Tag Archive for: non-qm loans

Can Non-Citizens Still Get Mortgages?

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Oil prices – which have been sparking inflation fears and driving rates higher – rose again over the weekend. But rates fell sharply today in the face of rising oil prices. Rates fell because the prospect of a weaker economy outweighed inflation concerns. The University of Michigan Consumer Sentiment Index came in very weak, particularly regarding employment concerns; 61% of participants expected unemployment to increase over the next 12 months.Read More

Cross-Collateralized Loans; More 6% Mortgages Than 3%; Rates 1% Lower Than Last Year; Loans For Canadians

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A Cross-Collateralized Mortgage Is One That Is Collateralized By More Than One Property Fannie Mae, Freddie Mac, FHA, and competitive jumbo lenders do not allow it, as it fosters foreclosure, payoff, and secondary-market issues. Non-QM and bridge loan (buy-before-sell) lenders do, however, allow for cross-collateralization – and it is proving to be a very valuable tool!Read More

10% Down For Newly 1099’d Buyers; Taking Title in LLC; Closing While On Maternity Leave

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99.9% of Americans have no idea how big deal this is. But the Non-QM (today’s quasi-subprime) space is getting brutally competitive now - and therefore far more flexible. For example, we now have a non-QM loan with four highly unusual characteristics that have not been seen since pre-2008.Read More

Using Liquid Assets To Qualify For Loans (Asset Depletion)

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Rates climbed again today, and the reason is interesting. I explain more with my rate quote below. I blogged a few weeks ago about the expansion of DSCR loans, which allow investors to qualify with rental income only: Hoovering Up Sunbelt Rental Properties With DSCR Loans. DSCR loans have become significantly more flexible and prevalent due to the substantial expansion of the overall “Non-QM loan” market over the past few years.Read More

Non-QM Mortgages After Bankruptcy

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Many borrowers in bankruptcy or recently discharged believe they can’t secure mortgage financing. However, the reality is that there are mortgage options available, even during or immediately after bankruptcy. For those navigating the financial challenges of bankruptcy, Non-QM loans (Non-Qualified Mortgages) provide flexible and accessible mortgage options, often with fewer barriers than traditional mortgage programs.Read More

How Soon Can I Get A Mortgage After Filing For Bankruptcy?

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At JVM Lending, one of the most common questions we receive from borrowers is, How long do I have to wait to get a mortgage after filing for bankruptcy protection? The answer depends on several factors, including the type of bankruptcy you filed, the type of loan program you’re interested in, and how quickly you’re able to rebuild your credit. Let’s break down the waiting periods and requirements for the most common scenarios.Read More

Rates Climb Again; China’s Crashing…But More So

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Rates are up again today! But economist David Rosenberg reminds us in this post on X that long-term rates always go up after large cuts... "Then reality sets and yields melt like a hot knife through butter."Read More

All The Loans Banks Don’t Have: Non-QM, No Income Verification, Rental Income Only, Bank Statement, Hard Money, & Renovation

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I am blogging about Non-QM and other unusual loan products again because a borrower came to us recently after being told by a commercial bank that there were no mortgage options for him because he lacked the required income verification – when the borrower in fact qualified for several viable non-QM loans, one of which he readily and happily accepted.Read More

How Buyer-Reality-Checks Sell More Homes

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When Is 7.99% At 1.5 Points An Awesome Mortgage? The answer to the above subheading is easy – a 7.99% mortgage is awesome if the alternative is a 9% mortgage […]Read More

Understanding Non-Warrantable Condos

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This comprehensive guide covers essential considerations, potential pitfalls, and alternate financing options for non-warrantable condos.Read More

Getting A Jumbo Loan With A Low Credit Score

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Jumbo financing refers to when a property's loan amount exceeds the county loan limits set by Fannie Mae and Freddie Mac. Compared to other types of mortgage financing, jumbo guidelines are far more stringent and nuanced when it comes to income, assets, and credit. Often you can get much more competitive rates with these products, however, it can be much harder to qualify for.Read More

Forbearances Explained; Mortgage Industry In Panic Mode

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Mortgage lenders and servicers are both facing enormous losses for a variety of complex reasons that Barry Habib explained yesterday in an excellent and widely circulated article that I highly recommend - set out at the bottom of this blog.Read More

Liquidity Crisis; Non-QM Shuts Down; Extreme Market Volatility

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One of the biggest issues facing our economy right now is a massive “liquidity crisis.” In simple terms this means there is far too little cash in our economy. The reasons are many and very complicated, and I list a few below. Investors are selling off assets in mass to avoid losses and to raise cash.Read More

When 6.875% Is a “Low Rate” Online Notary Service Too

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ONLINE NOTARY SERVICE We learned about an online Notary service today that can notarize documents for almost anyone at any time from anywhere. This is something we will take advantage […]Read More