Looking for non FICO based loans

Looking for non FICO based loans for NC. I did a deal a while back and had someone cheat me out (steal) a lot of money from me. I went through a small period, about 2 months, where I had to rebuild from the money that was taken. Well, I had two late payments in that time that droped my credit score tremendously. Yet, now I’m back on my feet. I have plenty of income and money in the bank. Yet, it’s hard to get a good loan at a good rate with my credit score. Any suggestions.

Yes, team up with others that are willing to put their CREDIT up. Many states are doing more and more to protect the borrowers from lenders. So it is harder and harder to foreclose. In Illinois, I have seen it take over a year if not more (especially when a borrower files for BK). So most lenders now look at FICO and say, if you have a history of not paying, we won’t pay.

That is why it is harder to find asset only based lenders.

Depends on your income as well. Will you be able to go full doc (paystubs and w2’s)?

As well as LTV? How much are you borrowing compared to what the properties worth.

And are you looking for investment property loans?

I can go full doc without a problem. My is real good. I have all kinds of deals that are on hold right now, some having a lot of equity involved. I am looking for loans for investment properties.

FHA loans are great for low or no fico loans with re-established credit, good assets and good income. Let me know if you’d like further info…