Unique Lending Products, Stated Income - Foreign Nationals, Etc.

Mortgage and Lending with ResMac Mortgage

The Extended Solutions Loan Program. 

ResMac Mortgage is committed to helping more Borrowers qualify for a mortgage. In today’s tough lending environment we say yes when every other lender says no. We have just expanded our Extended Solutions Loan Programs, which are designed to provide financing for non-conforming borrowers with reasonable terms of qualification. Whether it be a Foreign National program or a Stated Investment property, ResMac can help. Below are just some highlights of our expanded products.

 Credit scores to 560

 Loan amounts up to $1.5 million

 Stated Income Programs (self-employed borrower)

 Investor Programs (without GSE restrictions)

 Foreign National Program

 Debt ratio's to 40%

 Cash out allowed

 Condos and co-ops allowed

 Fixed and adjustable rate options (owner-occupied)

 Foreclosures (with two years seasoning)

 Short Sale/DIL

 Quick closings

 Loans to LLCs (with a personal guaranty)

 No pre-payment penalties

 Non-recourse

Target Borrower Segments  High-Net-Worth Bridge Loans – Borrower in need of short-term purchase money.

Low LTV, Low FICO Refinancing – Borrower with sufficient home equity, but unable to qualify for conventional financing.

First-Time, Non-Conforming Home Buyers – Borrower without minimum required credit score for a conventional loan and/or insufficient credit profile. Borrower has down payment funds and sufficient income.

Full Doc, Credit-Impaired Due To Recent Events – Includes borrowers unable to qualify for conventional financing because of recent foreclosure, serious delinquency, strategic default or one-time impairment. Borrower has sufficient income/down payment to support new loan, but will be graded for associate risk with focus on LTV.

Self-Employed Borrower With Verifiable Assets & Alternative Income – In addition to borrower’s profit and loss statements, tax returns and balance sheet, emphasis will be made on verifying income and cash flow of borrower’s business through bank statements and other records and accountant verification.

Short Refinance Loans Where Current Note Holder Purchased Via Distressed Deal – Borrower whose debt is owned by hedge funds or other principals, but who is eager to monetize assets and is willing to subsidize down payment through significant discounts of existing mortgage debt.

Investor Properties – Borrower with sufficient equity in a property, but cannot obtain conventional loan because of increasingly stringent investor underwriting.

Click here to view our ResMac Private Label Products matrix.

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