Non-QM loan solutions to lending challenges are where we push the EASY button! Non-conforming loans, often referred to as non-QM loans, are a type of mortgage that some lenders offer to help these types of borrowers qualify for a loan. Our Account Executives are easy to work with, and you'll love our Broker portal for real-time updates. But who makes a good candidate for a Non-QM loan As you weigh the possibilities, here are some Non-QM loans that might be for you. History proves that when rates go up, non-QM is fantastic. A Non-QM loan lets the borrower provide alternative proof of income for lenders to consider in lieu of tax returns, W-2s or pay stubs alone. Step Up to Ease: Alt docs? We've got you covered. A Non-Qualified Mortgage (Non-QM) loan is an option to consider. With thousands of brokers in our approved network, you can count on HomeXpress to navigate the bumps in the road and move your borrower into the 'HomeXpress Lane' to closing. Our business revolves around Speed, Ease, and Convenience with superior customer service. With a well-rounded portfolio of Non-QM loan programs and a Prime Jumbo solution, we've got flexible solutions to qualify borrowers with varying needs and challenges. Flexibility in our credit requirements is what makes all the difference. Our newest Flex Select Prime offers 1099 and interest-only loans.

Prime Choice Funding has a variety of loan products to help borrowers with any situation! If you are planning to purchase a new home or refinance your existing home, we can help with your homeownership goals, call us at (877) 787-7463 or contact us here. TPO Lending offers flexible, Non-QM Prime Products to tackle unique loan scenarios so you can qualify more borrowers. In short, non-qualifying mortgages are simply loans.

Have experienced bankruptcy, foreclosure, or a short saleĭon’t hesitate to contact one of our lending professionals if you fall into one of these categories to see if you qualify for a Leverage/Non-QM loan. These products, mixed with falling home values, created the perfect storm that led to the Great Recession. Non-Qualified Mortgage (Non-QM) loans are typically for borrowers with unique circumstances and for those who dont fit the normal qualified-mortgage box.

Are an owner of a small to midsize business.

However, there are some drawbacks to consider. They are also much easier to qualify for than QM loans and do not require income documentation.

Are a retiree looking at purchasing a vacation home Non-QM loans can be a creative financing solution for unique situations such as financing for foreign nationals or self employed individuals.

Who Would Benefit from a Leverage/Non-QM Loan?īorrowers may benefit from a Non-QM loan if they: The wide variety of non-QM products available through Acra Lending and other non-agency lenders mean there are several other chances for growth within the sector.

In some cases, reserve requirements can be met by Cash-Out proceeds.

The company is poised to help brokers and lenders succeed in 2022 with its flexible variety of non-QM products, including 3-Month Bank Statement, Investor Cash Flow, Jumbo Non-QM, fix and flip, and small balance multi-family.

In some cases, no reserves are required As the non-QM market has grown, so has Acra Lending the company has doubled in size over the last year, Lind said.

The required down payment can be as low as 10%.

Job history is (sometimes) not required.

No personal income calculations are required.

A credit score as low as 600 is allowed.

Unlike traditional loans, there is more flexibility when underwriting the loan. How Does a Non-QM Loan Work?īecause these loans are dependent on collateral, Non-QM loans are often known as leverage loans. Non-QM loans can benefit clients who are real estate investors, entrepreneurs, and more that prefer interest-only payments. An expanded product offering coupled with real technology specifically designed for Non-QM, enables our partners to provide real value to their clients.

The NON-QM Product opens a significant opportunity door to qualify your non-traditional borrowers. In that case, borrowers may benefit from a Non-QM (Non-Qualified Mortgage) Loan.īorrowers seek Non-Qualified Mortgage (Non-QM) loans when they are unable to qualify for traditional loan products.

As a borrower, suppose you do not meet the necessary qualifications for a traditional loan due to a lower credit score, tax returns that do not accurately represent your income, or you may have a history of bankruptcy or foreclosure.

Non qm products