Countrywide Home Loans has introduced a new home loan that enables borrowers to finance a home even if special circumstances make qualifying under traditional guidelines a challenge. The Optimum Loan Program, now available through Countrywide's retail division and in the near future through its wholesale channel, addresses common obstacles such as no funds in a savings account for a down payment or a salary based on commission that varies from month to month. Other potential borrowers through the program have not yet built a credit history by borrowing from traditional sources or have a higher than normal debt-to-income ratio. The program will be rolled out to mortgage brokers on a staggered schedule through Countrywide's wholesale lending division. The program's special features incl...
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