Portfolio Select Home Loan

The Right Fit For You?

Are you a homebuyer with prior circumstances that delay your qualifying under current loan guideline underwriting?

Since you may not qualify today for a traditional home loan, but in the near future your situation will improve, a Portfolio Select Home Loan might just be the mortgage tool for you. As a loan funded by an individual lender rather than a national agency, the rules of lending can be somewhat more relaxed. However, this is a full documentation mortgage so the borrower does have a requirement to submit all verifications. These can include income verification as well as prior loan history. As having a mortgage classification of Alt -A, portfolio select loans range between prime and subprime mortgages.

More Specifics on a Portfolio Select Home Loan:

  • Loan amounts up to $2.5 Million
  • Available for purchase, rate-term or cash-out refinance
  • Non-warrantable condos allowed
  • 1 year waiting period for foreclosure
  • 2 year waiting period for bankruptcy, deed-in-lieu, or short sale