Fresh Start Loan Benefits


Credit blunders can be lethal when attempting to qualify for a mortgage but with eCU Mortgage’s common sense approach to lending, borrowers aren’t limited by previous mistakes. If a borrower has credit issues due to an isolated event or does not have structured income but can documented in other ways, a portfolio loan can give them a second chance by considering other factors such as a higher down payment.

  1. Requires 20% down payment (minimum of 5% must be own funds)
  2. Loan amounts up to $424,100
  3. Lower or no scores may be accepted
  4. Purchase and rate-term refinance mortgages only
  5. Owner-occupied properties only
  6. Borrow must not own any other real estate
  7. Escrow account required