Non-Prime Home Loans in Glendale Heights Illinois

Smart Mortgage Centers offers alternative lending programs to help borrowers who may not meet general Agency financing guidelines.

Glendale Heights, Illinois 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 Foreclosures, Bankruptcies, Short Sales, late payments, collections, charge-offs, 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 in Glendale Heights should only be looked at as a temporary solution to an immediate need.

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. Find a , Illinois Non Prime Mortgage Broker Now.

Apply now for a Non-Prime Home Loan

Talk to a Non-Prime Mortgage Broker in Glendale Heights IL 888-882-1058

Glendale Heights Non-Prime Lending Programs

Glendale Heights Non-Prime Programs

Rates starting in the low 5’s
1 day out of foreclosure, short sale, bankruptcy or deed-in-lieu
Loans up to $1 million
Credit scores down to 500
Up to 90% LTV
DTI up to 50% considered
Owner-occupied, 2nd homes, and investment properties
Non-warrantable condos considered
Jumbo loans down to 500 score
5/1 ARM or 30-year fixed
No pre-payment penalty for owner-occ and 2nd homes
No active tradelines OK with housing history
SFRs, townhomes, condos, 2-4 units
Seller concessions to 6% (2% for investment)

Glendale Heights Bank Statement Programs

No tax returns required
12 month personal bank statements
24 month business bank statements
Loans up to $3 million
Credit scores down to 620
Rates starting in the low 5’s
Up to 90% LTV on Personal and Business
DTI up to 50% considered
Owner-occupied, 2nd homes and investment properties
2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
Non-warrantable condos considered
Jumbo loans down to 660 score
5/1 ARM or 30-year fixed
No pre-payment penalty for owner-occ and 2nd homes
Seller concessions to 6% (2% for investment)
2 year self-employed required

Glendale Heights Second Chance Program

Second Chance Program Highlights
Up To 80% Ltv
No Minimum Credit Score
Full Doc Only-43% DTI
Bankruptcy, Foreclosure And Short Sales Are Ok
Deferred Maintenance Is Acceptable On Purchases
Up To 7% Seller Help Allowed
Gift Funds Are Acceptable
Need 2 Months PITI Post-Closing
May Consider 1st Time Homebuyer With Larger Down Payment

Inherited Property 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.

Up To 80% LTV & Up To 5 Year Term
No Minimum Credit Score
Future Value of Rental Income Considered
Bankruptcy, Foreclosure And Short Sales Are Ok
Deferred Maintenance Is Acceptable
Debt Consolidation Allowed
Rehab Money Escrow for Future Value to Sell Available
Refinancing of Reverse Mortgages Available

Glendale Heights Foreign National Partnership Program

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. Documentation – 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 Assets – 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 Credit – 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

Glendale Heights ITIN Loans

Smart Mortgage Centers offers mortgages that are designed to help people who have a tax id number (ITIN) but no social security number. Program 1

Minimum Down Payment of 15% is Required
Use Tax Return or Bank Statements to Document Income
Most Property Types Accepted
Gift Funds Allowed
Quick Closings
Fixed Rate Mortgage with 15, 20, or 30 Year Term

Program 2

Purchase, Refinance, Investment Properties
20% Down Payment (Gift allowed) Call for details
2 Years Tax Returns
2 Years W2 or 1099
3 Months Bank Statements
Passport, ITIN Card, Drivers License

Glendale Heights is a village in DuPage County, Illinois, United States. The population was 34,208 at the 2010 census. It is best known nationally as the hometown of Smashing Pumpkins founder Billy Corgan, but known more locally for its ethnically diverse population. The town elected Dupage County’s first Asian mayor in 1995.[4]

Glendale Heights was a small farming area served by the Glen Ellyn post office up until the 1950s, with a population of just 104 in 1959.[5] Midland Enterprises ran by Charles and Harold Reskin started building houses in Glendale Heights in 1958. The Reskins bought two farms on Glen Ellyn Road north of North Avenue. Houses were first built on Glen Ellyn Road and Larry Lane near Fullerton Avenue. On June 16, 1959, a petition was filed and on July 13, the village became incorporated. The first election was held later on that summer on August 2.