Non-QM Loans

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.

Self-Employed Borrowers

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.

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