Non-Prime / Portfolio
Non-prime loans may be an option for people who earn income in nontraditional ways, including self-employed borrowers and business owners.
Foreign nationals and borrowers with past bankruptcies, short sales, or foreclosures may also have financing options, subject to program availability and qualification.
Benefits
- Alternative income documentation may be available
- Down payment options for qualified foreign nationals
- Condos and single-family homes may be eligible
Condos Eligible
Alternative Income Documentation
Alternative Qualification Options
Hector has owned his auto repair business for the last 4 years. Although his business is profitable, he keeps his salary at a minimum and pays most of his expenses through the business.
The Problem
Traditional banks and credit unions have told him he’s not eligible to get financing, although he has 20% to put down.
Our Approach
Using Hector’s documented bank statement deposits, we evaluated his business cash flow and ability to repay the mortgage.
Results
With this approach, Hector was able to purchase a property and close within 30 days.
Hans is a successful businessman from Germany. He and his wife enjoy visiting the beaches of Clearwater and St. Pete. He has always dreamed of owning a home and retiring in the United States.
The Problem
Most banks require at least 50% down payment for foreign national financing and moving money or funds to the United States is often very expensive.
Our Approach
Some lenders we work with may offer foreign national loan programs requiring a 25% to 30% down payment, subject to program availability and borrower qualification.
Results
Hans and his wife purchased a condo in Clearwater Beach with a 30% down payment and a monthly payment that fit their budget. Individual loan terms and results may vary.
Interested in Applying?