This loan program is considered Non-QM or Non-Qualifying because it does not qualify to adhere to stricter governmental standards of QM mortgages (or Qualifying Mortgages) that conform to that standards set by FNMA and FHLMC (Fannie Mae and Freddie Mac) and HUD (Department of Housing and Urban Development). By having this program more neutral and independent, it does not make it a riskier program but rather making it a different qualification standard that would work well for those who don't qualify for a Conventional or QM Loan.
Here are the various ADVANTAGES of NON-QM Loans:
- Easier Income Verification Standards
- Higher Loan Amounts Acceptable
- Lower FICO Scores Can Be Acceptable
- Fixed Assets Can Be Used to Qualify
- Higher LTV Range Acceptable (with Income/Revenue)
- LLCs, Corporations and Trusts Can Qualify
- Can be used for Residential and Commercial Loans
- Investment & Income-Generating Properties Can Qualify
- No Mortgage Insurance Requirements (PMI)
- Good for Self-Employed Borrowers & Business Owners
- Distressed Property Owners & Bankruptcies May Qualify
- Can Work for Asset-Based Buying & Prime Credit
Loans that go above a certain QM / qualifying loan amount and if DTI is above a certain set % value-limit, then those are considered Non-QM Jumbo Loans which can become a good option for certain borrowers who need a bigger residential loan.
Nowadays, there are even more and more of wholesale direct lenders who have Non-QM as a viable/better alternative to certain other loan programs. Or also, Mortgage & Finance Broker companies benefit by offering such program via direct lenders in order to create a diverse portfolio of loan products that borrowers can choose from.
If you need help with Non-QM Loans, please don't hesitate to contact us:
800-822-9808 - Or fill out our simple form to see if you qualify:
* Less stringent requirements - higher rate of approval
* Faster and more efficient escrow funding process
* Easier to work with private lenders & investors
* More Flexible loan terms - more transparent process
* Unlike with regular banks, there are no hidden fees
* Less paperwork - less bureaucracy - less stress
* Great for real estate investment & flip properties
* Let's you tap into a trusted real estate business network
* Deal with a reputable / honest loan processing center
* More individual attention and better client service
* No pre-payment penalties for paying off your loan faster
* Also works very well for commercial / hard money loans
* Secure loan structure that benefits all parties
Original Source: https://www.mlofinancial.com/single-post/2018/07/25/Advantages-of-Private-Lending-via-Private-Investors-via-MLO-Financial
Boost Your Property Value with Remodeling Upgrades via Fixvest - Make your HOME or OFFICE more SELLABLE
Upgrade your Kitchen, Bathroom, Flooring + Other Home & Office Improvements for best interior & exterior design! Among the best value solutions we can offer via Fixvest is to upgrade your home or office so you can have that sense of comfort and aesthetics along with the higher increased value of your property that would be eventually very desirable for a higher resale value.
We work with highly skilled construction & design workers would be able to work with you on remodeling and upgrading your kitchen, bathroom, flooring, roofing/SOLAR, landscape, security, smart tech, appliances + repair and even professional/green cleaning.
We carefully select the companies we work with and thereby promising a comprehensive level of higher quality of remodeling upgrades that would make your home or office look absolutely beautiful!
For any questions, please contact FIXVEST at firstname.lastname@example.org or call 714-758-5467
In additional to conventional / residential loans, we also work with the commercial & private loans sector that deals with private lending, real estate investors and brokers. We only work with the most reputable affiliates who would be glad to help you try to get the best deals and best opportunities in the real estate and mortgage business. There are many advantages of working with private lenders & real estate investors and mortgage brokers...
If you would like to learn more about real estate investment opportunities ORif you have any questions on how you can obtain a private loan for residential or commercial purposes, please contact MLO Financial at: 800-822-9808 - Ext: 810 Or please contact Greg at email@example.com
Nowadays, with even more incentives and more affordable technology programs, solar energy has been taking over as a more practical and more economical clean energy alternative that has been providing lots of savings & tax deductions for those who choose to take advantage of it before certain programs will expire. Among those constant benefits of solar eco-energy upgrades is that it has a way of increasing property value while helping the environment.
