Second Chance Portfolio Loan

We have access to Portfolio Lenders who believe in providing loans to individuals who have endured financial hardship.  Examples of loans that we do that others won't: 

  • Bankruptcy
  • Foreclosure
  • Short Sale
  • List Item
  • Mobile Homes
  • Medical Collections

We don't just act as mortgage brokers; we pride ourselves on being adept problem solvers, especially when it comes to unique circumstances.  Whether you're dealing with years of unfiled tax returns, employment history gaps, or medical related credit issues, don't lose hope.  Even if traditional benders have rejected you, there's a strong chance we can tailor a mortgage program to suit your requirements, whether it's refinancing for better terms or lower payments, or fulfilling your dream of owning a home.

Lenders willing to take some risk and give you a second chance through a Portfolio Loan Program.  But these loans are riskier than conventional loans, so the loans are carefully underwritten.  What does that mean to you?  We do not offer mortgage pre-qualification or mortgage pre-approvals on Second Chance Loans because we need to see a full application, income verification and credit report in order to price the loan. A letter of explanation with supporting details for the credit issues is required.  The loan package goes through a preliminary review prior to submission to a Loan Committee for preliminary credit approval. But our conditional approval requirements are very reasonable. 

1 day from Foreclosure, Bankruptcy or Short Sale with a reasonable explanation for delinquency due to job loss or illness.  Program down payment based on credit score and minimum 10% downpayment, Fico score 680+, No mortgage insurance

1 day from Foreclosure, Bankruptcy or Short Sale requires a 20% down payment, Fico score 580+, 1 x30 day mortgage laote ok

 We can help you structure a plan to purchase or refinance your NJ or NY dream home.  Reach out to us today at 908-722-9217 to start a conversation about your situation.  Contact by email.

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