First National Bank of America offers several unique loan products to assist borrowers that may have difficulties qualifying for traditional mortgage programs.
First National Bank of America – Loan Products
Below are some of the loan programs that First National Bank of America offers:
Previous Credit Event
If you have had a recent bankruptcy or foreclosure, this program may help you get the mortgage you need. You may be able to qualify for a mortgage even just 1 month after such an event.
Highlights of this program:
- Minimum down payment of 15%.
- Gift funds for down payment allowed.
- Qualify using tax returns or bank statements to prove income.
- DTI ratios up to 55% are allowed.
- Most types of properties are eligible.
Bank Statement Program
This program is intended for self-employed borrowers who need to prove their income using bank statements instead of tax returns.
Highlights of this program:
- Use either 12 or 24 months worth of bank statements.
- No minimum loan amount.
- DTI ratios up to 55% are accepted.
- Maximum LTV of 85%.
- Gift funds for down payment allowed.
- Most property types are accepted.
- 15, 20, and 30 year fixed rate mortgages available.
ITIN Mortgage Loans
This loan program is designed to help borrowers who have a tax ID number, but no social security number.
Highlights of this program:
- LTV ratios up to 85%.
- DTI ratios up to 55%.
- Gift funds allowed.
- Most property types are accepted.
- May use bank statements to prove income (12 or 24 months).
You may contact First National Bank directly to find out if you qualify for a mortgage. We can also help connect you with a non-prime mortgage lender that may be able to help you. Simply get in touch with us via our contact form, and we will do our best to connect with you the best lender for your unique situation.