Max 90% LTV - No MI - Derogatory Credit OK


NO WAITING PERIOD

(Chapter 7 or Chapter 13 Bankruptcy, Foreclosure, Short-Sale, Deed-In-Lieu and Mortgage Loan Charge-Off)

First time homebuyers allowed.

Loans > $453,100 ($636,150 in some counties).

Purchase/Refi to $1M with 640 FICO, 85% LTV.

Purchase/Refi to $1M with 580 FICO, 70% LTV.

No need for Mortgage Insurance (MI).

Reserves requirements 3-6 months.

DTI up to 55% with 75% LTV and 680 FICO.

ARM loans up to $1M with 70%-85% LTV.

Cash-out Refi to $1M ($750K for debt consol).

100% gift funds permitted from family members.

No prior mortgage or rental history required.

Non-traditional credit allowed.

2 YEAR WAITING PERIOD

(Chapter 7 or Chapter 13 Bankruptcy, Foreclosure, Short-Sale, Deed-In-Lieu and Mortgage Loan Charge-Off)

First time homebuyers allowed.

Loans > $453,100 ($636,150 in some counties).

Purchase/Refi to $1.5M with 660 FICO, 90% LTV.

Purchase/Refi to $1.5M with 610 FICO, 80% LTV.

No need for Mortgage Insurance (MI).

Reserves requirements 3-9 months.

DTI up to 55% with 75% LTV and 680 FICO.

ARM loans up to $1.5M with 75%-90% LTV.

Cash-out Refi to $1M ($750K for debt consol).

100% gift funds permitted from family members.

Existing mortgage no more than 45 days late.

Mortgage/rent no worse than 1x60x12.

Non-traditional credit allowed.

Impaired Credit Buyer Loan Facts


These loan products help borrowers with less than perfect credit history achieve home ownership for the first time or help them re-establish homeownership after a housing/credit event such as Bankruptcy (Chapter 7 or Chapter 13), Foreclosure, Short-Sale, Deed-In-Lieu and Mortgage Loan Charge-Off.

Over the past few years, many hard-working people who lost their homes or were forced into bankruptcy due to a layoff or reduced income have since rebuilt their credit. These loan products are for these borrowers who may be unable to obtain mortgage financing due to credit event seasoning or other credit requirements.

Borrowers will need to demonstrate the ability to repay.

Full Income and Asset documentation is required.

Accommodates borrowers who do not meet other traditional underwriting guidelines such as high DTI, non-traditional credit and lack of mortgage/rental history.

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Current Rates

Purchase & Refinance rates shown below reflect real-time rates based on current market conditions and are the best from across our lender partner network.