Beyond Success Story #2: Jumbo Financing for Buyers with Credit Challenges

Success with beyond sign

During our 35 years in business, we’ve learned that it’s impossible for every potential borrower to have a near-perfect credit score, steady W2 income, and zero past events (like a bankruptcy or foreclosure). As a real estate agent, you’ve undoubtedly learned the same — but that certainly doesn’t make your job any easier sometimes. Especially when you have a motivated home buyer who is struggling to get approved for a mortgage.

At Embrace Home Loans, we believe that unconventional shouldn’t mean unqualified. That’s what drove us to create a new product, Beyond by Embrace. Beyond offers financing solutions for your home buyers who are self-employed, report low adjusted gross income on tax returns, have FICO scores as low as 580, or have a prior bankruptcy, foreclosure, modification, short sale, or deed in lieu.

Beyond was released in late spring of this year, and our success stories are already piling up. It’s been so rewarding to help these unconventional borrowers, and to give our agent partners a solid mortgage product that can help not just close deals, but completely save them in some instances.

Jumbo Financing for Buyers with Credit Challenges

The situation

A mother and two daughters in Maryland were selling their three existing homes and purchasing a fully-renovated $1.3 million home together. They were turned down by other lenders for traditional jumbo financing because of credit problems.

How Beyond helped

Beyond by Embrace uses the middle credit score of the primary wage earner instead of the lowest middle credit score of all borrowers. This meant the women were able to qualify for a mortgage and close on their new home. The sellers of the house renovate homes as a profession and were so impressed with Embrace’s mortgage offering that they asked the loan officers to do a presentation on Beyond for their team.

The stats

  • $1.3 million sale price/$945,000 loan amount
  • 3 borrowers
  • 45% DTI
  • Several credit challenges (late credit card and student loan payments, unpaid collections)
  • 591 credit score for borrower 1 631 credit score for borrower 2 676 credit score for borrower 3 (highest wage earner)
  • 30-year fixed

Embrace Home Loans, Inc. NMLS #2184 is licensed in 46 states, plus DC. ( This is not a commitment to lend. Other conditions and fees will apply.


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