This mortgage product is part of our portfolio lending program. It is ideal for borrowers who wants to purchase a home but does not qualify for traditional mortgage financing due to previous Foreclosure, Short-Sale or deed-in-lieu.
Benefits & Features
Down payments starting at 15%.
Shorter waiting time after financial difficulties.
Fixed- and adjustable-rate mortgages (ARMs) are available.
Minimum Fico Credit Score starting at 620 with compensating factor.
Must wait one at least one day after Foreclosure, Short sale or Deed-in-lieu or Two years from Bankruptcy before applying.
Asset or Liquid reserves are required.
The loan process many times boils down to what you can afford. A good way to check your potential finances is to utilize a monthly payment calculator such as the one found here with Ready Mortgage Lenders.