Non-Prime Home Loans in Kildeer Illinois

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

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

Kildeer Non-Prime Lending Programs

Kildeer 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)

Kildeer 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

Kildeer 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

Kildeer 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

Kildeer 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

Kildeer is a village in southwestern Lake County, Illinois, United States, and a North Shore suburb of Chicago. The population was 3,968 at the 2010 census.[3] It has limited development to custom homes on large lots, and has worked to preserve natural features and open space.

This area was largely rural and made up of farms and undeveloped lands until after World War II. Increased population and pent-up demand for housing resulted in new suburban development outside many major cities, aided by federal investment in highways that eased commuting to work. Lake County began to prepare by paving its roads and improving some. The Kildeer area began to attract persons who wanted to live a relatively rural life. In 1951 Quentin Road was realigned, removing the four right-angle turns, and substituting a smooth curve north from Rand Road. In 1952 its entire length was paved.