To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, current Tri-Merge Credit Report and appraisal, if available.
For a Rate and Fees quote call
800-390-7536
Brokered Alternative Residential Loans
This program is designed for Borrowers looking to purchase or refinance a Non-Owner Occupied or Investment property. We offer non-qualified, bank statement, weak credit and unique property mortgage loans to Borrowers who may not qualify for a conventional mortgage loan. Loans are evaluated on a case by case basis subject to full review of the Borrower’s qualifications (ie: income, assets, credit and loan to value). We pride ourselves on prompt decisions to provide Borrowers with confidence to achieve their goals. Conventional market rates do not apply.
Non-Prime Loan Programs are available for Borrowers with:
1) Less than perfect credit who have experienced credit problems and have resolved the problems for the future.
2) Alternative income verification that can prove income through corporate finance statements, bank statements, etc., other than W2.
General Guidelines*
- Loan Amounts: $95,000 to $2,500,000
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Maximum Loan to Value: 75% (subject to the number of units, loan size, loan term, credit score and income)
- 1 to 4 family homes preferred; 5+ units are case by case decisions.
- Compensating factors taken into consideration
- Recent bankruptcy or late mortgage payments are not automatic declines
- 1 to 5 year terms available (conventional market rates do not apply)
*All rates and terms subject to change without notice
Rates and Fees
(Based on credit score, income, savings and LTV) - Rates: Prime Rate plus 2.50% to 4.50%+
- Loan Fee: 1.25% to 2.00%
- Application Fee: $295
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $425
- Maximum Broker Fee: 1.00% (subject to Broker Compensation option)