A Non-Qualified Mortgage (Non-QM) is any home loan that doesn’t comply with the Consumer Financial Protection Bureau’s existing rules on Qualified Mortgages.
This type of mortgage loan accommodates people who are not able to prove they are capable of making their mortgage payments. With the help of the 5 products listed below we now have the ability to help those who can’t meet the typical QM standards:
- Investor Cashflow
This program is a no doc income loan for borrowers who have a history of owning and managing rental properties.
- Bank Statement
This program allows the borrower to utilize up to 24 months of bank statements to supplement income.
- Lite Doc
This program grants borrowers the ability to provide a light amount of documentation to verify their income (VOE or 12 month P/L) and assets (1 bank statement)
- Hard Money / Investor Financing
This program entitles borrowers to utilize an outside source to lend funds to be paid back over a short period of time. (Inquire within to find out if you qualify.)
To find out more about the criteria needed to qualify for these products please speak with your Mortgage Loan Originator.