Fresh Start

This loan program is for borrowers who had a recent credit event (i.e., bankruptcy, foreclosure or short sale) and do not conform to the other agency guidelines.

Features and Benefits

  • No seasoning requirement for bankruptcy, foreclosure, deed-in-lieu of foreclosure or short sale
  • No mortgage or rental pay history required
  • Low minimum credit scores accepted
  • Single Family homes, condominiums, 2-4 units and Planned Unit Developments
  • Low down payment options
  • Fixed and adjustable rate mortgage available
  • No mortgage insurance
  • 15% down with a 660 FICO score
  • 25% with a 580 FICO score
  • FICO scores under 580 will be done on an exception basis
  • Gifts permitted

 

 

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PLEASE NOTE: LOAN PRODUCTS AND THEIR GUIDELINES CAN CHANGE AT ANY TIME.

DISCLAIMER: This is not an offer to make a loan or to make a loan on any particular terms. All loan applicants must qualify under underwriting requirements and satisfy all contingencies of loan approval. Rates and terms subject to change without notice. Norcom Mortgage NMLS ID # 71655 (www.nmlsconsumeraccess.org)