Case Study

Case Study

Case Study

May 2, 2025

May 2, 2025

May 2, 2025

Paystub Woes: A Horror Story

Numbers

Loan Type: Conventional Purchase Loan
Program: 30-Year Fixed 
Loan Amount: $232,000
Sales Price: $290,000
Rate: 5.99%
Down Payment: 20%
Estimated Loan Payment: $1,390.81

Background

Tam was a referral from his brother-in-law which Vantage helped purchase three houses for previously. This, however, would be Tam’s first purchase.

Client Requirements

The requirements for the loan program was to provide documented taxable income as well as a credit score over 700 for the loan Tam wanted.

Loan Challenges 

Tam worked for his brother-in-law for over two years. However, the brother-in-law had shut down the business that Tam was working for and transitioned the company into an S-corp under a different name. Tam’s paystubs had two different business names on them. Therefore, Vantage worked with the company’s CPA to draft a letter declaring that the two companies were in fact the same and document that the businesses had the same owner and continued the same line of work and industry.

The Results

Vantage was successful in crossing the bridge and also kept the same program and rate, allowing Tam to complete his purchase.

The Vantage Advantage

When others would simply waiver and not be able to figure out a workaround regarding the different companies on the paystubs, Vantage was able to use past experience with similar situations to get the job done.

© 2024 Vantage Home Loans Mortgage. All rights reserved.

Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily.

145 S Fairfax Ave #200, Los Angeles, CA 90036

Equal Housing Opportuity

NMLS #1394651

BRE License #01984669

NMLS Consumer Access

© 2024 Vantage Home Loans Mortgage. All rights reserved.

Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily.

145 S Fairfax Ave #200, Los Angeles, CA 90036

Equal Housing Opportuity

NMLS #1394651

BRE License #01984669

NMLS Consumer Access

© 2024 Vantage Home Loans Mortgage. All rights reserved.

Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily.

145 S Fairfax Ave #200, Los Angeles, CA 90036

Equal Housing Opportuity

NMLS #1394651

BRE License #01984669

NMLS Consumer Access