Non-Qualified Mortgage Loans
Non-QM Mortgage an alternative to conforming mortgage, it gives you’re the flexibility where conforming cannot. Below are few alternative ways to get qualified. Call us today.
Non-Qualified Mortgage (Non-QM) Products
- Investment Property – No tax returns, no W2’s
- Self Employed – No tax returns, No W2’s
- Bank Statement – Personal or business bank statements
- Investor Cash Flow – No tax returns, no W2’s for debt service coverage ratio (DSCR)
- Asset Qualifier – Qualify on liquid assets instead of income.
- ITIN Mortgage – Qualify using your ITIN cards instead of your Social Security Cards.
- Foreign National – Purchase investment property in U.S.
Bank Statements Mortgage are most popular with,
- Self-employed 1099
- Business owners
- Contract workers
- Independent contractors
- Sole proprietors
- Gig economy workers
Benefits of DSCR (Debt Service Coverage Loan)
- No income or job history verification required
- No limit on the number of properties
- Minimum credit score required
- As little as 20% on down payments
- Interest-only loan option available
- Suited for new and seasoned real estate investors
- Both long-term and short-term rentals are eligible (Airbnb, VRBO, etc.)
There are lots more product in this category giving borrowers ample flexibilities to borrower either for their primary or investment.
Non-QM generally have higher interest then traditional loans; however, you would have to weigh the benefits vs paying higher rates, however it provides solutions to lots of borrower who would be out of purchasing.
We can do 30 years fixed, fully amortized programs with no prepayment penalty for owner occupied properties. Call us today to see how much you qualify for.