Your finances aren’t cookie-cutter. Why should your loan be?
Often, lenders don't recognize the nuances of everyone’s unique financial situation. That’s why we introduced Beyond by Embrace, a program offering purchase and refinance loan options designed for borrowers with circumstances that may otherwise prevent them from securing financing with a more traditional lender.
If you’ve tried to get a mortgage while self-employed, you’re well aware of the related challenges when your income isn’t documented on a W-2. Beyond is suited for self-employed borrowers who can show cash flows from their bank statements instead of only what is reported on their tax returns. We value flexibility just as much as you, and are dedicated to creating paths to homeownership with outside-the-box thinking that celebrates your own outside-the-box career path.
We also understand that many times, life events lead to unforeseen challenges and credit events such as a bankruptcy or foreclosure. At Embrace, we believe that people are more than just a credit report, and that’s why with Beyond, we look at the bigger picture and work to understand your whole story when assessing your loan application.
- Ideal for borrowers whose income is best represented by bank statements or 1099s
- Cash-out refinance options available
- Fixed-rate and ARM options
- Bankruptcy must be discharged or dismissed for at least 24 months at time of application
- Foreclosures, modifications, short sales/deed-in-lieu, and 120-day mortgage delinquencies must be settled at least 24 months at time of application
Investment Properties and Second Homes
- Self-employed borrowers may qualify by showing cash flow from bank statements or 1099s
- Loan sizes up to $2.5 million
- Purchase, rate and term, and cash-out refinance options available
Frequently asked questions
What is mortgage insurance?
Simply put, mortgage insurance is a policy taken out on your loan that protects the lender in the event of default or foreclosure. Of course, no one expects to default on their mortgage, but life isn’t always predictable and lenders need assurance that they will get their money back in the event your financial health takes a turn for the worse.
In this scenario, the lender is the beneficiary if you default on the mortgage loan for any reason.
How are rates calculated?
What does it mean to be pre-approved?
How do interest rates affect my mortgage?
What does my mortgage payment include?
Not a commitment to lend. Conditions and fees apply. Embrace Home Loans reserves the right to cancel this offer at any time. Interest rates are determined on the day you lock your rate. If published rates fall below your locked rate, Embrace Home Loans will allow a one-time offer to re-lock your rate at the lower rate.