Second Chance Purchase Loans

For California Homes Only

With 10+ years of experience in lending that betters the financial position of our customers, Westpark Loans is very successful in offering and closing loans that no one else can. Our unique lending philosophy – superior service, a complete financial review, and bettering the financial position of the borrower and the community – has allowed us to close millions of dollars in loans.

Who Would Benefit from a Second Chance Purchase Loan?

Second Chance Purchase Loans are ideal for someone who would like to purchase a home now but cannot qualify for a conventional loan due to a recently experienced foreclosure, short sale and/or bankruptcy.

How It Works

We can offer Second Chance Purchase Loans to clients who have been out of foreclosure or bankruptcy for as little as one day.  Unfortunately, we cannot help borrowers who are currently in foreclosure or bankruptcy.

Program Highlights

• Up to 80% loan-to-value (LTV) ratio
• No minimum credit score
• Full Income Documentation Required
• Bankruptcy, foreclosure and short sales are acceptable
• Up to 7% seller help is allowed (i.e., the seller can pay closing costs in an amount up to 7% of the total purchase price)
• Gift funds are acceptable
• Need sufficient funds to cover 2 months of principal, interest, taxes and insurance post-closing
• May consider first-time homebuyer with a larger down payment
• Same day approvals and closing within 10 business days of appraisal order

Getting Started

To help you determine if a Second Chance Purchase Loan is right for you, please contact one of our licensed Loan Specialists by calling us directly at 844-574-LOAN (5626), by submitting the form on the right or by completing an application directly on our website.

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Call Us 844-574-LOAN (5626)

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