Unfortunately, many conventional mortgage programs leave borrowers behind after a bankruptcy, foreclosure, or major credit event. Conventional lenders often require lengthy waiting periods that can prevent borrowers from purchasing or refinancing when they are financially ready to proceed. We offer Non-QM Second Chance financing solutions for borrowers who need another opportunity sooner rather than later. A recent credit event does not always define a borrower’s future.
Eligible As Soon As 1 Day After Bankruptcy Or Foreclosure
- Bankruptcy
- Foreclosure
- Short sale
- Credit challenges
- Tough financial scenarios
Unlike many conventional programs that require years of seasoning, eligible borrowers may qualify as soon as one day after a bankruptcy or foreclosure, depending on the overall scenario. This creates opportunities for borrowers who have already stabilized financially and are ready to purchase a home, refinance, or invest again.
Non-QM Income Options
One of the strongest advantages of our Second Chance Program is income options. We specialize in Non-QM financing solutions for borrowers whose income may not fit inside conventional agency guidelines. Eligible income documentation options may include the following.
These programs are especially helpful for self-employed borrowers, business owners, independent contractors, and commission-based professionals who often have difficulty qualifying through conventional underwriting.
Investment Properties Are Also Eligible
Many borrowers assume that recent credit events automatically eliminate investment property financing opportunities. That is not always the case. Our Second Chance Program may also allow financing for investment properties, depending on the scenario. Program highlights include the following.
- Up to 85% loan-to-value with no mortgage insurance
- Debt-to-income ratios up to 50%
- Minimum credit scores starting at 620
- Loan amounts up to $3 million
- Gift funds accepted
- Seller concessions up to 6%
These guidelines help borrowers re-enter the market sooner while rebuilding long-term wealth through real estate ownership. Our expertise in Non-QM financing allows us to evaluate borrower profiles that may include recent credit events, self-employment income, high debt ratios, investment properties, or unique documentation situations.
If you previously had credit issues stemming from bankruptcy or foreclosure, we can help. Contact us.
