Subprime Loans With No Reserve Requirements
LENDERLINE® is currently offering subprime mortgages with no reserve requirements, under the following guidelines:
- The property must be located in the State of California.
- Credit scores as low as 500.
- No reserves required.
- Gift funds allowed for entire down payment and closing costs.
- Bankruptcy seasoning as low as 1 day.
- Foreclosure seasoning as low as 1 day.
- Deed-in-lieu of foreclosure seasoning as low as 1 day.
- Short sale seasoning as low as 1 day.
- Self-employed or W-2 wage-earners.
- W-2s and pay stubs only for wage-earners.
- 2 years tax returns and year-to-date profit and loss for full-doc self-employed.
- 24 months business or personal bank statements for alt-doc self-employed.
- Purchase, rate and term, or cash out refinance.
- Primary residence, second home or investment properties.
- SFR, PUD, condo, townhouse, condotel, rural properties and 2-4 units allowed.
- US citizens, permanent residents and ITIN workers allowed.
- Up to 50% debt-to-income ratio.
- $75,000 minimum loan amount.
- $5,000,000 maximum loan amount.
- 5/1 ARM, 7/1 ARM or 30-year fixed rate available.
- All loans require impounding of property taxes and hazard insurance.
- Interest-only option available (see underwriting guidelines and pricing adjustment).
- No prepayment penalty.
To download underwriting guidelines
for our Subprime mortgages with no
reserve requirements loan program:
LENDERLINE® is your subprime loans with no reserve requirement lender of choice. To apply for subprime loans with no reserve requirement call us today.
Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.