Introducing Our No Minimum FICO Score Mortgage Program: A Flexible Alternative to Hard Money Loans
We are excited to introduce our innovative No Minimum FICO Score Mortgage Program, designed to provide a flexible and accessible alternative to traditional hard money loans. This program is tailored to meet the needs of a diverse range of property investors, offering unique benefits and opportunities.
No Minimum FICO Score Program
- No Minimum FICO Score Requirement: Unlike conventional mortgage programs that often require a high credit score, our program eliminates this barrier, making it accessible to a broader audience. This feature is particularly beneficial for individuals who have faced credit challenges in the past but are ready to invest in real estate.
- Maximum Loan-to-Value (LTV) Ratio of 50%: While the program offers flexibility in terms of credit requirements, it maintains a conservative approach with a maximum LTV of 50%. This ensures that both the lender and borrower are protected, promoting responsible lending practices.
- Credit Report Still Required: Although there is no minimum FICO score, a credit report is still necessary. This allows us to assess the overall financial health of the borrower and tailor the loan terms accordingly.
- Diverse Property Types Eligible: Our program supports a wide range of property types, including 1-4 family investment properties, mixed-use buildings, multi-family units, retail spaces, offices, warehouses, and automotive properties (excluding gas stations). This diversity provides investors with numerous opportunities to expand their portfolios.
- No Seasoning Requirement: We understand that financial setbacks can happen. Therefore, our program does not require seasoning on bankruptcy discharges, prior foreclosures, or derogatory mortgage history. This means that even if you have faced these challenges, you can still qualify for our mortgage program.
- Current Mortgages Must Be Up-to-Date: To qualify, all existing mortgages must be current at the time of loan submission. This ensures that borrowers are in a stable financial position to take on new investment opportunities.
- No Payoff Required for Judgments, Charge-Offs, and Collections: Our program does not require the payoff of judgments, charge-offs, or collections, providing further flexibility for borrowers who may have outstanding financial obligations.
- No Minimum Tradelines Requirement: We do not impose a minimum tradelines requirement, allowing borrowers with limited credit history to still qualify for the program.
- Federal Tax Liens Must Be Paid: While we offer flexibility in many areas, any federal tax liens must be settled to qualify for the program. This ensures compliance with federal regulations and promotes financial responsibility.
This program is an excellent alternative to hard money loans, offering competitive terms and a more structured approach to real estate financing. By removing the minimum FICO score requirement, we open the door to a wider range of investors, empowering them to seize new opportunities in the real estate market.
Contact us to learn more about how this program can work for you.
