Subprime Lending Guidelines

Below are minimum and maximum loan amounts, property requirements and income qualifying options.

  • The subject property must show “Pride of ownership” shutterstock_60630436with no significant deferred maintenance existing.
  • All loan programs are 30 years fully amortized. All loan are fixed for the initial 7 years of the loan and adjusts each year thereafter.
  • Loan amounts are available from $50,000.00 to as high as $1,500,000.00
  • Our income requirements are much more flexible than those imposed on borrowers by the big banks. Currently we will allow total debt ratios as high as 50% of our borrower’s monthly income.
  • The documentation that we accept to document income is:
  • Employed borrowers: “2” years W2’s and the most recent paycheck stub
  • Self-Employed borrowers: “2” years federal tax returns and a YTD (Year to Date) P & L statement
  • Alternative documentation: “12” months of personal bank statements

shutterstock_66645628The program is available for both the home that you live in or for a second home or rental property.

We offer a Pre-Qualification and an underwriting Approval for those that are intending to purchase a new property and are in need of a loan approval to be submitted with all purchase offers.

Subprime Loan Qualifying is simple and easy. All we need is our company’s application completed, a credit report that we will pull and what it is that you are intending to do and we will be in a position to provide a conditional approval. The process takes less than 2 days with loan closing in less than 30 days.