Drop Mortgage was founded on the idea that underwriting should “make sense”.  The problem with mortgage lending these days is that if you don’t fit in a specific box, your loan most likely will be denied. At Drop Mortgage, Inc. we take a common sense approach to looking at your loan.  If you have compensating factors or can demonstrate the ability to pay in an unconventional way, we might still be able to approve your loan.  If you have a credit event like a short sale or foreclosure, we understand and can overlook it if you have a good reason for it.   Additionally, we use methods like “depleted assets” or “cross-collateralization” to work around traditional guidelines. We thrive in the super jumbo area, even after a foreclosure or short sale.  Contact us for more info, you might be glad you did.   

Niche Portfolio Programs

  • Jumbo Mortgages with 10% Down and NO mortgage insurance to 2.7MM
  • Super Jumbo Mortgages After Short Sale or Foreclosure to $5MM with 30% down
  • Super Jumbo Mortgage to 10MM
  • Stated income to 75% up to 2MM
  • 1 day out of foreclosure or short sale with 20% down.
  • Foreign National to 75% Loan-to-value
  • Pledged Assets
  • Cross collateral
  • Low Fico Score loans down to 550
  • Non-Warrantable condos
  • Investment properties after short sale or foreclosure
  • 2nd homes after short sale or foreclosure
  • Interest only options on 5/1 & 7/1 ARM’s up to 75% Loan-to-value
  • Fico scores down to 620 on Super Jumbo loans
  • No Fico on Foreign National

Government Loans

  • FHA
  • FHA – Back to work (1 year after foreclosure or short sale)
  • VA
  • IRRRL (VA streamline refinance)

Conventional Loans

  • Fannie Mae
  • Freddie Mac