What is the Flexible Credit Loan?

The Flexible Credit Home Loan Program is a revolutionary home loan program that is catered to those who were affected by the recession. Currently offered by the CFS Mortgage Corporation, this program is available to residents of Arizona and Southern California.

What are the highlights of the Flexible Credit Program?

  • 1 day after Foreclosure or Short Sale
  • 6 months after Bankruptcy discharge
  • 25% Down Payment Requirement
  • Down Payment can be gift
  • 600 Minimum FICO Score
  • $100,000 Minimum Loan Amount
  • Jumbo Loan Amounts to $1M
  • 6 month cash reserves after closing (of payments)
  • Primary Residence only

How does the Flexible Credit Home Loan Assist Previous Homeowners?

This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
The vast majority of banks and credit unions in the United States are refusing to lend to people who have less than perfect credit. Normally, potential borrowers must have at least a 700 FICO score to qualify for a mortgage. This is not the case with the CFS Mortgage Corporation.
CFS Mortgage understands the situation that many people currently find themselves in. The recession hit the country hard and jobs were lost at an alarming rate. While the economy is slowly recovering, much of the population still needs help. That’s where CFS Mortgage comes in.

What are the Minimum Requirements for the Flexible Credit Loan?

This program is perfect for individuals looking to become homeowners again. Potential borrowers must allow at least one day to pass after a short sale has been completed or the foreclosure process has ended. Those who have recently emerged from bankruptcy must wait at least six months before applying for this mortgage program.
Before filling out an application, potential borrowers should have a minimum of six months worth of payment reserves in their bank account. This is to ensure that borrowers can pay their loan payments should anything happen during the mortgage period.
When searching for a home, make sure that the minimum loan amount is $100,000. On top of that, borrowers should also be prepared to make a 25 percent down payment on their new property. The property you choose for the Flexible Credit Home Loan Program must be your primary residence. No condos, commercial properties or secondary residences are allowed.
Lastly, check your credit to make sure you’re FICO score is at least 600.

The Best Alternative to Renting

Many folks who emerge from bankruptcy or foreclosure assume that they will only be able to rent an apartment. A Flexible Credit Loan gives potential borrowers a second chance at home ownership.

Apply For the Flexible Credit Program Today!

Recent Short Sales or Foreclosures don’t have to stop you from owning a home.

CFS Mortgage | San Diego

CFS Mortgage Corporation

12707 High Bluff Dr., Ste 200, San Diego, CA 92130

Email: [email protected]

Phone: 858.922.4709
Andy Brown, CMPS ®  Branch Manager | NMLS#968938   

To get started with the County Properties Team on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 540-5811.
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