The Qualified Mortgage (QM) Rule brought about the concept of Non-QM lending. Loans that do not meet the complex rules that are associated with QM are considered Non-QM loans or portfolio loans. Non-QM loans take a common sense approach to underwriting and a borrower’s creditworthiness to determine the willingness and ability to repay the loan. Each situation is unique and each loan is weighed on its own merits. Every lender will approve loans bases on reasonable belief that the borrower has the ability to repay.
Programs: Non-QM Investor Program, ITIN Purchase, bank statement programs, Fresh Start and many other.
Home financing available for borrowers that recently had a bankruptcy, foreclosure, deed-in-lieu of foreclosure or short sale.
No waiting period and no seasoning required after a bankruptcy, foreclosure, deed-in-lieu of foreclosure or short sale
Low minimum credit scores acceptable
Eligible properties include single family residence, condominium, co-op, 2-4 unit property or home in PUD.
All loans are subject to credit, underwriting and property approval guidelines. Offered loan products may vary by state. There is no guarantee that all borrowers will qualify. Restrictions may apply. This is not a commitment to lend. Terms, conditions and programs are subject to change without notice. Nationwide Mortgage & Realty, LLC is not acting on behalf of or at the direction of HUD/FHA or any government agency. CO: Check license status of your mortgage loan originator at www.dora.state.co.us/real-estate/index.htm. Also licensed in: FL. VA, and TX: NMLS ID 276777. Illinois Residential Mortgage License | MB. 6760210. WA: Consumer Loan License MB-276777. GA: Georgia Residential Mortgage Licensee 60857