Fresh Start may be the lending solution your borrowers with a previous bankruptcy or foreclosure need. The Fresh Start portfolio product from MortgageDepot is just that – it’s designed to help borrowers buy or refinance a home after having been forced into bankruptcy or foreclosure, but have since rebuilt their credit.

Below are a few points about the program, we do recommend contacting us directly for more information.

Fresh Start offers the following features and benefits:

  • LTV up to 85% financing, 15% down payment
  • No seasoning requirement for Bankruptcy, foreclosure, deed-in-lieu or short sale
  • No mortgage or rental pay history required
  • Minimum credit score 580
  • DTI up to 50%
  • Loan amounts from $100,000 to $1,000,000
  • Purchase money, rate term, and cash-out refinance
  • 100% gift funds from family members for down payment or reserves are allowed
  • $350,000 max cash back on cash-out refinancing transactions
  • 5/1 ARM and 30-year Fixed options available
  • No pre-payment penalties

Contact one of our loan consultants to learn more about this program.

Have questions or need help?

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