher level of customer service for all of our clients.

Thanks to United Wholesale Mortgage for making lunch here at MortgageDepot a “family affair!” If you’d like to gather your family around the table in a new home, contact MotgageDepot today to secure your mortgage. We’ll treat you like family. Our Mortgage loan officers are here ready to make your dream of home ownership a reality. Give us a call today for a consultation, and with the help of United Wholesale Mortgage, we’ll get you the very best mortgage product for your needs.

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