Alternative & Second Chance Home Loan Programs

Alternative and Second Chance mortgages offer homeowner’s a fresh start.

You can get a mortgage one day out of foreclosure, short sale, or bankruptcy. This entire product line has absolutely no prepayment penalties and you are free to refinance your home as soon as you meet traditional lending guidelines.

Designed for borrowers that are re-entering the marketplace after a credit event or housing event. Borrower’s that have the following issues can be accommodated and granted credit.

  • Maximum 90% financing is available to borrowers that have re-established their credit histories and have a minimum number of trade lines.
  • Minimum FICO score for Full Doc loans is 600.
  • Loan is a Section 35 HPML loan.
  • We offer 5/1, 7/1 , 15 and 30 Year fixed rate options with no pre-pays on fully amortizing mortgages. I.O. option available on all loans.
  • We finance SFR’s, Condo’s both low rise and high rise, 2-4 unit properties and non-warrantable condo’s.
  • We finance Owner Occupied, Second Homes and Non-Owner properties.

Permitted Loan Purpose Types

  • Purchase
  • Rate and Term Refinance
  • Cash-Out Refinance
  • Lease option to purchase
  • Recorded and unrecorded land contracts
  • Loan on inherited properties
  • Loan on property owned free and clear
  • Permanent financing replacing construction loans.
  • Loans with no seasoning requirements when Free and Clear