Frequently Asked Questions
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Hopefully we cover your question below, if not feel free to send us a request.
DISCLAIMER: This infomation is meant for educational purposes only and is not to be construed as financial, tax, or legal advice.
You should reach out to the appropriate advisor for your situation.
How can I buy a property without Tax Returns?
Non-QM Alternative Doc loans are used to purchase, Refi, or Cash Out an Owner Occ property utilizing other documents instead of tax returns. Such as Bank Statements or Asset Depletion.
Best for self-employed, retirees, contract workers, or Foreign National borrowers. Loans are still based on your Credit History.
I’m a Real Estate Investor, no W2, I’m Self-Employed, can I get a loan?
Investor cash flow loans is another way of saying DSCR loan. You can finance an income producing property, rental property, using the Rental Income instead of your personal income. Using rental income generated from the subject property is why you don’t need a W2, Tax Returns, or 1099 to qualify.
I’m not a U.S. citizen, can I invest in U.S. properties?
Yes, you can. Foreign National programs are available to purchase Non-Owner Occupied properties in the U.S.A.
No U.S. Credit or FICO is required.
Available to purchase or refinance.
A Foreign National must live and work outside of the U.S., you cannot reside in the United States.
What is the Loan Process?
General Process
- Initial Consultation
- Loan application
- Send Application & Disclosures
- Gather Supporting Documentation
- Loan Underwriting
- Appraisal & Inspections
- Loan Approval or Denial
- Final Document Signing
- Loan Funding/Recording
Your mortgage loan specialist will guide and assit you through the entire process.
What is a Non-QM Loan?
A non-qualified mortgage, or Non-QM, is a home loan that is not required to meet agency-standard documentation requirements as outlined by the Consumer Financial Protection Bureau (CFPB). It is a non-agency loan, FHA, Fannie Mae, or Freddie Mac does not fund the loan. It is funded by private investors. It is considered a non-conventional/ non-traditional loan. Features like Interest Only disqualify it from being a “Conforming” loan.
What is a DSCR Loan?
Non-QM loan term meaning Debt Service Coverage Ratio (DSCR). This type of loan allows the borrower to qualify for a mortgage based on Cash Flow generated from an investment property rather than a borrowers personal income. Measuring the cash flow (rental income) against the debt obligations (service). It is used on income-producing properties.
Can I finance more than 1 property?
Yes, financing more than one property is allowed. We should discuss the best way to structure, which to do first, reason (cash out), and if you plan to purchase another property.
Where do you lend?
Non-Owner Occupied Loans available All States except; Alaska, Michigan, North Dakota, Ohio, South Dakota, and Vermont.
Owner Occupied Loans available in California.
Can I buy in an LLC, Corp, or Trust?
Yes, you can purchase in an LLC or Corporation instead of your name. There are exceptions, it depends on the State you are purchasing in. Contact us to verify the state.
Yes, you can buy in a Trust except in the State of Florida.
What if I don't own a house already?
The No DSCR non-owner occupied program is available for current renters or 1st Time Home Buyers. Contact us to discuss your property.
What is an Investor Cash Flow loan?
Investor cash flow loans is another way of saying DSCR loan. You can finance an income producing property, rental property, using the Rental Income instead of your personal income to qualify. Using rental income generated from the subject property is why you don’t need a W2, TAx returns, or 1099 to qualify.
If you have any questions not covered here, feel free to use the Contact Form to send us your question. We look forward to assisting your queries.
OTHER LOAN PROGRAMS WE OFFER
NON-OWNER
OCCUPIED LOANS
FOREIGN NATIONAL
LOANS
OWNER OCCUPIED
LOANS
NON WARRANTABLE
CONDO LOANS