Lower debt-to-income saves home purchase

Mortgage adviser: Brenda Wyatt, All California Mortgage. Property type: Rockridge, Oakland.

Loan type: Jumbo. Purchase price: $875,000

Down Payment:

10 percent.

Rate: 4.375 percent. Backstory: A relocating client was hunting for a new primary residence, so I completed a full loan approval up front through our Advance Approval program, enabling them to shop for a home with an approved loan.

While they shopped, I reviewed their second home loan and found they were in an interestonly 40-year fixed loan.

By refinancing them into a 30-year fixed in just 19 business days, I reduced their rate by 1.375 percent and saved them thousands in interest, all while locking them in on a new purchase loan when they found their new home a few weeks later.

Brenda Wyatt, All California Mortgage, 510-761-7071, brenda@ financingthedream.net