Non-Prime Mortgage Lenders in Washington State
Today’s version of subprime mortgages are most commonly called “non-prime loans”. These loan products are also commonly referred to as “non-qualified mortgages“, as they do not meet the requirements of a prime mortgage loan. Technically, any mortgage that is issued to a borrower that does not meet these requirements is a non-prime loan. Whether someone says “non-prime mortgage”, “non-qualified mortgage”, or “subprime mortgage”, they are essentially talking about the same thing.
Non-prime mortgage loans are suited for people with various credit issues. This could range from bad credit for a variety of reasons, including a bankruptcy, foreclosure, or short sale. Also, some of these programs are useful for the self-employed who need to prove their income through a bank statement program instead of tax returns (which some refer to these bank statement programs as the new stated income loans.
The best non-prime mortgage lenders in Washington State are featured below. These lenders offer unique loan products to borrowers that do no qualify for a prime mortgage. This includes programs that accommodate to people with poor credit scores (as low as 500), major credit issues, and the self employed.
If you would like to learn more about these mortgage lenders, visit our lender overview page. You can view each lenders program details on their websites, including loan guidelines and requirements. Or, if you want us to help you identify the best lender for your personal situation, get in touch with us today. We would be glad to help!
Below is a list of the current non-prime mortgage lenders in Washington State:
These are just our top picks for non-prime lenders in Washington State. If you do not qualify for any of the loan products offered by these lenders, do not let that discourage you. We still may be able to help you find a lender that will offer you home financing. Just get in touch with us, and see what we can do for you!