What Near Miss is
Near Miss covers two borrower groups conventional guidelines strand: borrowers with recent credit events (short sale, foreclosure, bankruptcy — or limited credit history), and unique properties — barndominiums, manufactured homes on owned land, non-warrantable condos, and vacant land. Full program details →
How qualifying works
Sample qualifying snapshot: A strong file shows (1) the credit event seasoned and explained — time since the event and a clean record after it; (2) documented income (12 months' history is the standard across these programs); (3) a down payment fitting the property type — e.g., non-warrantable condos up to 80% of value, manufactured homes up to 75%, barndominiums up to 80% on purchases; (4) the property type's specific requirements met (manufactured homes must be affixed to borrower-owned land — no parks or leased land). Exact seasoning, LTV caps, and credit minimums vary by investor and are subject to change.
3 qualifying scenarios
Scenario 1 — The non-warrantable condo: A buyer wants a $900K condo in a building with too many investor-owned units for agency approval. The program finances up to 80% of value with 12 months' income history — the building's warrantability stops mattering.
Scenario 2 — The manufactured home on land: A family buys a double-wide affixed to their own 3 acres. No age restriction, unlimited acreage, up to 75% of value, no prepayment penalty — and borrowers without established credit may still be eligible.
Scenario 3 — The barndominium: A borrower buys a barndo on 5 acres for $600K. Purchase-only, up to 80% of value, 660 minimum credit, no gift funds — and the appraisal-comparable challenge is handled by a program that actually understands the property type. Illustrative examples; exact terms vary by investor and are subject to change.
Check Your Eligibility — Near Miss
60 seconds. No obligation, no hard credit pull. NMLS #7861.
Who Near Miss is NOT for
- Borrowers with clean credit buying standard homes — standard Non-QM or agency will price better.
- Manufactured homes in parks or on leased land — the program requires the home affixed to borrower-owned land.
- Barndominium refinances or gift-fund buyers — barndo is purchase-only with no gift funds on this program.
Frequently asked questions
What counts as a 'recent credit event'?
Short sales, foreclosures, bankruptcies, or periods of limited/no credit history. Seasoning requirements — how long ago it happened — vary by program.
Can I finance a barndominium?
Yes — purchase only, $50K to $1.2M, up to 80% of value, 660 minimum credit, no gift funds, no prepayment penalty.
What about a mobile or manufactured home?
Single or double-wide, affixed to land you own (no parks or leased land), unlimited acreage, no age restriction, up to 75% of value, minimum $50K.
Do you finance non-warrantable condos?
Yes — ITIN or SSN eligible, up to $3M, up to 80% of value, primary or second home, DTI up to 55%, purchase or refinance.
Skip the Bank Runaround.
Recent credit event or a property type lenders keep rejecting? Tell us the story — Near Miss may be built for it.
Get Your Near Miss Review
60 seconds. No obligation, no hard credit pull. NMLS #7861.
Guidelines change. Terms, pricing, and requirements vary by investor and are subject to change without notice. Examples in this article are illustrative only — not quotes, approvals, or commitments to lend. This article is educational, not loan advice. Confirm current guidelines with us before making an offer. NMLS #7861 · Equal Housing Opportunity.
