MortgageDepot proudly announces a recently closed co-op loan. Co-ops are notoriously challenging to finance, requiring twice as much work as a traditional residential loan. While other mortgage companies may have passed on doing such a hard deal for a $100,000 loan amount, the MortgageDepot team is always eager to take on a challenge.

On this deal, the borrower contacted the loan originator, Richard Goldstein, many years ago when he was employed at a bank. Richard provided such excellent service at that time that she specifically sought his help for her latest loan request. Richard has decades of lending experience, so he was able to help the borrower identify affordable lending solutions for the property that she ultimately decided to purchase.

At MortgageDepot, we excel at setting up great loan terms for our clients. On this co-op loan, the loan originator was able to secure a 30-year fixed-rate conventional loan. However, the loan application ran into a few snags along the way. The borrower’s appraisal came in lower than expected and below the seller’s asking price. The loan originator helped the borrower to understand her options. She decided to renegotiate the terms of the sales contract with the seller. Now that the loan is closed, the loan originator is looking forward to working with this client in the years to come.

Richard Goldstein is a valuable member of the MortgageDepot team. Working as a loan originator, Richard actively helps our customers achieve their financing goals regardless of how challenging the loan request may be.

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