80% rental purchase on stated income

Request: DLC agent seeking 80% financing where client had 75% approval with another brokerage. Requesting 80% to help client close presale rental condo purchase and help DLC agent win the deal away from another brokerage and agent. Presale contract was written September 2010 and required to close April 2013

Challenge: Required use of stated income on a rental purchase. Appraised value came in slightly lower than original purchase price from 2010. One of the applicants (wife) had multiple income sources with very little documentation. High level of cash income for wife. Husband is self-employed and home based. Client already approved and signed up with another agent and brokerage. At time of closing, client and his family was in and out of town with travel. Timing was crucial to adhere to clients traveling schedule.


  • DLC agent referred deal to Plan B on a Tuesday to assist in finding approval to win this deal away from another brokerage
  • Plan B negotiated with the SAME LENDER who approved the 75% from the original non DLC agent, an 80% approval on the Friday of same week of receiving the deal. Once exclusivity was granted from the client, the lender issued the 80% approval
  • Plan B communicated directly with the client to facilitate all lender conditions with ease and efficiency and to ensure lawyers and instructions were on track to adhere to clients schedule and closing date
  • DLC agent was alleviated from the time required to execute this purchase, won the deal and the client, received the accolades for being able to obtain approval the other brokerage could not.
  • Upon closing the consumer emailed the DLC agent and Plan B the following: “Thank you Guys!
  • truly appreciate your help and professionalism on this project”
  • DLC agent received commission check for $3,268 = 63bps = 13bps MORE than original non DLC agent was to receive on their approval.
  • More LTV, same rate, more broker commission, extremely pleased and impressed consumer, DLC client for life.