Navigating Non-QM Loans for Realtors

INTRODUCTION TO

Overview of Non-QM Loans

Non-QM loans are an important tool for realtors to understand in order to help their clients. These loans can provide more flexibility and options for borrowers who don't meet the traditional requirements of a QM loan.

Qualifying Requirements

Understand The Borrower's Credit Profile

Review the borrower's credit score, debt-to-income ratio, and other financial information to determine eligibility

Verify Income And Assets

Confirm the borrower's income and assets to ensure they meet the loan requirements

Check For Any Liens Or Judgments

Ensure that the borrower does not have any outstanding liens or judgments that could affect their ability to qualify for a loan

Pros and Cons are two sides of the same coin. Appraisal guidelines are no different.

Product Offerings

Non-QM Loan Types

Explain the different types of non-QM loans available, such as portfolio loans, bank statement loans, and asset-based loans.

Loan Qualifications

Discuss the qualifications for each type of loan, such as credit score, income verification, and debt-to-income ratio.

Benefits Of Non-Qm Loans

Highlight the advantages of non-QM loans, such as flexible terms and faster processing times.

Managing Payments and Adjusting Balances in Home Loan Escrow Accounts

Day 1: Realtor submits loan application

Day 2: Loan application is reviewed by lender

Day 3: Lender sends loan approval to Realtor

Day 4: Appraisal is ordered

Day 5: Borrower signs loan documents

Day 6: Closing Disclosure sent to Client