Are Non-QM Loans similar to subprime loans?
In our opinion they are not. As was in the old days, someone could simply state their income and assets. Today, with a quality underwriting guideline program, the “liar” loan has been weeded out. You will see new types of Non-QM loans coming onto the scene.
What must I do to understand the bank statement loan process?
Read our site and download the 19 things you need to know Insider Report. Also, call into our office at 1-888-240-1991 and we will gladly go over your scenario free of charge.
Does my downpayment need to be seasoned?
Yes, banks want to see the funds in your account for at least 60 days. Call us however, as guidelines can change.
Are the rates a bit higher than the conventional Fannie Mae / Freddie Mac loans?
Yes, you will see more rate adjustments due to using bank statements. In fact if you personal bank statements than business bank statements, the rate my slightly improve.
I want to be pre-qualified. How do I go about doing this?
Please call us today at 1-888-240-1991