Credit Ascent Loan Program
Credit Ascent Loan Program from Verus
Our Credit Ascent Loan Program offers responsible solutions for credit-impaired borrowers.
As a mortgage lender, you need alternative lending solutions that meet the needs of all your creditworthy loan prospects. This includes borrowers who haven’t always had perfect credit.
At Verus Mortgage Capital, we understand the frustration that comes with having to walk away from lending opportunities. That’s why we’ve designed alternate solutions—programs that have enabled us to purchase billions in non-prime loans to date. In addition, our innovative non-QM loan programs give mortgage lenders the confidence they need to close loans, knowing they have a strong partner by their side.
Are you considering moving into the non-QM space? Your best chance for success lies in choosing an experienced partner dedicated to your success so you can provide innovative financing solutions that meet your borrowers’ needs.
More than anything, we want you to have more opportunities to say, “You’re approved!”
[Are you looking for a mortgage loan? Ask your mortgage lender to reach out to Verus Mortgage Capital to find out how they can use our Credit Ascent Loan Program to help you purchase your home.]
As we all know, people who need credit the most don’t always know they qualify for a non-QM product. Our Credit Ascent Loan Program provides financing to those borrowers who have less than perfect credit scores by focusing on their ability to repay and our common sense underwriting process.
And because not all customers will qualify for our Prime Ascent Loan Program, we offer another program for your other creditworthy borrowers.
Additionally, we understand that Covid-19 has impacted many individuals in our economy—and it may have affected the credit scores of your prospective borrowers. In some cases, those borrowers may find themselves as new small business owners or with non-traditional income due to layoffs or the closure of their previous employers.
The Credit Ascent Loan Program accepts both standard and alternative documentation to help underwrite borrowers. In addition, the standard and alternative loan documentation options will help both conventional and self-employed borrowers qualify.
Credit Ascent Loan Program parameters:
That’s why we’ve designed alternate solutions—loans that perform. For example, conventional Q4 2021 delinquencies were 4.65%; Non-QM delinquencies were only 2.2%.
Standard Documentation
- LTVs up to 85%
- FICOs down to 600
- DTI up to 50%
- Loan amounts from $150,000 to $3,000,000
- Interest-only available
- Cash-out options
ALTERNATIVE DOCUMENTATION
- LTVs up to 85%
- FICOs down to 600
- DTI up to 50%
- Loan amounts from $150,000 to $3,000,000
- Interest-only available
- Cash-out options
- 12-month and 24-month alternative documentation for self-employed borrowers
Why choose Verus? Our goal is to provide correspondent lenders with the training and resources they need to grow their businesses. At Verus, this is all we do. Our sole focus is to be the best non-QM loan partner you could have.
We believe, and our experience shows, that there are significant opportunities in the alternative lending space. Our commitment to you is to help you take advantage of those opportunities through responsible, non-prime mortgage loans.
We’ll also help you grow your non-QM mortgage loan volume by giving you full access to our tools and resources. For example, our “Test Your Scenario” tool shows you which of our alternative lending solutions you can use to best serve your prospective borrower. In addition, it will list all qualifying mortgage loan products and the requirements for each of them. You can then quickly and easily choose the program that best suits your prospect’s needs.
We also have a library of training videos covering topics like submitting required documentation and how to address pre- and post-close conditions. In addition, our resource library has the forms and instructions you’ll need to gather the required information, use our seller portal, and find the support you need.
Have questions? Contact us today. We’ll be happy to support you as you grow your mortgage loan volume.
Our Programs
Our non-QM programs break through the barriers that keep creditworthy borrowers from the financing they need, through proven processes and common-sense underwriting.