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Non-Prime Mortgage Loans

Learn about the requirements to get a non-prime loan,
and get matched with a non-prime mortgage lender

Non-Prime Loans

On this page you can learn all about non-prime loans.  This includes some general information on the requirements to get a non-prime loan, who offers these programs, and some frequently asked questions about non-prime loans.

What is a Non-Prime Loan?

Non-prime loans are mortgage programs that are available to borrowers with various credit issues.  These programs are useful for people who are unable to qualify for a conventional loan or FHA loan.  Non-prime loans allow you to qualify with a credit score as low as 500.  There are also no waiting periods after a bankruptcy, foreclosure, or short sale.

Non-Prime Loan Requirements

The requirements to get a non-prime loan depend on the mortgage lender.  Most non-prime lenders have a minimum credit score requirement of 500 (and some will allow sub-500 credit scores, or even no credit score at all).

The minimum down payment requirement will depend on the specific non-prime lender’s guidelines.  Most non-prime lenders require at least a 10% down payment.

Who Offers Non-Prime Loans?

In order to get a non-prime loan you will need to use a non-prime mortgage lender.  Not all mortgage lenders offer non-prime loans.  If you would like some assistance finding a lender that offers non-prime loans in your location, we can help match you with a lender.

Click here to get matched with a non-prime lender

Frequently Asked Questions

Are non-prime loans the same as hard money loans?
No, non-prime loans are not the same as hard money loans.

Are non-prime loans the same as subprime mortgages?
No, non-prime loans are not the same as subprime mortgages. The subprime loans that existed prior to the housing crash no longer exist. The non-prime loan programs available today…

Do stated income loans still exist?
The stated income loan programs that allowed a borrower to state their income without providing any proof of their income no longer exist. What are available for self-employed borrowers are “bank statement loans”, which allow a borrowers to prove their income using their bank statements (in lieu of tax returns).

How do I know if I am eligible for a non-prime loan?
It is easy to find out if you qualify for a non-prime loan.  A mortgage lender can help you check your eligibility for a non-prime loan.  Would you like some assistance finding a non-prime lender?  We can help match you with a lender that offers non-prime loans in your location.  To have a mortgage lender contact you, request a free consultation.

Is down payment assistance available for non-prime loans?
It is unlikely that a non-prime lender will allow down payment assistance to be used (and most down payment assistance programs can only be used with conventional and FHA loans). If you are interested in getting down payment assistance, you will want to see if you are eligible for a conventional or FHA loan.

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