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Full Doc Non-QM loans are designed for borrowers who have the income to support a conventional loan, but for one reason or another do not qualify.
Bank statement loans are designed for self employed borrower looking to use alternative forms of income to qualify for a mortgage loan.
Profit and Loss
Profit and Loss loans are designed for self employed borrower looking to use alternative forms of income to qualify for a mortgage loan. 12- and 24-month P&L options are available.
Asset Utilization loans are designed for high net worth individuals looking to purchase or refinance a home. Assets are used in lieu of traditional income to qualify.
WVOE & 1099
WVOE & 1099 loans are designed for borrowers looking for an alternate income method of mortgage lending. The no tax returns are required just a WVOE or 1099.
DSCR loans are designed for real estate investors looking for an alternate income method of mortgage lending. The DSCR qualifies a borrower based on the property’s debt service coverage ratio.
Cross Collateral loans are designed for real estate investors looking to finance multiple properties with one loan using the properties' DSCR.
5-8 Units & Mixed Use
This loan is perfect for investors looking to finance mixed-use or 5-8 unit properties with out traditional income verification.
Foreign National loans are designed for international borrowers looking to make purchases or refinances in the United State. There are full doc and DSCR options available.
Bridge loans are designed for real estate investors looking for a short-term financing solution. Although these loans required large down payments (or higher levels of equity), and typically come with higher interest rates, minimal documentation is required.
Fix & Flip
Fix & Flip/Fix & Hold loans are designed for real estate investors looking for a short-term construction loan to improve an existing home. Investor experience is the main underwriting factor and minimal documentation is required.
Construction loans are designed for real estate investors looking for a short-term construction loan to build a project from the ground up. Investor experience is the main underwriting factor and minimal documentation is required.
FREQUENTLY ASKED QUESTIONS
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A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor’s property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Conventional loans, FHA loans, VA loans, fixed-rate loans, adjustable-rate mortgages, jumbo loans, and more
FHA stands for Federal Housing Administration, a government agency that insures the mortgage loans to help low- and moderate-income borrowers achieve the dream of homeownership. Commonly utilized by first-time home buyers, but available to just about anyone.
A prequalification from a mortgage lender tells you the types of loans that are available, how much it may be willing to lend to you and what your payments could possibly be.
Identification, Income, Bank Statements, Property are some of the documents required.
A 20% down payment is ideal, but you have choices. Qualified buyers can obtain mortgages with as little as 3% down, or even no down payment.
Closing costs are typically about 3-5% of your loan amount and are usually paid at closing.
It depends what type of mortgage you’re attempting to get, and also what down payment you have, or if it’s a purchase or a refinance.
Interest rate is determined by multiple factors, including your credit score, the location of the home you purchase, the size of your down payment and your loan type, term and amount.
The APR includes both the interest rate and the fees that the lender charges to originate the loan.