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Traditions mortgage—port saint lucie mortgage—port saint lucie mortgages

Sub Prime Lending

772-344-8200  1-888-537-7896   1-888-LESS TWO

To contact us:

Sub Prime loans are designed for Borrowers with less than average credit. They may have gone through a divorce, job loss, personal or family illness, failure or self employed business, bankruptcy, loss of job, or other personal tragedy that affected their finances.

 

Overview:

 

Unlimited 30 and 60 day mortgage Lates Allowed

12 Month Bank Statement same a full doc (100% of typical deposits) W2 or self employed

Up to 55% debt to income ratio (primary and second homes)

6 Months Cash out refinance off newly appraised value

No reserves required <$550k

No seasoning of assets or funds to close if less than $15k is needed

6% Seller Paid Closing Costs allowed

Up to 95% Loan to Value allowed

Collections less than 12 months and / or < $7,500 may remain unpaid

24 Months after Foreclosure

Bankruptcy Buyouts up to 90% Loan to Value

30 or 40 year terms and Interest only available

 

Full Documentation Primary Residence

 

95% Loan to Value with a 590 Mid FICO Score

90% Loan to Value with a 560 Mid FICO Score

90% Loan to Value with a 560 Mid FICO Score

 

Full Documentation Secondary Residence

 

90% Loan to Value with a 680 Mid FICO Score

85% Loan to Value with a 650 Mid FICO Score

80% Loan to Value with a 620 Mid FICO Score

 

Full Documentation Investment Properties

 

90% Loan to Value with a 680 Mid FICO Score

85% Loan to Value with a 650 Mid FICO Score

80% Loan to Value with a 620 Mid FICO Score

 

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