Mortgage lender Embrace Home Loans has launched “beyond,” the company’s new mortgage program designed to help reach more underserved borrowers.
Under the beyond program, self-employed borrowers and borrowers with a FICO score as low as 580 may qualify for a mortgage. Borrowers may also qualify if only two years have passed since they experienced a bankruptcy or a foreclosure.
“We are thrilled to bring to market a loan product that helps more people achieve their dreams of homeownership,” says Embrace Home Loans CEO Dennis Hardiman. “beyond is more than a smart, timely response to today’s affordability challenges. By expanding homeownership opportunities, we’re helping more families attain long-term financial stability – and that’s what we are about.”
beyond loans can be obtained for up to $2 million in financing and can be used on non-warrantable condos, as well. The average Embrace loan closing period is 21 days – significantly shorter than the industry average of around 40 days.
Photo: Dennis Hardiman