I’m excited to announce that I now have access to even more non-QM residential loan programs.**
These programs are ideal for self-employed borrowers, foreign nationals, permanent residents, and borrowers with relatively high debt-to-income ratios.
For primary residences, second homes, or investment properties.
These loan programs were just “turned back on” after being dormant for a little bit due to COVID-19:
- Profit-and-loss statement
- Bank statements (2, 12, or 24 months)
- No minimum debt-to-income ratio (DTI) required; instead, based on debt service coverage ratio (DSCR) of underlying property
- Asset utilization
- Written verification of employment (VOE)
- Foreign nationals
- Non-permanent residents
**Non-QM stands for Non-Qualified Mortgage, which simply means it does not fit the definition of a Qualified Mortgage (QM) under the Consumer Financial Protection Bureau (CFPB) guidelines.
Every loan made today is subject to the CFPB’s Ability-to-Repay rule; non-QM loans just have a different way to get there.
Please contact us at 321-239-2781 or firstname.lastname@example.org or by clicking here.