Non-Prime Mortgage Lending offers a diverse spectrum of mortgage options, our non-prime mortgage products cater to borrowers with varying credit profiles and financial circumstances. With our Full Doc option, applicants with a minimum FICO score of 560 can access financing, while those opting for Bank Statements need a minimum FICO score of 540.
Non-prime alternative income and employment documentation starts with a 600 credit score. 580 credit score with compensating factors. Find out what you qualify for without a credit check with our comprehensive short application
We understand the complexities of income documentation, hence why we accept 1099 income only and offer flexibility with Written Verification of Employment (WVOE) and P&L statements, even if unaudited and provided by tax (not sourced) preparers.
Our commitment to flexibility extends beyond income verification. With our Asset-Based approach, we evaluate borrowers’ ability to repay without being limited to a “Debt-to-Income” (DTI) ratio. Additionally, we consider Asset Utilization and offer loan amounts ranging up to $5,000,000, with larger amounts considered on a case-by-case basis. We specialize in financing properties that may not meet traditional lending criteria, including Condotels, Non-Warrantable Condos, Short-Term Rentals, Adult Care Facilities, Rural properties, and Manufactured or Modular homes classified as real property.
Furthermore, our non-prime mortgage products accommodate borrowers with recent credit events such as Short Sale, Deed in Lieu, Modification, Bankruptcy, or Foreclosure, with acceptable occurrences within specific timeframes. Additionally, we provide options for Interest-Only payments with both 5/30-year and 10/40-year terms. With a focus on meeting diverse borrower needs, our non-prime mortgages offer flexibility, accessibility, and tailored solutions for a wide range of applicants.
Regarding credit, typically, non-prime lender guidelines allow for derogatory credit like one day after “major credit event” such as a bankruptcy, foreclosure, short sale, deed-in-lieu, mortgage lates (up to 1×60 days late) in the previous 12 months and lower credit scores down to 520 for both conventional and unconventional, Non-Qualified mortgage loans.
Five Alternative Income Verification Options – This Non-QM loan program uses bank statements in lieu of Traditional Income Documentation to determine a borrower’s Ability-to-Repay. Agency
Maximum Loan Amount: $4,000,000 Cash Out: $2,000,000 Specialized lender leads the way in the Non-Prime niche mortgage lending space with over 50 years of collective
Jumbo Bank Statement Program – 620 Credit Score Now you can use your 1099(s) for to qualify (sole proprietor) as additional income/”ability to repay” Self-Employed
Self-Employed Bank Statement Super Jumbo loans Borrowers utilize 12 or 24 months of business bank statements to demonstrate their Ability to Repay, eliminating the need
Foreign Nationals are buying properties now more than ever which means good & effective Buying Power for the foreign national and also more and more
Self-Employed Borrower Income Documentation Portfolio direct lender functions as a direct lender boasting its unique portfolio loan of products and programs. They autonomously determine Non-QM
Self Employed 1099 Only and Bank Statement Home Loans This loan program is for home buyers and homeowners that have a few late payments or
Discover our comprehensive Bank Statement Non-Prime Loan Program, offering flexible solutions for diverse financial profiles on our Non-Prime mortgages.