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
