What Are Non-QM Loans Versus QM Mortgage?

July 26, 2019
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Many people have the dream of one day owning a home; however, only a few people can purchase a home in cash. Therefore, nearly everybody needs to take out a loan in the form of a mortgage. It can be a challenge to convince a bank, credit union, or another lender that someone is qualified […]

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Things to Keep in Mind Before Applying for a Bank Statement Loan

July 22, 2019
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If you are in the market for a home, you are likely in the market for a mortgage loan. For some people, a traditional mortgage loan is out of the question. If you have applied for a traditional loan but been denied due to credit issues or inconsistent income, bank statement mortgage loans might be […]

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24 Month Bank Statement Loans – How to Qualify

July 17, 2019
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With the ever-increasing number of freelance, gig-economy, and other non-traditional employment, it’s no wonder that some banks are moving away from only offering traditional, qualified loans. One of the newest programs for non-traditional workers is the 24-month bank statement loan. These bank statement loans take a holistic look at a worker’s income instead of relying […]

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Non-QM Loans: Getting a mortgage loan with non-traditional employment

July 15, 2019
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Freelance and non-traditional employment is becoming more prevalent in today’s world. An estimated 50 million people throughout the U.S. are turning to non-traditional work, whether it’s starting their own businesses, freelancing, or being part of the gig economy (with companies like Uber, Airbnb, etc.). While the freedom to pursue freelance work is wonderful, there can […]

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How a Bank Statement Mortgage Works

July 12, 2019
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If you have income that is difficult to document or take advantage of many tax write-offs, you might find it challenging to qualify for a traditional home loan. Regulatory measures from the Consumer Financial Protection Bureau can make it more difficult to qualify for a mortgage without a standard W2. Luckily, there is a newer […]

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Non Qualified Mortgage Rates, Lenders, Guidelines for 2019

July 8, 2019
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There are a variety of reasons that some potential homebuyers feel they may not qualify for a standard mortgage: credit scores, employment status, and/or income, to name a few. This can lead these homebuyers to believe that a new home will never be in their future. The good news is that these homebuyers shouldn’t give […]

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Why prospective borrowers should say yes to Non-QM Loans

May 30, 2019
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What are non-QM loans Non-Qualified loans otherwise referred to as Non-QM loans are currently proving to be the best alternative financial reprieve for many prospective borrowers. Non-QM loan’s popularity stems from the fact that they bypass the existing Consumer Financial Protection Bureau (CFPB) rules and regulations. CFPB rules and regulations are set to prohibit or […]

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Things that mortgage lenders fear seeing on bank statements

May 29, 2019
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Why lenders require bank statements One of the critical documentation that your lender might ask for during a mortgage loan application process is your bank statements. The mortgage lender uses the bank statements to assess and verify the borrower’s credit history and the ability to repay the loan on the specified period. The lender uses […]

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Mishaps to look out for when applying for a mortgage loan

May 27, 2019
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What are mortgage loans? Mortgage loans are a preferred method used by property and residential owners to secure loans to be used to raise funds to purchase or build real estate for or for any other purpose. The owner’s property or residential estate is used as collateral to secure the mortgage loan. The lender of […]

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Bank Statement Mortgage Loan Programs in 2019

April 25, 2019
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Taxable income should not stop one from getting a low-rate mortgage. It is estimated that close to 12% of the American workforce are self-employed in 2019. At times, people who fit into the self-employed class have certain issues when it comes to acquiring loans. This is due to the fact that their documentation for income […]

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