Non-QM Loan Programs

12387728 l 960x640 - Non-QM Loans

In recent years, the new regulations like Ability-to-Repay and Qualified Mortgage rules exiled subprime lending of the past.  Today, Non-QM loan Programs in Colorado are on the rise as investors and lenders become more comfortable with loans that don’t have as stringent credit requirements as government loans.  Over the past couple of years, many wholesale lenders have increased their offerings that include Non-QM loans. These packages offer a number of advantages including those listed below:

  • Bank Statements can now be used for income qualifying
  • Non-QM Loans are Ideal for self-employed borrowers
  • Loan amounts  to $10,000,000
  • Investment Properties can qualify based on Debt Service Coverage Ratio (DSCR) of 1% (break-even or cash flowing rental income)
  • Recent Derogatory Credit Events (BK, Foreclosure, Short Sale, etc.) are allowed
  • Credit scores as low as 580 FICO are also allowed
  • Interest-Only payment options available up to 80% LTV/CLTV through a Non-QM Loan program in Colorado
  • Non-QM loans are available for a Primary dwelling, a 2nd Home, and also Investment property transactions
  • Purchases and Rate/Term refinances allowed up to 95% LTV
  • Cash-Out refinances allowed up to 85% LTV
  • No Mortgage Insurance requirement

Contact Dave Kevelighan for Non-QM Loan programs in Colorado & Arizona today!