FRESH START will get you the financing you need on your next mortgage in as little as 1 day after your Foreclosure, Short Sale, or Bankruptcy, for either purchase or refinance lending.
If you do not qualify for Conventional or FHA/VA loan product due to a recent unforeseen event, then we do recommend you take a look at our suite of alternative lending products that will help you qualify for your new home purchase.
We understand bad things can happen to good people, so we have created the following lending options for the following types of scenarios and borrowers.
Our FRESH START mortgage program is designed to help lend to borrowers who have had a recent short sale, foreclosure, or a bankruptcy. Typically if any of these events happen to you, there is a 2-4 year waiting period from the discharge date or sale date, to obtain a new mortgage using conventional or FHA financing.
Some of the Loan Features of FRESH START include:
- LTV up to 85% with no Mortgage Insurance
- Minimum Credit Score 580
- DTI Ratios greater then 50% considered
- Up to $350,000 cash back on refinances
BANK STATEMENT PROGRAMS
For most self employed individuals and small businesses, everything is usually being expensed, so while you know your business and bottom line is profitable, when it comes time to look at the actual tax return, alot less is being reported, which poses a problem for traditional mortgage financing.
With our BANK STATEMENT Program, we can use 12-24 Months of your personal or business deposits to come up with a qualifying income for you. This really takes away alot of the stress with these types of borrowers because they can qualify off of the deposits.
Some of the Loan Features of BANK STATEMENT PROGRAM include:
- 50% of business deposits used to qualify
- 100% of personal deposits used to qualify
- LTV up to 90%
- Loan Amounts up to $1,000,000