Non QM Loans

  • Loan Amount up to $10,000,000
  • Purchase up to 90% LTV
  • Non-Warrantable Condo
  • Min Credit Score 500
  • One Day out of Bankruptcy Acceptable
  • Bank Statement
  • Full Doc
  • VOE From Employer
  • CPA Letter
  • Profit & Loss Statement
Also known as subprime or second-chance lending.

It also offers alternative ways for self-employed borrowers to document their income; it could be their business and personal bank statements for the last 2, 12 or 24 months or simply provide a CPA Letter along with P&L Statement to demonstrate the income. It allows them not like any other banks to use their average monthly deposits as average monthly gross income.

These loans are characterized by higher interest rates and less favorable terms in order to compensate for higher credit risk. Proponents of Subprime lending maintain that the practice extends credit to people who would otherwise not have access to the credit market.

In finance, Non QM Lending means making loans to borrowers who may have difficulty maintaining the repayment schedule, foreclosures, bankruptcies, sometimes reflecting setbacks such as unemployment, divorce, medical emergencies, etc.

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