Second Chance Loan

We have portfolio lenders who believe in providing loans to individuals who have endured financial hardship.  Examples of loans that we do that others won't: Previous bankruptcy, previous foreclosure, previous short sale, prior modification, HOEPA/Section 32 loans, mobile homes of any age, no maximum acreage, vacant land, and zoning problems. We are willing to take some risk and to give you a second chance through a Portfolio Loan Program. But these loans are riskier than the conventional loan so we underwrite them carefully. What does that mean to you? We don't offer prequals or preapprovals because we need to see a full application, income verification, and credit report in order to price the loan accordingly. But our conditional approval requirements are very reasonable. 

  • 1 day from foreclosure, bankruptcy or short sale with reasonable explanation for delinquency due to job loss or illness. Program down payment based on credit score and minimum 10% down payment. FICO 680+, No Mortgage Insurance
  • 1 day from foreclosure, bankruptcy or short sale 20% down payment FICO 580+, 1x30 ok 

Call us to discuss your specific mortgage needs at 908-722-9217 or toll-free at 800-327-0123.  We can help you structure a plan to purchase your new home.