We offer Alternative Lending Solutions for our Borrowers
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(s), Bankruptcy(ies), Short Sale(s), late payment(s), collection(s), charge-off(s), 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. Non-Prime loans usually have increased rates of interest and costs for providing access to capital while providing the ability to participate in the economy and housing market. Non-Prime loans should only be looked at as a temporary solution to an immediate need.
Inherited Property Program
Better Business Bureau A+ Accredited -
Complaint Free Awards 2011, 2012, 2014, 2015, 2016 & 2017.
Over 300 - 5 star reviews on Google, BBB & Yelp and more.
Foreign National Partnership Program
Non Prime Program
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.
Second Chance Program
Non Prime Home Loans - (Alternative Mortgage Options)
Bank Statement Program
Alternative Lending Programs
At Smart Mortgage Centers we realize not everyone has perfect credit and we understand life happens. Additionally, not everyone can document their income in the narrow definition that government loans allow. Smart Mortgage Centers allows borrowers with a rougher than usual credit history to qualify for loans with terms that are fair and meet government lending criteria for Ability-to-Repay and government fee limitations.
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.
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
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
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
Smart Mortgage Centers offers mortgages that are designed to help people who have a tax id number (ITIN) but no social security number.
"Since 1997 we provide the highest 5 star customer service, lower rates and low to no closing cost options. Your home loan is handled with care from start to finish, assuring a smooth and enjoyable experience".
Vice President, Brian Birk
THE SMART GUARANTEE:
Alternative Lending Programs | Smart Mortgage Centers