Self-employed? You May Still Qualify for a Non-QM Loan

October 23, 2019
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Many Americans know how difficult it is to buy a home. This is especially true if you are self-employed. Little-known fact: for most lenders to give a self-employed individual a home loan, the borrower will need to prove at least two years of self-employment.  Often, the typical mortgage loans are not designed for the self-employed, […]

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How to Use Non-Traditional Credit to Get a Mortgage 

October 16, 2019
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Finding your forever house can be difficult. What’s even harder is getting accepted for a loan to buy that dream house, especially if you have bad or no credit. That’s why many borrowers are looking to bank statement loans to help them finance their house.  Mainstream mortgage lenders will not grant you a home loan […]

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Who Benefits from Bank Statement Loan Programs?

September 17, 2019
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FHA loans are still the most popular loans for homeowners. However, as more and more people looking to buy their first homes, they are discovering other types of loans, including bank statement loan programs. These programs came about because there were no alternatives for those who were unable to verify their income the traditional way. […]

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Can You Make a Mortgage Payment With Your Credit Card?

September 10, 2019
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You pay all of your other bills with your credit card, so it makes sense to assume that you can pay your mortgage with a credit card. However, it can be difficult to find companies that will accept debt-for-debt payments. Whether you are allowed to pay your mortgage with a credit card will depend on […]

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10 Terms First Time Home Buyers Need to Know

August 30, 2019
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If you are a first-time home-buyer, you have probably started hearing jargon from your realtor, loan officer, family, and friends that might as well be from another language. Terms like “bank statement loan” and “qualified loans” are dropped in casual conversations. To be ready, here is a little vocabulary lesson in words you should know. […]

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Characteristics of Today’s Non-QM Mortgages

August 28, 2019
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Non-qualified mortgage loans, loans that don’t meet the standard criteria for qualified mortgages, are becoming more popular. Many potential home buyers do not conform to the standard workweek and paycheck and thus appear risker to traditional lenders. Non-QM loans allow for greater flexibility in determining which borrowers are worth the risk.   Who uses a […]

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How To Fix and Rebuild Bad Credit

August 26, 2019
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Learning that your credit isn’t great can be a stressful realization. Low credit can mean higher interest rates or be completely disqualified for loans altogether. Luckily, you are never stuck with your current credit score. There are several unique ways to repair your credit, including bank statement loans and credit-builder loans.   What is a […]

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Breaking Down Non-QM Lending

August 20, 2019
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If you are looking to buy a house but don’t have typical income or credit, you might feel like you’ll never get your own home. While you may not qualify for the standard, qualified loan, you don’t need to give up hope. Luckily, there are non-qualified mortgage loans that exist for people like you. These […]

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Alternative Mortgage Lending and Credit Easing

July 31, 2019
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All homebuyers are different. Everyone is unique in that they may or may not fall into the standard bucket of individuals looking for a conventional 30-year fixed-rate mortgage. Due to factors such as credit and income, individuals may believe a home is out of reach. Non-QM loans or a non qualified mortgage loan can assist […]

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Can Self-Employed Borrowers Qualify For Bank Statement Mortgage

July 27, 2019
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If you’re self-employed, don’t make the mistake of thinking that you can’t take out a home loan. Self-employed borrowers may be eligible for some good mortgage programs. This includes loans that don’t require you to submit tax returns but let you use your bank statement to verify your income instead.  Multiple lenders now offer bank […]

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