Non-QM Loans Are Booming This Year – Helpful info from Tracy Shaw at Prestige Capital
Non-QM (non-qualified mortgage) loans have become more popular this year, as they offer much more flexibility to various types of borrowers. These programs allow borrowers to qualify using alternative methods, outside the strict lending requirements outlined by the Consumer Financial Protection Bureau (CFPB).
These loans are especially attractive to:
- Freelancers and independent contractors
- Business owners
- Borrowers with high Debt-to-Income (DTI) ratios
- Borrowers with a recent bankruptcy or foreclosure
- High-net-worth borrowers seeking to qualify for a loan based on assets, rather than traditional documentation
- Real estate investors seeking financing on multiple properties
Non-QM loans hit a record high in July, with a strong demand coming from investors and self-employed borrowers leveraging the more tailored underwriting methods offered by this type of program.
Want to know more about Non-QM loans? Give me a call, and we can explore your options to find the best loan program to fit your unique needs!
Tracy Shaw
President NMLS # 913749 | CalBRE # 01894272
Direct Line: 626.758.0588
Prestige Capital Inc.
41 E Live Oak Ave, Arcadia 91006
Helping clients achieve home ownership with expert lending solutions and personalized guidance.