Advantages of Upgrading to Solar Energy:
+ Energy Savings over Conventional Utility Bills
+ Clean Energy Alternative that You Can Control
+ More Secure Electric Power with Decreasing Prices
+ Increases Property Value for Resale & Profits
+ Tax Deduction Incentives and Government Programs
+ Take Advantage of the 30% Tax Credit Benefits
+ Flexible Finance Options: Loan, Cash, PPA & PACE
+ It's the Present AND the Future of Renewable Energy
+ Has a Very Long Life-Span with Low Maintenance
+ 20-Year Inverter Warranty & 10-Year Roof Warranty
+ Installed by Skilled & Licensed Solar Contractors
+ Great Investment Opportunity that Can Pay for Itself
For any questions, please contact Fixvest at firstname.lastname@example.org
Or please call or text 714-758-5467
1. Keep Building Networks: To understand the value behind building solid networks means to realize how important it is to have a network outreach that would be helping with ongoing loan/business referrals as well as team-building and recruiting. A solid referral network is a back-bone of any successful business. This means, you have to be able to build and maintain trusted relations with lenders, borrowers, real estate brokers, mortgage loan officers and loan originators, underwriters and even escrow officers or neutral parties that will help bolster your business. As the wise saying goes, “While poor people are looking for work, rich people are building networks.
2. Never Stop Marketing: Mortgage industry can be very competitive since there so many mortgage and lending companies that wish to come out on top of the game. Many banks already have their own loan officers which creates a challenge for any self-employed mortgage specialists. To stay one step ahead, it’s important to advertise via such sources as social media, local ads, listings, website/SEO marketing and email campaigns as well as networking, recruiting, generating referrals while at the same time doing PR marketing with educational materials. Making interactive videos and writing blogs appear to be the modern trends of promoting yourself online while bringing educational value to your prospects.
Affiliate referral marketing is also among the more effective ways of staking out the mortgage territory to result in more mortgage and worker referrals. Asking current clients and contacts for genuine referrals is always a good idea.
Other methods of effective marketing revolve around scheduling meetings, considering that people trust more those whom they’ve met in person as opposed to just a phone call or an email. Localizing network campaigns is yet another smart strategy of nourishing those connections that are most valuable toward growing your business operations.
Having a very well-furnished, professional office will also help to “market” your business - especially when many of your clients and affiliates would tend to trust more those who have a proper office location with dedicated workers.
3. Maintain a Good Reputation: Among the most important ways of ensuring a successful mortgage business is to make sure you will have built up a great reputation that was founded on trust, credibility, honesty and reliable referrals that are part of a clean network in general. Having a good web-presence is a very crucial part of maintaining a higher reputation as it certainly reflects the amount of good will you had generated throughout your professional career. Always try to maintain a great-looking, informative website emphasizing your reputation clout, keep up with active social media posts along with ads and listings campaigns so others know you are reachable and approachable - but more importantly it is all part of reputation management that will help you establish a strong company presence with sources that can be trusted.
4. Learn from Top Experts: It’s been said in life that you can never stop learning; you are always a student of life. If you were to study among the top performers in the mortgage business, they ALL had great mentors who had shown them the ins and outs of attaining outstanding results easier with more efficacy and overall productivity. Top experts will be able to show you that nothing comes easy but it’s all worth it when you are using the right strategies and the best systems to generate more loans, more referrals and more recruits. In a way, you’d also feel humbled by the level of knowledge that you can acquire, which you would have to apply wisely onto various situations that demand your scrutinous attention. By gathering more experience, fresh knowledge and wisdom, it will then will make you more inclined to make best possible decisions in the industry where quality education and proper training can give you a major performance advantage over your peers. That level of humbleness will also leave you hungry for more ongoing education and useful knowledge so you can maybe one day be just like those top real estate & mortgage mentors who pass on their proven methods of success
If you are interested in joining the best mortgage company, feel free to contact MLO Financial Group about how to be actively successful in the mortgage and real estate business: www.mlofinancial.com/contact - (949) 612-0981
Make payments on time. Out of all things considered, this could be one the most important things to remember to avoid such common disputes as not paying the rent or not paying on time, which can result in certain penalty fees and even an eviction proceeding. On the contrary, if you feel like you’ve been over-charged based on deceptive practices or if you see extra sur-charges (not mentioned in the contract), you may have legal rights and leverage to demand fair treatment with adherence to the contract. Once you feel like there have been unethical rules and fees arising from an unfair rent/lease or mortgage contract, you have legal rights to speak to an attorney on how to protect yourself and to prevent or reverse unreasonable, unjustified fees.
