Embrace Home Loans has launched its new “beyond” mortgage program, which expands home-financing options to more borrowers. The program allows self-employed borrowers and borrowers with a FICO score as low as 580 to qualify for a mortgage. The program also shortens the period for borrowers to qualify for a mortgage following a bankruptcy or a foreclosure to only two years. Loans under the program can be obtained for up to $2 million in financing and can be used on non-warrantable condos.
Source: Mortgage Professional America