As a real estate investor, you can dodge high rates and high points of private loans, lengthy approval processes, and stringent lending criteria with a debt service coverage ratio loan.
If your income or credit history falls outside the strict guidelines set by traditional mortgage loan programs, a non-QM loan may be worth considering.
1099 Mortgage loans allow you to ensure a mortgage without the documentation you usually use to verify your income, such as W-2s and tax returns. Instead, workers qualify based upon the the 1-2 years of 1099's.
An asset-based mortgage produces an ‘income stream’ from your assets by depleting them over the mortgage term. It’s how you qualify despite not having a traditional income.
An escrow holdback is an act of collecting additional funds at closing that will be refunded after required repairs have been made to the purchased property.
A bank statement loan is often an excellent option for qualified self-employed borrowers. However, self-employed borrowers must choose the best loan product to help fulfill their mortgage needs.
Disclosure: The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.
