Tired of turning away clients who don’t fit the conforming mortgage mold? We thought so. We know understanding and leveraging Non-QM loans can open doors to new business opportunities and a broader client base.
So, what are Non-QM loans exactly, and why are they key to your mortgage business’s success? Let’s explore the potential of Non-QM lending.
What Are Non-QM Loans?
Non-QM loans are mortgage products that don’t adhere to the stringent guidelines set by government-sponsored enterprises like Fannie Mae and Freddie Mac. Unlike Qualified Mortgages (QM), which require standard income verification, credit scores, and employment history, Non-QM loans offer flexibility in qualifying criteria.
Non-QM Loan Market Opportunities?
The rising demand for Non-QM loans is driven by multiple factors. Significant contributors include the 9.68 million self-employed people in the U.S., the gig economy, foreign nationals, real estate investors, and borrowers seeking non-warrantable condos. These groups seek alternative financing solutions, offering opportunities for those who may not meet standard mortgage criteria.
Non-QM loans cater to a variety of borrower profiles, including:
- Multi-property owners
- Borrowers with alternative income documentation
- Gig economy workers
- Non-U.S. citizens
- Commission-based employees
- Property flippers
- High-net-worth individuals
- Retirees with significant assets but low or inconsistent income
- Business owners
- Contractors or freelancers
Simple Tips To Find Borrowers
To tap into the lucrative Non-QM market, just follow these tips:
Find The Right Lending Partner: Selecting the right lender to work with is essential in the Non-QM space. Look for lenders like LendSure that offer a comprehensive range of products and educational resources, like webinars and whitepapers, to keep you informed about the latest on Non-QM offerings.
Market And Educate: Incorporate the lender’s educational resources into your mortgage business to strengthen partnerships and attract clients. Leverage email marketing and consider establishing a strong social media presence on platforms like LinkedIn to reach a broader audience. You can share success stories, informative videos, whitepapers, and even host webinars to build trust, credibility, and showcase how Non-QM loans offer flexible funding options while promoting your services.
LendSure’s Resource Corner! Master Non-QM loans with our exclusive white paper and find the right tools to grow your business with our marketing resources kit, designed to help you effectively promote a range of Non-QM loan programs!
What Are LendSure’s Non-QM Loan Offerings?
At LendSure, we offer a wide array of Non-QM loan programs to meet the unique needs of your borrowers. Here’s a closer look at a few of our programs.
- Asset Depletion/Asset Qualifier: This is for high-net-worth individuals or retirees who qualify based on assets rather than income. Borrowers use liquid assets to meet loan requirements.
- BOOST Bridge Loan: Helps borrowers use their existing home’s equity for a down payment on a new property. Ideal for buying a new home before selling the current one.
- Fix and Flip Loan: Provides capital for real estate investors to purchase, renovate, and sell properties quickly.
- Jumbo Loans: For borrowers needing loan amounts that exceed conforming limits. Perfect for high-value property purchases.
- DSCR Loans: Focus on the property’s cash flow rather than the borrower’s personal income. Available for 1- to 8-unit investment properties.
- Bank Statement Loans: Designed for self-employed borrowers. Qualify using months of bank statements, making it easier for those with fluctuating incomes to secure financing.
The LendSure Way
It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers ratios, and data to consider, but we know that behind every file, there’s an individual with a unique circumstance seeking a loan. We work hard to offer our common-sense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio, or refinancing of a currently-owned property.
Are you ready to benefit from a commonsense approach to lending? Contact us today to learn more about non-QM loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line.
