No doubt about it – the housing market has been a challenging one for the past two years.
Home prices remain near record highs, while mortgage rates approached 8 percent in late 2023. With affordability at prohibitive levels, buyers have been putting off purchases of residences and investment properties. It’s a tough market for sure, but that doesn’t mean there’s no business. In fact, despite the slow market, millions of homes sold in 2023. And most housing economists expect things to improve in 2024.
While your competitors are still hunkering down, now is the ideal time to tap into new markets. Non-QM loans are a perfect way to serve your existing clients and find new ones. LendSure offers a variety of innovative products, including the new Profit & Loss (P&L) loans and the 1031 Exchange with Bridge Loan program.
Here are three reasons why you should be partnering with LendSure in 2024, and start adding non-QM solutions to your mix of loan offerings:
1. Diversify Your Borrower Solutions
Instead of only working with homebuyers, you can now work with investors – from rookies to experienced veterans. Some investors may have unique profiles outside of conforming guidelines. By partnering with LendSure, you can now broaden your sphere of clients to self-employed borrowers, business owners, and beyond. They can now qualify for loans based on their business’s profit and loss (P&L) statement. A P&L loan program – also known as a profit and loss statement loan or a P&L financing – is a type of business loan designed for self-employed individuals or businesses that have unpredictable revenue streams. LendSure has a proven track record of working with business owners – so you can market this program to your clients with confidence.
2.Enhance Your Broker-Client Relationships
Elevate your standing as a well-educated broker by leveraging LendSure’s educational resources, including blogs, webinars, and explainer videos. With LendSure you have access to a range of non-QM loan programs suitable for diverse borrower profiles. For example, investors love to take advantage of 1031 exchanges – it’s a tax break that defers capital gains taxes so long as the proceeds are recycled into a similar property. However, not all investors are sitting on mounds of cash. That’s where LendSure’s 1031 Exchange with Bridge Loan program comes in. The borrower/investor can access funds for an acquisition by borrowing against the equity in the original investment property. LendSure’s Bridge Loan is a “no payment due until sale or term” loan, so your client has more time to sell their departure property, and a chance to get the best sale price possible. LendSure’s focus on education and tailored solutions strengthens broker-client relationships, showcasing expertise and commitment to clients’ financial success.
3. Grow Your Mortgage Business with Non-QM Solutions
Offering non-QM products can boost your mortgage business to new heights. With LendSure’s DSCR solution, there’s no limit on the properties owned, and investors can finance up to 10 properties at a time. Debt-service coverage ratio (DSCR) loans are underwritten based on the property’s rental income. LendSure lets your investor clients buy and refinance properties with up to 8 units. As the market shifts in 2024, and investors seek opportunity in the rental boom, you can incorporate these solutions to drive your book of business.
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.