Boris Bast, the Commercial Loan Specialist at MortgageDepot Orlando, FL branch, successfully closed a loan for a self-employed borrower who refinanced a mixed-use owner-occupied property in New Jersey.
Securing a commercial loan can be challenging, especially for borrowers who are self-employed and unable to provide traditional financial documentation. In this case, the borrower was unable to provide business financing, personal income, or building income, making the loan process even more complex.
However, Boris Bast, with his expertise and experience in the mortgage industry, was able to successfully navigate through the challenges and secure a 30-year fixed loan with 75% cash-out for the borrower.
One of the key reasons for the success of this loan was Boris’ ability to think creatively and find alternative solutions to meet the borrower’s needs. For example, instead of relying solely on traditional income verification, he looked at the borrower’s overall financial picture and considered their credit score, cash reserves, and other factors.
Moreover, Boris Bast’s commitment to customer service and communication played a vital role in building trust and confidence with the borrower. He was able to provide clear and concise explanations throughout the loan process, keeping the borrower informed and involved at every step.
Finally, Boris Bast’s expertise in the mortgage industry enabled him to navigate through the complexities of the loan process, ensuring that all requirements were met, and the loan closed successfully and on time.
In conclusion, the successful closing of this loan for the self-employed contractor refinancing a mixed-use property in New Jersey is a testament to Boris Bast’s expertise, creativity, and commitment to customer service. His exceptional work reflects the values of MortgageDepot Orlando, FL branch, and we are proud to have him as part of our team.
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