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Home Key Program


If you have a troubled financial past and your credit rating has been impacted by your previous issues, you may be wondering if you have any options available to qualify for a home loan. At MortgageDepot we understand that credit issues are not always a sign of financial irresponsibility. Everything from job loss to a serious illness and more can result in a foreclosure, a bankruptcy, a short sale or other issues that have impacted your credit rating. While these issues can result in a decline with other loan programs, the Home Key program may be well-suited for you. This may provide you with the second chance that you need at home ownership.


What You Need to Know About This Program

This innovative financing solution is ideal for home purchases for borrowers with at least a 620 FICO. It is suited for loan amounts of up to $1.5 million and up to 75 percent loan-to-value. A qualified borrower can have up to a 50 percent debt-to-income ratio, which is very lenient. In addition, at least a year should have elapsed since the time of the last most significant credit issue, and the borrower should have re-established a positive credit history over the last 12 months. There are other requirements as well, and you can explore them in detail when you contact MortgageDepot.


Getting Pre-Qualified for Your Purchase Loan

If you are interested in buying a new home after a serious credit issue, the next step to take is to contact MortgageDepot to learn more about the program and to get pre-qualified. The pre-qualification process is rather straightforward and easy, and you could soon learn if you meet the requirements and guidelines in place for this program. By doing so, you could get the affirmation you need to start searching for a property that you are interested in buying.
Serious credit issues can seem like a major obstacle for you when you are thinking about buying a new home. While some loan programs may have requirements in place for re-establishing a much higher credit score, putting more money down on a purchase and more, you may love the fact that the Home Key program can give you the second chance that you are looking for. If it has been at least 12 months since your credit issues occurred, now may be the right time to contact MortgageDepot to learn more about your financing options available.

To contact us by phone please call 800–535-0270 or email us by clicking here.

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