NON QM HOME LOANS :

SELF-EMPLOYED BORROWERS BEST LOAN PRODUCT – 12 Month Statement Loan

Conventional and FHA loan programs require tax documents to prove your income. Non qualifying mortgages offer bank statement mortgages that have no need for filed tax paperwork or returns. Our underwriters will evaluate your business or personal deposits based on your bank statement. For the purpose of qualifying you can use from 3 months tax statements to 24 months to qualify.

HIGH NET WORTH BORROWERS – ASSET DEPLETION LOANS

An asset depletion loan divides the total cash balance in an account over a determined time period to come up with your qualifying income. This is known as an asset depletion loan. As an example, a $200,000 account balance may result in $833.33 of additional monthly qualifying income.Basically, your being qualified with money that you have in the bank or your 401k, without having to use those funds.

BORROWERS INVESTING IN MULTIPLE RENTAL UNITS

Non-QM loans may be a good choice for investors who own more than have 10 or more financed properties. FHA government and conventional loans allow for up to 10 mortgage loans . For these borrowers we can offer debt-service coverage ratio loans for real estate investors. If the rent on a new home covers the monthly payment, you don’t need other income to qualify. This product works well for fix and flip investors or vacation home rental investors. To qualify for a flip loan go to FLIP LOAN

BORROWERS WITH RECENT BAD CREDIT

You may be eligible for a non-QM loan one day after completing a foreclosure or bankruptcy. You typically need to wait two to three years after a bk event. Call our customer service department to see if you currently qualify. 800-826-5077.

FOREIGN NATIONALS HOME LOANS

A Foreign National is a citizen of another country who travels to or lives in the U.S. for brief periods of time for work or vacation. Non-QM loans for foreign nationals in many cases may not require a Social Security number, proof of U.S. income or credit.

INTEREST-ONLY PAYMENT FOR BORROWERS

Self employed or commissioned income-earners that do not receive regular payments may benefit from an interest-only loan.  Interest only payments allows for lower payment options. Understand what your term is and when your loan converts to principal and interest so you are not surprised when your interest only term expires.
A Non QM Home Loan, 12 month statement loan is perfect for those that do not want to use employment or income to qualify for a home loan.