Mortgage lenders provide funding for an array of projects.
Fortunately, you’re a real estate developer, an investor or a local business owner, and you have the resources to repay a mortgage loan.
However, you may not have financial documentation to get approved for a traditional mortgage loan.
Here’s where Abo Capital can determine if you’re eligible to obtain a non-qualified mortgage loan.
What is a Non-Qualified Mortgage Loan?
Conventional home loans and government-backed mortgage loans conform to standards that are set by Fannie Mae and Freddie Mac.
The standards require borrowers to fully qualify with stable income that’s within acceptable debt-to-income ratios.
Non-qualified mortgage loans have alternative requirements.
With flexible income guidelines, lenders can offer Non-QM loan programs that appeal to the needs of various investors.
Therefore, instead of requiring self-employed borrowers to provide tax returns, paystubs or W-2s, a lender may request 12 months of bank statements, 24 months of bank statements or a letter from your CPA.
Are Non-QM Mortgage Loans Right for You?
As a self-employed home buyer with inconsistent income, you may own income-producing properties or you might have a side gig, a non-qualified mortgage loan may be great for your situation.
If you’re purchasing a home that exceeds the conforming loan limits, a Non-QM loan may be the ideal product for you.
Additionally, if you have the resources to make timely mortgage payments, but your debt-to-income ratio exceeds traditional lending limits, a non-qualified mortgage loan could be just what you need.
If you own an investment property, you might be able to borrow some of the equity via a Non-QM mortgage loan.
A licensed mortgage professional can review the benefits of using alternative lending products to reach your goals.
Apply for a Non-QM Mortgage Loan
If you’re a real estate investor or you are self-employed, a non-qualified mortgage may be recommended if you’ve been denied for a traditional home loan.
A reputable mortgage company can review your application for a Non-QM loan to determine if you meet the approval requirements.
Typically, Non-QM loans are processed faster than traditional mortgage loans, as employment verifications are not performed.
You are encouraged to speak with mortgage professionals who specialize in helping self-employed borrowers obtain funding.
Abo Capital is based in Los Angeles, CA, and known throughout the nation for helping borrowers get money in a hurry, when banks say, NO.”
Our lending services are second to none!
Right now, you can apply for a Non-QM loan.
Contact Abo Capital at (310) 984-8028 or Apply online.
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