7 Terms to Understand When Taking Out a Non-QM Loan
As you may have found while looking for mortgage lenders in your area, some homebuyers don’t fall into the standard box for mortgage lenders. This can be for a variety of reasons, ranging from credit to income, and more. Potential homebuyers may even assume that they can’t even get a loan because they don’t know […]
Read More
Are Nonqualified Mortgages The Same as Subprime?
Subprime mortgages first gained popularity in the early 2000s. However, there’s a new type of mortgage loan out there building upon the success of subprimes. Non-qualified mortgages are not subprime, but they are similar as they do not conform to the typical underwriting guidelines of qualified mortgages. Non-qualified mortgages are a confusing topic for a […]
Read More
Self-employed? You May Still Qualify for a Non-QM Loan
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, […]
Read More
Easier Bank Statement Loans Guidelines for the Self-Employed
Financial institutions operate under very stringent rules and regulations that keep watch of all activities and ensure financial stability. Advancing of loans has conventionally been a product of the employed with the self-employed getting subjected to lengthy process before their money is disbursed. New loan guidelines have brought solace as bank statement mortgage loans are […]
Read More
Self-Employed? Buy a Home with a Bank Statement Mortgage
If you are self-employed like many young people in this generation, you might be worried about getting a mortgage. Sadly, for most people who are self-employed, they are likely to miss out on obtaining a mortgage. However, you should not give up yet on getting a good mortgage deal, especially if you have dependable income […]
Read More
Insight about Non QM Loans
One of the significant accomplishments in a person’s life is to own a home. If you are not financially well-off, you can use a mortgage to purchase a home. There are various types of mortgages, and in this context, we will discuss about non-QM loans. For starters, non-QM loans do not follow the rules and […]
Read More