Get Pre-Approved!

    Once this form is completed you will have the option to start your application.

    Thank you for choosing Smart Mortgage Center, Inc.

    Non Prime or Alternative Lending
    Smart Mortgage Centers offers alternative lending programs to help borrowers who may not meet general Agency financing guidelines.
    Non-Prime loans are also known as temporary or fixer loans for borrowers who are on their way to Prime but need a little help before they qualify. Non-Prime loans characteristically are made to borrowers who have had a past credit event or events in the form of Foreclosure, Bankruptcy, Short Sale, late payment, collection, charge-off, etc. Additionally, a borrower seeking a Non-Prime loan can use alternative documentation to qualify, in form of bank statements, liquid assets, and other forms of income not typically accepted by government lending criteria.
    Alternative Lending Options

    Click the Program to learn more.

     

    • 1 day out of foreclosure, short sale, bankruptcy or deed-in-lieu
    • Loans up to $1 million
    • Credit scores down to 500
    • Up to 90% LTV
    • DTI up to 50% considered
    • Owner-occupied, 2nd homes, and investment properties
    • Non-warrantable condos considered
    • Jumbo loans down to 500 score
    • 5/1 ARM or 30-year fixed
    • No pre-payment penalty for owner-occ and 2nd homes
    • No active tradelines OK with housing history
    • SFRs, townhomes, condos, 2-4 units
    • Seller concessions to 6% (2% for investment)
    • No tax returns required
    • 12 month personal bank statements
    • 24 month business bank statements
    • Loans up to $3 million
    • Credit scores down to 620
    • Rates starting in the low 5’s
    • Up to 90% LTV on Personal and Business
    • DTI up to 50% considered
    • Owner-occupied, 2nd homes and investment properties
    • 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
    • Non-warrantable condos considered
    • Jumbo loans down to 660 score
    • 5/1 ARM or 30-year fixed
    • No pre-payment penalty for owner-occ and 2nd homes
    • Seller concessions to 6% (2% for investment)
    • 2 year self-employed required

    Smart Mortgage Centers offers mortgages that are designed to help people who have a tax id number (ITIN) but no social security number.

    Program 1

    • Minimum Down Payment of 15% is Required
    • Use Tax Return or Bank Statements to Document Income
    • Most Property Types Accepted
    • Gift Funds Allowed
    • Quick Closings
    • Fixed Rate Mortgage with 15, 20, or 30 Year Term

    Program 2

    • Purchase, Refinance, Investment Properties
    • 20% Down Payment (Gift allowed) Call for details
    • 2 Years Tax Returns
    • 2 Years W2 or 1099
    • 3 Months Bank Statements
    • Passport, ITIN Card, Drivers License

    General Requirements – Max LTV 75% Max Loan Amount $1,000,000 Qualify at 640 FICO score Designed for experienced investors.

    Income and employment are not verified.Documentation – Copies of the borrower’s passport and unexpired visa must be obtained The following visa types are accepted for foreign nationals: – B-1 and B-2, H-2 and H-3, I, J-1 and J-2, O-2, P-1 and P-2 Assets –

    NO Reserves required Funds for down payment and closing costs must be sourced or seasoned for 60 days – Must be in US depository for 30 days prior to closing Credit – 3 open accounts with a 2-year history Letters of reference allowed 2-year housing history can be used as tradeline **All documents must be translated by a certified translator

    • Second Chance Program Highlights
    • Up To 80% Ltv
    • No Minimum Credit Score
    • Full Doc Only-43% DTI
    • Bankruptcy, Foreclosure And Short Sales Are Ok
    • Deferred Maintenance Is Acceptable On Purchases
    • Up To 7% Seller Help Allowed
    • Gift Funds Are Acceptable
    • Need 2 Months PITI Post-Closing
    • May Consider 1st Time Homebuyer With Larger Down Payment
    Losing a family member is difficult, but keeping a home in the family after a loss should not be.Whether you need funds for repairs, the buy out of another heir or cash out, we have a solution.
    • Up To 80% LTV & Up To 5 Year Term
    • No Minimum Credit Score
    • Future Value of Rental Income Considered
    • Bankruptcy, Foreclosure And Short Sales Are Ok
    • Deferred Maintenance Is Acceptable
    • Debt Consolidation Allowed
    • Rehab Money Escrow for Future Value to Sell Available
    • Refinancing of Reverse Mortgages Available

    Thousands of consumers across the United States are ready for home ownership.  Securing the right home loan doesn’t have to be hard, we have solutions for clients who need to prove their income by way of bank statements. To help home buyers overcome challenges we offer more programs and the extra benefit of wholesale rates.  We simplify the home buying and refinancing challenges presented by 2024 mortgage guidelines. Our mission is to get you approved for a non prime mortgage and into your home with payments you can afford. Even if you think you won’t qualify, our highly trained specialists will work with you closely on an individual basis to:

    • Review your finances to find a payment you can afford.
    • Improve your credit score if needed to qualify.
    • Obtain pre-approval to shop for an eligible Home.
    • Secure a loan and purchase your new home!
    Working around Credit Issues with Top Rated Specialists

    Our Alternative Lending team is celebrating its 27th year in business.  Our experience allows for consumer mortgage confidence especially with home buyers needing non traditional lending.  We navigate consumers through the mortgage process,  explain options and find what choice works best for you. We specialize in more than just alternative mortgage loans.  Check out consumer FHA Mortgage options, VA Mortgage Options and our Construction Home loan options.

    Get on the Path to Buying or Refinancing. We got your Back!
    Get into a New Home
    Get Pre-Qualified Now

      Once this form is completed you will have the option to start your application.

      Thank you for choosing Smart Mortgage Center, Inc.

      Non Prime Benefits
      • Bank Statements (12 – 24 Months)
      • 1 Month Bank Statement Program
      • Lower Credit Scores can Quality
      • Lower Rates
      • 30 Year Terms

      Find your FHA Mortgage Now (888)842-7272.

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