Non-Prime also known as Non-Qualified Mortgages are terms for loans that don’t fit into the restraints of government backed lending standards. Borrowers can Qualify with higher Debt-to-Income Ratios of 40/50-55, credit scores starting at 550 minimum, Loan To Values (LTV) up to 90%. These loans work well for self-employed, business owners, and foreign nationals.
Full Doc Programs
Full doc Non-QM products are for homeowners and buyers who “just miss” the requirements of today’s strict traditional underwriting guidelines.
Bank Statement Programs
A Bank Statement product is a loan option for eligible self-employed borrowers to purchase or refinance a home. This product allows personal or business bank statements to calculate income without requiring tax returns.
*Not all self-employed borrowers will qualify. Additional documents may be required for eligibility.
Asset Qualifier product gives homebuyers the ability to qualify for a mortgage using their liquid assets. Borrowers must have a minimum of $500,000 in assets post closing. Qualifying assets include retirement, checking, savings accounts and stocks.
Additional documentation may be required.
Traditional and non-traditional (non-QM) Jumbo loan options. A jumbo loan is for home purchases that exceed the conforming limit set by the Federal Housing Finance Agency.
Non-QM Platinum Jumbo mortgage products are for homebuyers who do not qualify for traditional financing guidelines. This loan product allows the flexibility needed to purchase the home of your dreams!
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