If you’ve had your mortgage application denied, you’re not alone.
Many borrowers need non-traditional mortgage loans called non-QM loans.
Non-QM lenders are willing to take on more risk than traditional lenders.
You may have a low credit score or a high debt-to-income ratio, or the property itself may be risky (e.g., nonwarrantable condo, large acreage property, short-term rental property).
Applying to a creative, non-QM lender that employs common sense underwriting might just be your optimal route to approval.
What do the best non-conforming mortgage lenders have in common? Creativity and flexibility. Understanding that not every borrower fits the traditional mold, non-QM lenders offer a full spectrum of loan programs for even the trickiest of situations.
Here we highlight three of the most classic products offered by non-QM lenders: jumbo and super jumbo loans, foreign national loans, and self-employed loans. Explore the full range of programs offered by unconventional mortgage lenders
While traditional lenders shy away from high loan amounts, our non-QM lenders understand the complexities of larger loan amounts, offering up to 80% LTV up to $7.5 million.
Some banks do not lend to foreign nationals at all. Our lenders have special programs allowing foreign nationals from any country to invest in U.S. real estate.
Our lenders allow alternative income documentation, such as bank statements and profit-and-loss statements, acknowledging the varied nature of self-employment income.
We are not a traditional bank. As a mortgage broker with access to a network of the best non-QM mortgage lenders, we can tailor your loan to your exact needs.
Whatever the issue may be, our non-QM lenders have a solution.
Recognizing that your loan scenario doesn’t satisfy a traditional lender’s criteria is only half the battle.
The next step is finding the best non-QM lender with the best program for your situation.
Since most non-QM lenders operate on a wholesale basis, applications can only be submitted through a licensed mortgage broker.
At DAK Mortgage, our expertise lies in collaborating with the leading non-QM wholesale lenders nationwide.
Working with us saves valuable time, as we have established direct contacts with key individuals at these lending institutions. This insider access allows us to expedite your loan application process.
If you’re in the market to purchase a new property or aiming to refinance your existing one, we’re here to connect you with the non-QM lender that fits your circumstances.
Where traditional lenders may fall short, our lenders specialize in creative non-QM loans in Florida that get you to the closing table.
A non-QM loan can be a good choice for borrowers who don’t meet traditional lending criteria due to unique income streams, credit histories, or tricky property types. While offering flexibility, it’s important to carefully consider the potentially higher interest rates and specific terms of these loans.
Non-QM loan candidates include borrowers who do not show adequate income on their tax returns, such as self-employed or freelance workers, and those with higher debt-to-income ratios or credit issues. They also cater to borrowers looking to purchase or refinance difficult properties such as non-warrantable condominiums or short-term rental properties.
Contact us today to discover what non-traditional mortgage lenders in Florida require.
