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Dan the loanman

2nd Chance at Homeownership Via Home Key

Monday, November 10, 2014 - Article by: Dan the loanman - E Mortgage Capital, Inc. - Message

A Second Chance at Homeownership

Positive change is possible with our Home Key credit event product. Now you can get a second chance at homeownership even with a history of bankruptcy, foreclosure, or short sale. Home Key accepts and who do not meet agency(Fannie - Freddie) guidelines, but demonstrate a willingness to grow as a homeowner.

Home Key Highlights

  • FICO starting at 620
  • Higher DTI offering up to 50%those who have suffered a mortgage credit event
  • 12 month seasoning on derogatory credit waiting periods.
  • Projected income for new job that starts after closing is allowed
  • A previous modified mortgage IS permitted
  • Prior mortgage-related delinquencies or derogatories may be considered on a case by case basis


Purchase and Rate & Term Refinance up to $1,500,00

  • Fico 700+ = DTI to 50% - Owner Occupied - LTV/CLTV/HCLTV 75% Max
  • Fico 620 - 699 = DTI to 45% - Owner Occupied - LTV/CLTV/HCLTV 70% Max

Cash Out refinance to $1,500,000

  • Fico 720+ = DTI to 50% - Owner Occupied - LTV/CLTV/HCLTV 75% Max
  • Fico 700 - 719 = DTI to 45% - Owner Occupied - LTV/CLTV/HCLTV 65% Max
  • Fico 640 - 600 = DTI to 45% - Owner Occupied - LTV/CLTV/HCLTV 60% Max

All rates and programs are subject to change without notice. This is not an offer for extension of credit or a commitment to lend as defined by REGZ. NMLS#1788 Licensed in CA by the Dept of Business Oversight under the Residential Mortgage Lenders Act#4170015, Not licensed in the State Of New York

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