Non-Traditional Loan
WHAT IS A NON-TRADITIONAL LOAN?
Non-traditional or Non-QM loans are designed to provide financing options for borrowers who may not meet the criteria of traditional qualified mortgages. They offer more flexible underwriting guidelines compared to qualified mortgages, considering factors such as alternative income documentation, higher debt-to-income ratios, or complex financial situations that may not fit the traditional lending standards.
NON-TRADITIONAL LOAN HIGHLIGHTS
ALTERNATIVE DOCS INCOME VERIFICATION
COMPLEX FINANCIAL SITUATIONS
NON - US CITIZENS CAN QUALIFY
HIGHER DEBT TO INCOME RATIOS
WHO CAN BENEFIT?
Non-QM loans are particularly suitable for borrowers with unique circumstances, such as self-employed individuals who may have difficulty providing traditional income verification, individuals with recent credit events like a foreclosure or bankruptcy, or foreign nationals who may face challenges meeting the documentation requirements of qualified mortgages.
One of the key advantages of non-QM loans is that they may allow borrowers to provide alternative documentation to verify their income or assets. This flexibility is beneficial for individuals with non-traditional income sources or those who cannot meet the strict documentation requirements of traditional mortgages.
Are you interested in learning more about getting Non-QM loan?
Contact me for more information and answers to all our questions. No matter where you are in California, HPI Financial will get the right loan for you. Call me today at 408.316.2071