Non-Prime Loan Program
Non-prime loan program are for those with either bad credit or no credit. Historically a non-prime loan will have a higher interest rate than conventional or FHA loans.
These are the non-prime loan program that United Mortgage Plus offers:
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Liberty Non-Prime Loan Program
- For Self-Employed Borrowers
- People who have had a foreclosure or bankruptcy
- People who have had a prior tax lien on a property
- Foreign Nationals up to 75% LTV/CLTV
- Investors with up to 20 properties
- Up to 80% Financing
- Up to $2 million on select products
- DTI up to %50
- Minimum 500 FICO
Portfolio Select/Alt-A
- Rates Starting In The 5’s
- Up To 90% LTV With No MI
- 2 Years Seasoning Foreclosure, Short Sale, BK, DIL
- Loans Up To $2 million (Minimum Loan $75,000)
- Credit Scores Down To 620
- Cash Out For Reserves OK
- Gift Funds Allowed
- DTI Up To 50% Considered
- Owner-Occupied, 2nd Homes, Investment Properties
- Interest Only Program Available
- 5/1 ARM Or 30-Year Fixed
- No Pre-Payment Penalty For Owner-Occ And 2nd Homes
- SFRs, Townhomes, Condos, 2-4 Units
- Seller Concessions To 6% (2% For Investment)
- Non-Warrantable Condos Considered
- Up To 100% Investor Concentration Allowed
Non-Prime/Recent Housing Event
- 1 Day Out Of Foreclosure, Short Sale, BK, DIL
- Rates Starting In The 5’s
- Loans Up To $1 Million (Over $1M Case By Case)
- Credit Scores Down To 500 (Including Jumbo Loans)
- Up To 85% LTV With No MI
- Mortgage Lates Are OK
- 100% Gift Funds Allowed
- DTI Up To 50% Considered
- Owner-Occupied, 2nd Homes, Investment Properties
- 5/1 ARM Or 30-Year Fixed
- No Pre-Payment For Owner-Occupied And 2nd Homes
- No Active Tradelines OK With Housing History
- SFRs, Townhomes, Condos, 2-4 Units
- Seller Concessions To 6% (2% For Investment)
- Non-Warrantable Condos Considered
- Up To 100% Investor Concentration Allowed
Bank Statement ARMs
- No Tax Returns/Transcripts Required
- 12 Month Bank Statements Now Available
- 24 Months Bank Statements (Personal Or Business)
- Loans Up To $2 million (Min Loan Amount $150,000)
- Credit Scores Down To 620
- Rates Starting In The Low 5’s
- Personal To 90% LTV (No MI), Business To 80% LTV
- DTI Above 35/43 Considered With 660+ Credit Score
- Owner-Occupied, 2nd Homes, Investment Properties
- 2 Years Seasoning Foreclosure, Short Sale, BK, DIL
- Non-Warrantable Condos considered
- 5/1 ARM Or 30-Year FixedGift Funds Allowed
- No Pre-Payment Penalty For Owner-Occ And 2nd Homes.
- SFRs, Townhomes, Condos, 2-4 Units
- Seller Concessions To 6% (2% For Investment)
