Bank Said No? We say YES!

Is your credit score holding you back?

Borrowers who get a mortgage with us and follow our customized credit plan are likely to refinance with an A or B Lender within 6 - 12 months! 

Designed to help borrowers improve their credit score by repaying debt on their bureau and providing the means to re-establish new trade lines. Borrowers who follow our customized credit plan are likely to refinance with an A or B Lender within 6 to 12 months.

 


 

Example #1

 

The Dilemma

  • Mr. Gold had poor credit and was paying high interest on many loans but he wanted to clean up his credit and consolidate his debt so that he would pay lower interest rates in the long run
  • He was unable to quickly improve his credit unless he refinanced his home to repay the unsecured debt and rebuild new credit
  • His credit was not strong enough for bank approval so his mortgage broker suggested an Alt-A lender
  • The Alt-A lender acknowledged the property and his employment income met their requirements but he was still declined by the Alt-A lender until his credit score improved
  • Mr. Gold was “stuck”… he needed to refinance in order to clean up his credit quickly, but was unable to get approved for a refinance

Westpoint’s Solution

  • Mr. Gold applied with Westpoint Capital
  • Westpoint identified the debt that required immediate repayment in order to improve his credit in the quickest manner and provided financing to repay the derogatory debt
  • Westpoint also helped him to rebuild new credit to improve the credit score
  • After following the customized plan provided by Westpoint for 7 months, Mr. Gold qualified for financing with an Alt-A lender
  • The new financing repaid the Westpoint Capital mortgage

Overview

  • Mr. Gold needed assistance creating a credit plan and a lender who could help him achieve it
  • Westpoint Capital’s Bridge into Alt-A program can help customers to take the necessary steps to clean up and rebuild their credit in order to get approved with an Alt-A or Bank lender

 

Example #2

 

The Dilemma

  • Ms. White claimed bankruptcy one month ago but now wishes to purchase a home
  • Her mortgage application was declined by the bank and by an Alt-A lender (they wanted to see she had been discharged from the bankruptcy for at least 1 year and had re-established credit)

Westpoint’s Solution

  • Ms. White applied for financing at Westpoint Capital
  • Her employment and down payment were verified and she was approved for the mortgage on the new home
  • Westpoint also assisted her in rebuilding her credit
  • She maintained her employment and remained on track with the plan that Westpoint had created for her
  • Once she had been discharged from Bankruptcy for a total of 1 year and her credit had improved, she was approved by the Alt-A lender
  • The new financing repaid the Westpoint Capital mortgage

Overview

  • Ms. White was unable to purchase a home so soon after bankruptcy and unable to re-establish her credit without assistance
  • Westpoint provides financing and creates customized plans to help customers get approved with Alt-A lenders and traditional bank lenders
 

Benefits

  • Previous bankruptcy OK (6 months discharged)
  • No early payout penalties
  • Bruised Credit OK

 

To be eligible

  • Equity in home
  • Min. credit score of 500
  • 1st or 2nd Mortgage