Tag Archive for: non-qm loans

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; ≠ Free Lunch; Mortgage Industry In Panic Mode

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The entire Mortgage Industry is in a state of panic right now. This is b/c so many potential borrowers could skip or miss payments, and b/c the Fed is pushing […]Read More

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

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LIQUIDITY CRISIS 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 […]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

More Condo Reminders – Non QM; Owner Occ Ratios; Condo vs. Townhome; 12 Considerations

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Below are a few more reminders for condo buyers. Non-QM Loans for Condos There is a condo complex near our office that is still 25% owned by the developer. This […]Read More

“Non-QM” Loans Revive Dead Deals!

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A loan officer I know recently called all of the Realtors in his network to tell them about “non-QM loans,” and he came away with $4 million of loans/transactions that would never have closed but for his phone calls.Read More

“Bank Statement Loans;” Non-Agency/QM Loans; Unseasoned Credit

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“Sub-prime” or “non-agency” or “non-QM” loans are surfacing again. These are for borrowers who do not meet traditional Fannie, Freddie, FHA or JUMBO Guidelines. Examples include people with unseasoned short-sales, […]Read More