We recently had the mortgage lender, Southwest Mortgage Partners, offer our clients a hard money 2nd mortgage with only 3% down. This type of financing was once known as a nonconforming loan but has been unavailable for two years until now. We are finally in a position to assist borrowers with damaged credit scores and buyers that couldn’t qualify for regular Conventional/FHA financing.

This new program will allow buyers to purchase a home with 3% down, through hard money financing. The loan will be arranged as an 70/27. The first mortgage will be at a 70% ltv with rates averaging 10% interest only. The second mortgage will be a silent mortgage with no payments due until the home is refinanced or title is conveyed. For more information on this type of financing, please contact us. ( Down payment must be 3% or 5k which ever is greater. Funds must be seasoned for 2 months )