5-Star Google Review for Brightwire:

Five Stars
“My loan was cleared for closing in only 12 days and I skipped two payments.
The whole process could not have gone any smoother/better!” - Teaneck Resident

Conventional Loan

The lowest cost loan option for those without military service (not eligible for Veterans Affairs loans).

Best for People Who:
  • Have Excellent, Good, or Fair Credit (credit score above 639 with at least 5% down payment).
  • Have at least 3% of the purchase price available for down payment (and a credit score of 680 or higher).
  • Excellent loan option for investment property and 2nd home purchases/refinances.
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FHA Loan

Federal Housing Administration (FHA) loans are government loans insured by the US Department of Housing and Urban Development (HUD). They are commonly marketed to first-time homebuyers with low down payments.

Best for People Who:
  • Have credit scores of 580 or higher.
  • Want to purchase a multifamily home with only 3.5% down payment.
  • Need down payment assistance (if you have no funds available for down payment).
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VA Loan

Eligible American veterans, service members, and their spouses are entitled to participate in this loan program. VA loans are guaranteed by the Department of Veterans Affairs and are typically the lowest cost loan option for eligible homebuyers. VA loans can only be used to purchase a primary residence.

Best for People Who:
  • Are active-duty veterans, retired veterans, reservists, and surviving spouses that want to take advantage of their VA benefit.
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Non-Traditional Loan

Brightwire offers loan programs based on the following types of documentation: bank statement loans, 1099 only loans, and profit and loss only loans.

The benefit of non-traditional loan programs is that everyone (no matter how their income is paid or taxed) can enjoy the benefits of homeownership.

Best for People Who:
  • Are paid in cash.
  • Are self-employed and deposit their business revenue consistently into their personal or business bank account each month.
  • Have a minimum of 10% of the purchase price for down payment.
  • Have large write-offs on their tax returns.
  • Have income that is difficult to calculate or have multiple businesses that are intertwined.
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No Income Documentation Loan

Purchase your primary residence without providing proof of employment or income.

Best for People Who:
  • Do not have the required income documentation or work history.
  • Have a minimum of 20% - 30% of the purchase price for down payment (depending on your credit score).
  • Have at least 12 months of reserves in assets after closing.
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