Non QM Loans
The Qualified Mortgage or QM Rule brought about the concept of Non-QM lending.
Loans that do not meet the complex rules that are associated with Fannie Mae/Freddie Mac are considered Non-QM loans or portfolio loans.
Non-QM loans take a common sense approach to underwriting and a borrower’s creditworthiness to determine the willingness and ability to repay the loan. Each situation is unique and each loan is weighed on its own merits.
Agency Fall out Non-QM
For Home Buyers, or Refinance where Credit is not where it should be on conventional agency loans. Also borrowers who have suffered a recent isolated derogatory event.
Home Buyers or Refinance where the borrower is Self-Employed, there are Non-QM products based on Bank Statements instead of Tax Returns.
Great Program for True Investors
Real Estate Investors, you will love this excellent financing solution, which can be a great asset as you work to build wealth and expand your portfolios. Investment properties only – must be for business purposes
Unlimited Cash-Out to 3M, NO Tax Returns Required
- LTVs to 75% (80% with DSCR)
- Cash-Out with no seasoning required
- Gift funds allowed
- No Tax Returns Required
- No Reserve requirement up to $1.5m
- Major credit event 36 mo
- Credit Scores starting at 620
- Interest Only Option (30 & 40 yr)
- ARM’s and FIX rates Available
- No cap on number of financed properties
- SFR, 2-4 Unit and Warrantable Condo
- Up to 5% total origination fees
This program is designed for experienced real estate investors who are purchasing or refinancing Investment Properties.
- Borrower is qualified based upon the cash flows of the subject property only, regardless of the number of properties owned.
- No Income or employment is stated or verified – Debt to income (DTI) is not used.
- For qualifying purposes debt coverage ratio is used.
- 20% minimum down on property for purchase and refinance. Cash out up to 75% loan to value (LTV).
How Can We Help?
With Barbara Kenton at Allianz Mortgage Service, we know all about Non-QM Loans and how to qualify you for either a Home Purchase or Refinance. If you are located in the Los Angeles, Orange County, San Bernardino, Riverside County area, or anywhere in California, contact us today to get started.