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Non QM Loans
Bank Statement, Investor Cash Flow, ATR-in-Full, ITIN, and other non-QM loan programs are available. Built for the self-Employed, investors, and Foreign National Borrowers Programs.We understand that even if our customers are financially stable, they may not qualify for conventional loans. Non-traditional borrowers are eligible for Non-Qualified Mortgage (Non-QM) loans.Bank statements or other documents are used to verify and evaluate a potential borrower's income with non QM Loans rather than W2s or tax returns as we would with a traditional mortgage.
Non QM Loan Options
DSCR Loan
Ratio of debt service coverage. Investment property loans are designed for borrowers who want to diversify their real-estate portfolio. There is no requirement for personal income.With our business purpose loans/DCSR loans, you can expand your footprint.● Properties ranging from one to four units● Rents can be used to qualify (cash flow)● Condotels/AirbnB/Daily Rentals are permitted.● Available Yield Spread / LPC● It is possible to close in Corporate (LLC), but it is not required.● Up to 80% Purchase Maximum LTV ● 575 or higher credit scores
ITIN
An ITIN can be issued to a United States resident alien or non-resident alien who files a tax return but is not eligible for a Social Security Number. Dependents and/or spouses of a U.S. citizen or resident alien may also be issued an ITIN.● Full Doc or 12-Month Bank Statement Required for SE, DSCR● There is no need for Reserves.● A two-year earnings history● A valid government-issued ID from the United States● Purchase with a maximum LTV of 75%● Maximum LTV Refinance of 75%● Loan amounts of up to $1 million
Self-Employed
Business owner are allowed to use their (P&L) Statement as income instead of tax returns, which often provides a more accurate portrait of the applicant's true income profile.
Income documentation: ● CPA prepared P&L on CPA letterhead (must cover most recent two years as well as YTD for the business) and most recent two months bank statements.● Maximum LTV of 80%● Primary residence only, minimum FICO of 600, no FTHB● Property Types: Single-Family Residence / Condo / Townhome (No rural or units)
Investors
Investing in real estate is an excellent way to generate passive income or provide a vacation home for your family. I can assist you in creating your property investment goals by providing the necessary financing.
An investment loan is for a single-family, townhome, condo, or multi-unit property purchased with the intent of earning a return on investment, either through rental income, future resale, or both.
I offer loans tailored to your specific requirements when looking to purchase an investment property.
Have questions about Non QM Loans?
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NMLS #: 21822709960 W Cheyenne Suite 240, Las Vegas NV 89129
Amanda Staples of Merit Lending is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act.
© 2023 Amanda Staples. All rights Reserved
NMLS #: 21822709960 W Cheyenne Suite 240, Las Vegas NV 89129
Amanda Staples of Merit Lending is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act.
© 2023 Amanda Staples. All rights Reserved