In the heart of Tampa, Florida, an ambitious self-employed investor embarked on a journey to acquire not one or two, but a total of nine new construction townhomes. While the vision was grand, the path to realization was far from straightforward. The investor’s quest for financing presented a unique set of challenges, including a smaller-than-typical down payment and complications arising from purchase contract issues and construction delays.

Enter Leo Feliz, a dedicated Mortgage Loan Officer from MortgageDepot’s Hollywood, FL office. With years of experience and a relentless commitment to client success, Leo stepped up to take on the challenges that lay ahead.

The Challenge:
The first challenge on the path to securing financing was the client’s limited down payment—only 15% when many lenders typically require 20% for investment properties. Additionally, the purchase contracts for the townhomes were not created properly, leading to complications. Builder delays further complicated the situation, creating a complex web of obstacles.

The Solution:
Leo Feliz recognized that every challenge is an opportunity for innovation. With adept negotiation skills, he not only succeeded in lowering the interest rate but also increased the loan-to-value ratio (LTV). This strategic maneuver not only made the financing more accessible but also more advantageous for the client.

Understanding the significance of a strong credit profile in securing favorable loan terms, Leo provided invaluable guidance to the client on credit improvement. He also played a pivotal role in addressing the issues stemming from suboptimal purchase contracts, ensuring a smooth and efficient closing process.

The Outcome:
Throughout this complex journey, Leo was the glue that held the deal together. His unwavering commitment and problem-solving skills proved indispensable as he negotiated with lenders and kept all parties aligned towards the successful acquisition of financing for our self-employed investor’s ambitious project – nine new construction townhomes in the bustling city of Tampa, Florida.

This remarkable success story underscores MortgageDepot’s commitment to delivering exceptional service and innovative solutions to clients, even in challenging circumstances. The journey of this self-employed investor was anything but conventional, making it a testament to the resilience and expertise of Leo and the MortgageDepot team.

If you’re facing unique financing challenges or need support in making your real estate dreams come true, MortgageDepot is ready to stand by your side and help you navigate the complexities of real estate financing.

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