Non-Prime Loan Programs

Non-Prime Loans

Non-prime mortgages 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 programs that United Mortgage Plus offers:

Liberty Non-Prime 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

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

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

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 F

  • or Owner-Occ And 2nd Homes

  • SFRs, Townhomes, Condos, 2-4 Units

  • Seller Concessions To 6% (2% For Investment)

 

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