Non Prime

How we can help

For over 20 years Nationwide Mortgage has been helping borrower’s purchase and refinance their properties. Non Prime, or what is thought of as, “Hard Money” is primarily for consumers with one of the two circumstances.

Credit Challenges

Credit scores can be reduced for many reasons including late payment history, how much of your available credit is being used, Bankruptcy, Foreclosure, or Short Sales.

Inability to document Income With Traditional Documentation.

Although their income may be sufficient to qualify, a Borrower may not have the traditional income documentation like tax returns to support this income.  These loan products may have a higher interest rate, more points or more fees than other products requiring documentation.  But they can use Bank Statements in lieu of tax returns to demonstrate income.  

Here are some examples of loans that we offer, and the general guidelines that pertain to them.

Bank Statement Program

Personal or Business bank statements can be provided instead of providing traditional income documentation like tax returns.  This program is for Self Employed Borrower’s only.

Here is an example of a loan that funded 2/2021

  • Interest Rate: 4.000% APR: 4.036%
  • Loan Amount: $500,000
  • FICO: 735
  • Term: 30 year Fixed rate 1st Trust Deed.
  • Loan-to-Value: of 75%
  • Income Documents: 12 months Personal Bank Statements
  • Property type: Condo, Primary Residence
  • Mortgage Payment: $2,387 Principle and Interest.  Did not include tax or Hazard Insurance.

General Guidelines

  • FICO: 600+
  • Term: 30-Year Amortized & Term – 7/1 Hybrid ARM or 30-Yr Fixed
  • Property Types: 1-4 Unit Single Family Residences, Condominiums and Townhomes
  • Debt-To- Income: Max of 50%
  • Pre-Payment Penalty: None
  • Impounds Required: Yes

Credit Challenges 

Here is an example of a loan that funded 3/2021

  • Interest rate: 6.875% / APR 6.922%
  • Right after a Forbearance 
  • Loan Amount: $685,750
  • Credit Score: 600
  • Origination Fee: This was a 0 point loan, that had a broker, lender fee, and third party fees like Title, Escrow, and Appraisal.
  • Term: 30 year fixed loan in the 1st position.
  • Loan-to-Value: 65%
  • Property Type & Occupancy: Detached PUD, Owner Occupied.

General Guidelines

    • Loan Amounts: $75,000 to $3,000,000. Additional restrictions and additional costs will apply to higher loan amounts.
    • FICO: From 580
    • Property Types: 1-4 Unit Single Family Residences, & Condominiums.
    • Max Debt to Income Ratio of 50%
    • No Pre-Payment Penalty
    • Impounded tax and insurance is Required
    • 1st Lien Position



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