Also known as subprime or second-chance lending.
It also offers alternative ways for self-employed borrowers to document their income; it could be their business and personal bank statements for the last 2, 12 or 24 months or simply provide a CPA Letter along with P&L Statement to demonstrate the income. It allows them not like any other banks to use their average monthly deposits as average monthly gross income.
These loans are characterized by higher interest rates and less favorable terms in order to compensate for higher credit risk. Proponents of Subprime lending maintain that the practice extends credit to people who would otherwise not have access to the credit market.
In finance, Non QM Lending means making loans to borrowers who may have difficulty maintaining the repayment schedule, foreclosures, bankruptcies, sometimes reflecting setbacks such as unemployment, divorce, medical emergencies, etc.
Our Loan Products
Conforming Loans
- Loan Amount up to FNMA Limits
- Minimum Credit Score 640
- Primary Residency
- No Reserves Required
Stated Income Loans
- Loan Amount up to $5,000,000
- Purchase up to 75% LTV
- Non-Warrantable Condos
- Primary Properties
No Income Loans
- Loan Amount up to $5,000,000
- Purchase up to 80% LTV
- Non-Warrantable Condos
- Investment Properties
Bank Statement Loans
- Loan Amount up to $10,000,000
- Purchase up to 90% LTV
- Non-Warrantable Condos
- No Tax Returns Required
Condo Hotel Loans
- Loan Amount up to $5,000,000
- Purchase up to 70% LTV
- No Reserves Required
- Foreign Nationals Acceptable
Foreign National Loans
- Loan Amount up to $10,000,000
- Purchase up to 75% LTV
- Cash Out up to 70% LTV
- All Nationalities are Welcome
Jumbo Loans
- Loan Amount up to $50,000,000
- Purchase up to 90% LTV
- Primary Residency
- Investment Properties
Private Money Loans
- Loan Amount up to $10,000,000
- Purchase up to 75% LTV
- Investment Property Only
- No Min Credit Score Neede