UNIQUE PROGRAMS OFFERED BY ABACUS
CONVENTIONAL REHAB LOANS up to 95% Financing
You have the right to choose any contractor, retailer, subcontractor to do the work). All we need is 1 estimate from anyone doing work on the property. Minor work can be done by the buyers, themselves. A home inspection is required to be done by the buyer and provided to the bank. 90% financing is available for rehab loans on vacation homes, too.
We also have another program for conventional Borrowers with lower credit scores, but still doing conventional financing, we offer the same interest rates as borrowers with high scores. This unique program is only available in the following counties, Carbon, Monroe, Pike, Wayne, Lackawanna, Schuylkill, Luzerne, Northampton and Lehigh.
We do commercial loans on mixed use and commercial properties. We finance up to 80% LTV on the assessed value/ purchase price
Land loans on raw acreage up to 10 acres with septic permits or Perc Test. 30% down payment required.
95% financing conventional loans with NO PMI insurance, 2nd Homes to 90%
ITIN loans for Foreign Nationals with no Social Security number, but spouse MUST have a Social Security no. with an Established Credit File
We finance Mobile Homes on Permanent foundation, Fee simple, 20% down payment and maximum term of 15 years
FHA down payment program as a 2nd mortgage @ 2% higher rate then the accompanying FHA mortgage.
FHA Loans with scores down to 550. Down payment is 10%, and borrows must show a recovery period from their last delinquency. They must provide proof of 12 months rent checks and utility bills to show no late payments in the past year.
Conventional loans offering ability to RECAST mortgage with a large principal reduction after closing!!
We finance non warrantable condos that aren’t approved by Fannie Mae with 20% down payment.
No Income Verification Loans using bank statements to show deposits ( in lieu of tax returns).
(DSCR) Investment properties cash flow to qualify a borrower who ordinarily wouldn’t qualify with their normal qualifying income ratios.