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We recently helped a borrower purchase a new primary residence with just 10% down despite a highly complex financial and employment history. Her previous employer unexpectedly went out of business, making it impossible to verify several years of employment. She then experienced a three-month gap in employment, started self-employment work to generate income, and later accepted a new W-2 position in Los Angeles.

Adding to the complexity, she had refinanced a Utah property as an owner-occupied residence only a few months before purchasing her new home in California. This created significant underwriting concerns because lending guidelines generally do not allow borrowers to maintain two primary residences. We also needed to document the conversion of the Utah property to a rental and use the projected rental income to support qualification.

Through careful planning, extensive documentation, and close coordination with underwriting, we successfully navigated the challenges and secured financing.

Property Details

Price: $1,357,000

City: Encino

State: CA

Zip Code: 91436