Do not comply with the Qualified Mortgage rule, better known as the ability to repay.
- Interest-Only Non-QM Loans.
- Stated Income: Ideal for borrowers who can’t provide fully documented income
- Loans with DTI Ratios Above 43%: Many loans can still exceed 43% DTI and get the QM seal of approval.
- 40-Year Mortgages and Neg-Ams.
- Credit scores as low as 500
- No seasoning for foreclosure, short sale, deed-in-lieu
- Up to 75% LTV
- Loans up to $1 million
- Non-warrantable condominiums allowed
- Owner-occupied, second homes, and investment properties
- No pre-pay penalty for owner-occupied and second homes.