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:

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    Type of Mortgage You're Interested In
    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

    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)

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