Portfolio Loan
The Portfolio Loan Programs provide financing solutions for those who are unable to find options through the traditional loan product menu.
This may be the answer for borrowers with a “credit event” in their past, those who are self-employed and take advantage of today’s tax laws that minimize their taxable income, or for property investors in need of financing. Our portfolio loan products can be a game-changer and a clear differentiation from what other lenders can offer. Similar to old-school community bank lending, we listen to the full story, and take into consideration the borrower's entire situation.
Who Can Benefit from Portfolio Loan Products?
Self-Employed Borrowers
This Portfolio Loan Product is intended for the self-employed borrower who minimizes their tax exposure legally by taking advantage of today’s tax laws. This creates a challenge for self-employed homebuyers or homeowners to secure mortgage financing per traditional underwriting guidelines. Our portfolio program caters to the self-employed loan applicants financing needs through alternative guidelines that provide financing options not offered in traditional lending.
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Investors
The portfolio loan product is the perfect solution for a real estate investor looking to finance acquisitions, finance rehab/construction, or refinance investment properties. Our extended LTV rehab portfolio products are also great to secure construction financing for investors who need lending options for the purchase and rehab of their investment properties, regardless of whether they will be held or sold.
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Borrowers with Past Credit Events
We look at the overall picture of the borrower’s situation, gaining an understanding of what happened so we can individualize a plan to work with the borrower and help them purchase the home of their dreams. The Portfolio Loan Product is intended to be a short-term solution (1-3-5-7-+ years amortized over 30 years, if needed) to homeownership or home refinancing to help support a recovery from that life moment(s) out of our control that can devastate a person or family, even when it is just enough of an event to cause a blip.
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Portfolio Loan Advantages
- No mortgage insurance requirements
- Options for non-warrantable condos
- 12 and 24-month bank statement program for self-employed borrowers
- Story underwriting to provide solutions instead of denials
- In-house jumbo loans up to $2.4 million
- Residential property types: single family, 2-4 units, warrantable and non-warrantable condos, mixed-use
- Construction and rehab solutions for primary and non-owner occupied properties
- HELOC (Home Equity Line of Credit) and Fixed Rate Second Mortgage
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