America's Best Choice Financial Group


Is your client’s FICO score under 600? Non-prime borrowers typically have FICO scores under 600. There has been a great deal of change in what we call “INVESTOR APPETITE” for these loans. Because of these changes, we have limited the non-prime products we have available. Therefore, non-prime loans have a much higher interest rate. Our non-prime products have changed due to the secondary market. Please contact us at info@abcfgroup.com or your local Account Executive. Click here to request details
Because mortgage loans are secured loans to the value of the house that they are associated with, you can still qualify to purchase if you can meet some basic qualifications. All lenders are different but some things that we look at include the following: • Do you have steady, verifiable income that shows that you can afford to make a mortgage payment as well as make all current debts that you owe? • Is your credit score going down or up? Working on improving your score with a path moving up will show that you are working on becoming less of a risk. • Make regular payments on secured loans. Loans that are secured including current mortgages and car payments show that you are responsible in this area.	About the approval process Getting approved for a sub prime or non prime mortgage loan is a process of simply proving that you can afford to make the payments and that the home you are purchasing is worth what you are paying. Improving your odds Having references, co- signers and having a down payment can also improve your ability to secure this type of loan as well, although they may not be mandatory, depending on where your credit score is.