An important question to ask the good Doctor is why they think they will not qualify for a loan to finance the purchase of your home (it sounds as if they think they won't qualify, otherwise they would have their financing lined up). Once you find this out, they just may find out they can qualify for a loan with the right lender; not all lenders have the same loan programs.
-1.If they had a short sale or foreclosure, we have a loan with NO WAITING PERIOD as long as they have 25% of the purchase price as a down payment.
-2. If they had a Chapter 7 Bankruptcy at least 6 months ago, we have a loan program for them.
-3. Also, we will finance a purchase with 3.5% down as long as they have a 580 credit score.
These are just a few of the things we do that are "outside of the box" because we do things other banks won't do. We actually fund quite a few "fallout" loans from other banks/lenders who will not lend to people in these situations. Please feel free to contact me directly if you have any further questions, I'd be glad to help.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
Sun West Mortgage USA, Inc. (FN)
NMLS Company ID: 3277 / Branch ID: 359295
8950 East Raintree Drive, Suite 200, Scottsdale, AZ 85260
NMLS ID 263779
We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required), HARP 2.0 - No Appraisal Required to Refinance Underwater Homes, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!