Insights
Unique Benefits for Our Underserved Borrowers
At NonQMFunding.com, we pride ourselves on offering a diverse range of non-QM loan programs designed to meet the unique needs of our underserved borrowers. With loan amounts up to $3 million, we provide flexible and innovative solutions that cater to various financial situations. Here’s a closer look at how we handle these specialized loan programs: Bank Statement HELOC Our Bank Statement HELOC...
Non-QM Mortgage Products
In today's ever-changing mortgage market, non-traditional financing options are becoming increasingly popular. Our Non-QM Mortgage Options offer a variety of solutions for those who may not fit the mold of a conventional borrower. From our Non-QM product options to DSCR product options and Foreign National product options, we have a range of choices to suit your unique financing needs. Whether you're...
How to Manage High Risks Associated with Non-Traditional Lending Products
At NonQmfunding.com, we recognize the significance of managing risks associated with non-traditional lending products. Our goal is to offer top-notch service to our borrowers, addressing all your worries. Below are the most common risks our borrowers may encounter when dealing with NonQM loans. Self-Employed Entrepreneurs Prospective Investors in Real Estate Individuals with Recent Credit Challenges...
Non-QM DSCR 5-9 Unit Program
Adding this multi-family property to our range of Non-QM products expands our offerings to better meet the needs of all our borrowers. Through our DSCR program, this loan is eligible based on the cash flow of the property in question, with a minimum DSCR of 1.25. It provides the flexibility that business purpose borrowers require for a fast and smooth closing process. Loan amounts range from $350,000...
DSCR Loan Saves the Day
We’d like to share a scenario in which we just recently funded a DSCR loan that no other lender was able to accomplish, we got it done. The loan involved a DSCR cash-out scenario with specific details such as the borrower's FICO score of 695, a 60% LTV, and a purchase price of $450k for a California property. Despite facing a setback with the DSCR ratio falling below expectations, our team quickly...
Understanding Condotels: A Unique Investment Opportunity
Have you ever heard of a condotel? If not, you're in for a treat! A condotel is a fascinating hybrid between a condominium and a hotel that offers owners the best of both worlds. Not only can owners enjoy the unit themselves, but they can also generate income by offering it as a short-term rental property. Here are some key details to keep in mind when considering investing in a condotel:...