If you do not qualify for a Conforming or a Governmet loan, Adrian Citroni a Mortgage Broker in Catonsville & vicinity is now offering a solution to your situation. It is called a Non-Qualified Mortgage, also called a Non-QM mortgage loan.
A Qualified Mortagage is one that is conforming, which means it follows all the rules of a conforming mothgage. These are loans that can be purchased by Fannie Mae or Freddie Mac and must conform to their rules: Down Payment, Credit Score, DTI - Debt to Income Ratio, etc.
A Non-QM or a Non-Qualified Mortgage — is a home loan that is not required to meet agency-standard documentation requirements as outlined by the Consumer Financial Protection Bureau (CFPB). Non-QM Mortgages are Non Conforming and can have slackened Credit, Debt or Asset Requirements. As you may guess Non-QM loans satisfy a variety of potential buyers who would be unserved.
Non-QM: A Seat for Every Bucket ------
Here is the Low-Down:
- Asset Qualifier Mortgage. No Income, No Employment or No Debt to Income requirements are needed to justify your ability to pay the mortgage. Quallify by Using your current assets.
- No Income/High Assets: Qualify for loans using your liquid assets, It does not require employment or debt to income to justify ability to repay. This is a great opportunity for borrowers that have enough assets to buy the home outright, but they don’t want to liquidate their assets to completed the purchase.
- Unexpected Life Events: This fulfills the financial goals of a Borrower that was affected by a unexpected negative life event e.g., medical issues, job loss, death of spouse, unexpected spouse abondment/divorce
- Unexpected Credit Event: This helps a borrower that was affected by a negative credit event (e.g., job lay off, recent mortgage lates, Bankruptcy, Foreclosure or Short Sale).
- Self-Employed Refinance Programs. These programs crafted for self-employed individuals. You will not have to gether and submit documents and forms that you don’t have; that means No W2’s or Tax Returns.
- 1099 Income Mortgage: "A Freelancers Dream.” Your 1099 Statements will be used to calculate your income in lieu of Tax Returns. No Income, No Employment, No Debt to Income or any other income type documentation requirements will be needed to justify your ability to pay your mortgage
- Bank Statement Program instead of tax returns for the Self Employed. This enables borrowers to go up to 90% LTV without having to pay Mortgage Insurance.You can use Business or Personal Business Bank Statements. It is based on cash flow and liquid assets since your tax returns and W-2s of pay stubs alone may not tell the whole story.
- Investor Cash Flow Mortgage: permits a Borrower to qualify based on rental income analysis . NO personal Income required to qualify. That means NO TAX RETURNS. It is actually a loan that is based on the Debt Service Cover Ratio (DSCR) versus income and debts.
Loan Closing will be arranged at your convenience and if wanted, in the privacy of your home or business.
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ADRIAN CITRONI - MORTGAGE BROKER
Primary Service Area: Catonsville & Vicinity
Academy Heights, Arbutus - Halethorpe, Catonsville, College Hills, Elkridge, Ellicott City, Oella, Westchester
Licensed Loan Originator NMLS# 144522; MD - DC - PA - DE - VA - FL - CA
CALL OR TEXT: 410-916-0776