FICO Credit Score 500 - 549

Portfolio Loan:  Poor or Bad Credit Risk Offset By Larger Down Payment Requirement

We offer Portfolio mortgage loans that other lenders will not make. These loans are serviced by a Porfolio lender.  The Portfolio loan is not sold and is not subject to the limitations of the secondary market (Fannie Mae or Freddie Mac).  These lenders hold the loans [in house] and therefore they have their own underwriting guidelines. The secret is that we understand the borrower profile that fit the Portfolio Lender mortgage program.

The are no pre-qualification and no pre-approvals for this type of loan. We requires a full application, verification of income, and credit in order to price out the loan.  Amortization period is 360 months.  Rates are based on a combination of factors including credit score, loan-to-value, debt-to-income, property type, and loan size. Origination points are charged.

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Some of the loans that would be entertained:

  • FHA 3.5% down payment
  • Prior Bankruptcy 
  • Prior Foreclosure, 1 day out of foreclosure is okay. Larger, minimum 10% down payment required.
  • Prior Short Sellers 
  • Prior Modification 
  • Up to 80% Loan-To-Value (Non-FHA)
  • Debt-To-Income up to 55%

On-Line Inquiry. Call us today toll-free at 800-327-0123 and let us help you determine which program meets your specific need.