Key features
- Eligible refinance options may be available for credit scores as low as 500 with sufficient equity and a qualifying scenario
- Some equity-focused programs can consider recent mortgage lates or credit events that conventional programs may not accept
- Possible first-lien, second-lien or business-purpose structures depending on occupancy, purpose and lender
- For stronger qualifying profiles, higher-LTV options may be available depending on program, property, occupancy and complete credit profile
- Alternative-income options can include bank statements, P&L, 1099 and other Non-QM documentation methods where eligible
- No promise of approval: credit, equity, documentation, occupancy and program requirements vary by lender
Who this is designed for
Borrowers with substantial property equity whose score, mortgage history, income documentation, recent credit events or debt profile may not fit conventional lending.
Property types and uses
Potential uses include eligible refinance, debt consolidation, property investment, business-purpose financing and other permitted needs. The correct structure depends on occupancy and loan purpose.
Common questions
Can I refinance with a credit score around 500 if I have equity?+
Potentially. CTC Equity has access to eligible equity-focused programs that can consider scores as low as 500 in certain scenarios, but approval depends on equity, property, occupancy, documentation and lender requirements.
Can I refinance after mortgage lates?+
Some Non-QM and equity-focused lenders may consider recent mortgage lates that do not fit conventional guidelines. The number, timing and severity of lates matter.
Can I get more leverage with a 600+ credit score?+
Depending on the complete credit profile, occupancy, property and program, higher-LTV options may be available. A score alone does not determine maximum leverage.
Will I have to refinance my first mortgage?+
Not necessarily. Where eligible, a second-lien option may preserve the existing first mortgage; in other cases a refinance may be the better or only structure.
Can self-employed or 1099 borrowers use alternative income documentation?+
Yes, eligible Non-QM programs may use bank statements, profit-and-loss statements, 1099 income or other alternative documentation. Program rules vary.
Related financing
Tell us your scenario
CTC Equity compares your scenario across its lender network. Program availability, pricing, leverage and documentation requirements vary by lender, borrower and property.