This Buyer Almost Lost His Dream Condo—Here’s Why…

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 of amateur optimism doesn’t cut it. You need a seasoned mortgage expert who understands the nuances of underwriting and can navigate the quirks of complex loan files—especially with condos! Flashy lenders and smooth-talking sales reps simply don’t deliver when the guidelines get tricky.

THE FIX: I stepped in and ran a full financial and underwriting analysis—not just on the buyer, but on the condo project itself. That’s when I found the red flags: the development didn’t meet standard Fannie Mae or Freddie Mac criteria.

THE SOLUTION? I structured the loan to qualify under a limited condo review, bypassing the documentation hurdles. I proactively communicated with the lender, realtors, and attorneys, making sure everyone stayed informed and aligned.

THE RESULT: ✅ Borrower Approved ✅ Condo Approved ✅ Loan Closed—Quickly and Smoothly

THE TAKEAWAY: Don’t treat your mortgage like a retail product. “Big Box Banks” often create big-time headaches. What you need is expert strategy—not empty slogans.

Work with a Certified Mortgage Planning Specialist® with 30 years of proven results and consistent Five-Star Reviews. To avoid costly mistakes like this one, call me BEFORE you make your next move.

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Warren Goldberg is President of Mortgage Wealth Advisors, a Certified Mortgage Planning Specialist®, and a published author. His interviews include Blog-Talk Radio, Newsday, The Daily News, Anton Press, and the Long Island Herald. Since 1992, he’s been sharing his financial knowledge and wealth-building strategies, including how to properly use your mortgage as a financial tool. His clients regularly express their trust and appreciation by recommending friends and family call when in need of mortgage, real estate, and financial guidance.