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Credit Scores starting at 680

Loans up to $1 million

Up to 80% LTV

Angel Oak Mortgage Solutions has set the standard in non-QM with our innovative programs designed to meet borrower’s unique circumstances. Our Non-Prime program offers a unique solution to help you quickly close loans for borrowers who may not meet standard Agency guidelines for financing.

  • Rates are 30-year fixed
  • 1 day out of foreclosure, short sale, bankruptcy or deed-in-lieu
  • DTI up to 50% considered
  • Owner-occupied, 2nd homes, and investment properties
  • Non-warrantable condos considered
  • No pre-payment penalty for owner occupied or 2nd homes
  • No active tradelines OK with housing history
  • Single family rentals, townhomes, condos, 2-4 units
  • Seller concessions to 6% (3% for investment)

Loan Scenario

Non-QM is a great way to help a borrower on the road to financial health. Our Non-Prime product came to the rescue for a borrower who needed a cash-out refinance. They had a mid-score of 560 and high balances on credit cards. Their 401K had to be liquidated after their spouse passed away after enduring a long illness. The cash-out refinance allowed them to pay off a first and second mortgage plus $42,000 in consumer revolving and installment debts. Along with helping them pay off all of their debt we waived the reserves entirely. This very grateful borrower ended up with significant savings each month!

What is a non-prime mortgage?
Non-prime is a term for loans that do not fit into the restraints of government lending requirements. These loans are ideal for borrowers who have had recent credit events, such as a foreclosure, bankruptcy, or short sale that have caused lower credit scores.
Can I get a mortgage with a bad credit score?
Yes, Angel Oak offers non-prime mortgage programs for borrowers with bad credit scores provided the borrower can show a documented ability to repay. Bad credit scores can be caused by a multitude of major life events that may be outside of a borrower’s control, such as a natural disaster, health or family emergency, and may not actually represent a potential borrower’s credit worthiness.
Does AOMS offer conventional / government mortgage programs?
No, Angel Oak Mortgage Solutions offers exclusively non-QM loan programs that fall outside of the guidelines for conventional and government mortgage programs. Our non-agency products are designed for borrowers who are self-employed, purchasing a home over conforming price limits, or who may have had a credit event that caused their credit score to decrease.