![]() ![]() We have extensive experience with Non-QM, DSCR, hard money and real estate investor loans. All Qualified Mortgages (QM) are presumed to comply with this requirement. Unlike a qualified Jumbo loan, a non-QM Portolfio Jumbo loan uses bank statements and other methods of authorization. Like QM loans, lenders must make a good faith determination of the borrower’s ability to repay the loan, but may expand its underwriting guidelines to include non-traditional documentation. Like a qualified Jumbo loan, a non-QM jumbo loan is a mortgage that exceeds the Fannie Mae maximum of 510,400 on a single-family home. They are simply loans that do not need to adhere to the complex rules associated with Qualified Mortgage (QM) lending. ![]() Hard Money or “Private Money” are usually offered by private investors and are designed to provide a short-term bridge loan that is collateralized by real estate.ĭSCR (Debt Service Coverage Ratio) loans allow borrowers to qualify based solely on the cash flow or projected cash flow generated from an investment property.Ĭhoice Home Mortgage specializes in loans for real estate investors and self-employed borrowers. A non-qualified mortgage (non-QM loan) may include one or more features that falls outside the specific requirements of a qualified mortgage. #Non qm mortgage loans macThe rules for what types of mortgages Fannie Mae and Freddie Mac can buy come from the Federal Housing Finance Agency (FHFA). ![]() Fannie Mae and Freddie Mac are government-sponsored enterprises that invest in mortgage loans. Non-QM mortgages are often used by self-employed business owners with tax write-offs that offset their earnings each year, making it difficult to qualify for a conventional or government-backed mortgage. Non-QM Loans are any loans that are not a conventional (conforming) loan, FHA, VA, USDA loan. A non-conforming loan is a loan that doesn’t meet Fannie Mae and Freddie Mac’s standards for purchase. Non-QM, DSCR and Hard Money are products designed for home buyers and real estate investors that can’t always meet the criteria of a traditional mortgage such as a conventional, FHA or VA. ![]()
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