Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

580 Credit Score to $1,000,000

Non-Prime Mortgage Loan Program- 580 Credit Score

Update: since Covid, 620 is currently minimum credit score needed for the program

* 600 credit score – Primary borrower

The co-borrower must have at least a 580 credit score and also must not have more than 42% of total income.

Income documentation type: Full Doc

Maximum LTVs

* Purchase loan – 80% LTV

* Rate & Term refinance – 80% LTV

* Cash Out refinance – 75% LTV

Owner-Occupied

Maximum loan amounts: $1,000,000

Cash Out

* $300,000 to 75% LTV

* $200,000 to 80% LTV

Maximum DTI – 45%

Reserves Requirement:

* Owner occupied – 3 months’ principal tax and property insurance PITI plus an additional 3 months’ PITI for every other real estate owned.

Credit Notes:

* Bankruptcy history: 1 year seasoned

* Foreclosure history: 1 day

* Short Sale history: 1 day

* Loan Modification history: 1 day

Credit Depth:

* Active Tradelines – 3 years

* Total Tradelines – 6 years

* Credit History – 6 years

* Judgments and collections may be required to be paid-off before the closing date including tax liens and back-child support.

Permanent resident aliens OK with 660 Credit Score / FICO Score

First Time Homebuyer – OK to 80% LTV

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders