Portfolio Select (Challenged Credit)

Credit worthy borrowers who have recovered from credit events no longer have to wait seven years to purchase or refinance! This loan allows just one year seasoning for foreclosure, short sale, deed-in-lieu and just two years seasoning for bankruptcy. For borrowers shut out of Agency guidelines. This full doc loan solution helps more borrowers achieve their financial goals through a home purchase or refinance. 

• Loans up to $2.5 million with a minimum of $125,000.

• Purchase and cash-out or rate-term refinance.

• Owner-occupied, second homes, and investment properties.

• One year seasoning for foreclosure, short sale or deed-in-lieu.

• Two years' seasoning for bankruptcy, can use chapter 13 filing date.

• Pricing based on primary wage earner’s middle FICO score.

• Up to 50% DTI.

• Full documentation loan.

• Gift funds allowed.

• Minimum 640 Credit, 75% LTV.

• Maximum 85% LTV with 700+ Credit.