THE SCENARIO: A first-time condo buyer with a strong profile: 20% down, solid income, excellent credit. On paper, he looked like a sure thing.
THE PROBLEM: He spoke to ‘his bank’—they said, “No problem!” He was denied. Then he tried a lender recommended by his agent—“Piece of cake,” they promised. Denied again.
THE DIAGNOSIS: In today’s lending environment, that kind