BACF has a number of loans now for consumers in special circumstances. Let's face it, the year 2008 was a bad year for all of us, and it stayed bad for years afterwards. A larger percentage of our population faced job loss, stock loss, and property value loss - often all at the same time. Many experienced foreclosures, short sales, and even bankruptcy. Here are some loans to help you get back on your feet:

  • Self employed 12 month bank statement program - where your bank deposits are used as income, rather than tax returns, or W2's and pay stubs. Requires a 680 FICO. 5 and 7 year ARM loans only. Rates in the low 6's for owner property, low 7's for investor. LTV typically to 75% - sometimes as high as 80%.
  • Stated ome program. Needs 700 FICO - self employed only. Rates in the high 4's to low 5's. LTV to only 70% - requires however about $100,000 in documentable reserves.
  • 1 day out of foreclosure - requires full documentation; rates in the high 5's to low 6's. LTV to as high as 80%. Needs 660 FICO.
  • 12 month bank statement program; needs 700 FICO. LTV to 75% with rates in the high 4's to low 5's.
  • 10+ financed properties; needs 700 FICO and 75% LTV. Requires 6 months reserves. Rates in the mid to higher 4's.
  • Foreign National; no FICO needed 60% LTV. Valid VISA required; 12 months reserves needed. Rates in the high 4's to low 5's.
  • Stated income foreign national needs 700 scores. Cash out OK, units OK, Investment OK. Rates start in the high fours. No 4506T, no W2, no taxes, no pay stubs.

Call please for more info. Rates are subject to change, and these rates and programs are subject to modification and adjustments depending upon your credit scores, circumstances, and LTV.


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