Who do such mortgage products benefit?
The common process for securing a conventional mortgage involves jumping through a few hoops. This includes providing proof of earnings, scoring reasonably well on a credit check, and guaranteeing sufficient capital to put upfront as a down payment on a property.
Wouldn’t it be nice to avoid some of this hassle? With Alt-A mortgages, some lenders offer loans on the basis of much less personal financial information. So just what is an Alt-A mortgage?
What is an Alt-A mortgage?
Requirements include:
• No Income verification loans!
• 12 and 24 months bank statements
• Up to 90% LTV; The loan-to-value (LTV) ratio assesses the lending risk that a financial institutions or other lenders may take on when approving a mortgage.
• Primary, 2nd Home & Investment properties
• Up to $3 million loan amount
• Credit scores as low as 500
• Interest Only option available
• Non-warrantable condos available
• And More
Find out if I qualify for an ALT-A Mortgage loan!
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