100% Purchase Price Financing of Owner Occupied dwelling, thin credit, small community

Request: Private Sale where residential purchase price was set at $180,000 and consumer was in need to finance the entire $180,000 = 100% purchase financing


  • No down payment
  • Seeking approval to finance a purchase on a higher appraised value vs. the set purchase price
  • Credit was thin with only ONE active trade line and this trade line had 8 x 30 days late and 2 x 60 days late reporting
  • All other trades were years dated and inactive but did have a history of various lates
  • Limited selection of lenders due to the geographic location of this smaller town coupled with the request to finance without conventional down payment


  • DLC agent referred the B deal to Plan B on a Friday morning
  • Approval was located and commitment given on the next business day Monday
  • Client reviewed options and requested application was shopped a bit more
  • Plan B’s experience assured there was no other options for this approval. Objections were overcome and terms were sold directly to the client. Both Plan B and DLC agent were involved in the sales process with the client
  • Terms and mortgage were successfully sold to client
  • Much hand holding and explaining to this needy client was required and essential all through the application to funding process
  • Mortgage was funded 3 weeks later on the contractual closing date without any issues
  • Consumer was thrilled with being a now 1st time homeowner and communicated much praise and appreciation to both Plan B and the DLC agent
  • DLC agent now has a happy mortgage client for life who will for sure be referring many more clients to DLC
  • DLC agent was able to offer an approval when they were uncertain where to originally find one thus making a powerful business statement AND receive a commission check for 70bps for a 1 year term