Non-QM Portfolio Lender Service

Non-QM Portfolio Lender Service Overview

If you think you don’t perfectly fit within the standard guidelines of a traditional lender, you may be right. This out of the box (non-qualified / non-qm) portfolio lender on an exception basis,  will look at and consider almost any “make sense” loan scenario/application with an 80% LTV or lower. Examples of this would be a high DTI of > 55% or perhaps <2 years, unseasoned employment history. Guideline exceptions are one of the potential advantages of working with a portfolio lender. Portfolio lenders typically will hold onto their loans, not just service the loan; exceptions are made in-house, not based upon a request from an outside investor.

Think of it as a big bank with a wholesale broker division. Think of BrokerMortgages, Inc as a wholesale broker for the borrower.

Quick Close

Loan submissions go directly to the Lender Rep for time and over-all service efficiency for fast closings in 30 days or less and pre-approvals done within 48 hours of complete submission.

Non-QM Portfolio Lender Niche Overview

Some of our specialty programs include asset depletion loans, non-warrantable condos, condotels, co-ops, foreign nationals and work visa borrowers with no US credit or tax returns.

We can offer no credit, DACA, work, and student visas, EAD, or other work authorization loans. Portfolio niche lender with loan amounts to $5 million with unlimited cash out for debt consolidation, kid’s education or just simply cash in hand up to the $4,000,000 with no purchase seasoning requirements for appraised value up to 90% LTV available.

Title/Vesting

LLC closings allowed for investment properties including cash out. Gift funds allowed for down payment and reserves, even on investment properties.

Self-Employed Borrowers

For 1-year tax return calculation allowed for self-employed borrowers at 85% LTV. Flexible Debt-to-Income (DTI) and Reserve (liquid assets) Guidelines.

We can exclude the PITI payment from debt ratio on a primary residence listed for sale with 30% equity.

Removal of alimony and child support from the income vs. adding as liability and cash out can be counted towards reserve requirements or added to the asset depletion to reduce debt ratio.

Non-occupant co-borrower allowed on Cash Out refi, second homes, and purchases with true blended ratios.

RSU’s, Stock Options, Stock Grants may be used as income and the vested stock can be used as an asset.

Hobby farms, acreage properties, mixed-use, properties with out-buildings and other unique properties considered.

Advertisements

No comments yet

What do you think??

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: