Non-Qualified Mortgages or Non-QM

Non-Qualified Mortgages: The Bank Statement Mortgage Loans (click here for more info on this one) are the most popular, but the runner up is the Investor Cash Flow (ICF) or Debt Service Coverage Ratio (DSCR) or No Debt to Income (DTI) Ratio loan. This allows someone to buy an investment property by putting at least 20% down on a residential property without verifying the income or debts of the buyer. So we sue the income of the property, instead of the income of the owner. Just like a commercial mortgage. Other Non-QM loans allow you to use assets or money in investments without touching those funds. We have a calculation that gives us an income amount based on the amount you have invested, and you don’t have to have a job or other steady source of income. The key for all of these is the Ability to Repay (ATR). Foreign National Mortgage Loans also fall under Non-QM, click here for more info on Foreign National Loans. There are many other variations too. Bad credit, 1 day out of bankruptcy, one day out of foreclosure, and more.

If you would like more information, please give us a call at 888-845-6630 or email us at info@pslending.com.