These loans are for clients that cannot qualify for traditional financing. They are provided through investors. What this means is I broker, or hand the loan over to an investor who underwrites too their guidelines. For many clients, this is the only hope for home ownership!
Clients that need a Non QM loan...
- Recent Bankruptcy or Foreclosure.
- Tax liens on record.
- Self-employed person that writes off too much, to qualify for traditional financing.
- The "Johnnie Lunch buckets" (consumers in the avg. 200k- 500k home) that have scratch and dents on their mortgage loan...for example 30-day late payments.
- Real estate investors wanting to purchase more investment properties. Flexible DTI, allows them to purchase.
- There were 813,000 divorces filed in 2016. Often divorces result in challenging credit issues.
- Up to one million Americans will need a loan to payoff their ballooning private money 1st and 2nd mortgages, aka hard money. They don’ t have mortgage history on their credit report. They need us.
- 976,000 Americans will need to payoff their HELOC loan in 2018. The ten yr. Balloon comes due and they won’ t have 50k to 100k...but they do have equity.
- Thousands of investors need a loan on their non-warrantable condo’s.
- Bank Statement Program
- Non-Prime for Borrowers with recent credit issues
- Investor Cash Flow "No Income" Program
- Foreign National Program up to 75% LTV
- No Income Asset Qualifier Program to 75% LTV