Don’t cause property damage. Any type of property damage (whether it’s an apartment, house, office, warehouse or a store) is normally a premise to have a negative case that may cost you not just your security deposit but also a lot more in repairs. Of course, in this case, it’s always smart to have property or legal insurance that can cover such things. However, if someone else causes damage to your property, you would have certain legal rights that enable you to have restitution with proper claims to repair the damage without incurring costs. It also depends on what type of property insurance both parties have, in which case it can either help the case or complicate it. If you ever find yourself in a more involved property damage, whether it’s from your doing or someone else’s, consider consulting with a knowledgeable lawyer who’d be able to help your case to save you stress, time and money.
Read the small / detailed font. Lastly, you should always pay attention to the detailed or small font (how they call it) where sometimes landlords may hide certain legal terms that work in their own favor. It’s not uncommon to have a legal professional look at some of those convoluted terms to try to debunk them so you can clearly understand what you are signing up for. If you don’t understand certain legal terms or if the landlord-tenant contract is too complex, it’s always a good idea to consult with a legal professional who knows real estate law.
Real Estate Expert Luke Thomas (from Sol Mar REI) Discusses Real Estate Success – (New York Radio Interview)
Luke Thomas – a real estate business expert (from Sol Mar REI) describes the ins and outs of the real estate markets, how he got started and what it takes to be successful in the industry. Hosted as a special guest on a New York radio, he explains the lucrative side of the real estate industry.
He also shares his professional background that spans several decades of knowledge and diverse experience: http://www.solmarrei.com/real-estate-expert-luke-thomas-from-sol-mar-rei-discusses-real-estate-success-new-york-radio-interview/
Repairing the Essentials: Too many people try to fix something that ain’t broken. Look around and try to repair only what needs to be repaired. It’s not just for the sake of comfort in your home but also to maintain a higher resale value of your assets so you don’t have to take a dive when it comes time to selling your home. Fixing things in advance before anything major happens will certainly decrease the cost of repair in the long run. Basically, there is a difference between getting a bio-metric scanner for your front door as opposed to fixing that darn drippin’ faucet in the kitchen.
Saving More on Utilities: This one is self-explanatory, yet not everyone obeys these simple rules that will reduce your cost of living. For instance, simply turning off the lights or any electric appliances when you don’t need them or not wasting too much water would go a long way. Same goes for the air-conditioning resources. Make sure you make it a point to turn on the cooler & heater upon demand. If it happens to be such that the weather outside is fairly comfy, then you can always open up the windows (assuming the air outside is not too polluted). Also, running your dishwasher and laundry at certain less busy times of the day would tend to help minimize your electric bill. A smart homeowner will always look for ways to save…
Achieving Optimal Capacity: This tactic-resolution can actually create for more ideal living conditions being determined by how many residents are living there vs how many are actually paying any rent. When it comes to logic, usually, two opposite extremes are always wrong. In one extreme case, you may have a home that’s filled with kids and pets with no room to breathe as you’re struggling to make your next payments. And the other extreme could be settling into a home that’s WAY too big for you and your family thus making you experience the “sunk-cost” fallacy, meaning that you’d be pumping money & resources into a house capacity that will be devouring your mortgage that could’ve gone toward something more cost-worthy like a college fund or a vacation budget or even retirement or other non-volatile investments.
Refinancing the Mortgage: It’s no surprise so many homeowners aren’t taking advantage of refinancing methods, considering how convoluted and complex the mortgage terms can be. As a general rule, it always helps to be knowledgeable about what kind of a loan-arrangement you have. If your income changes or if you start a family or if the banks all of a sudden raise the interest rates, you should definitely consider refinancing your mortgage-loan or else you may risk defaulting on your credit-loan thereby compromising your credit score and your lifestyle. Under a fixed interest rate, it becomes more predictable and more manageable unlike the variable rates that can potentially mess up your financing. Another practice is to choose a banking/financial entity that’s more altruistic and supportive of their clients. Better yet, they’ll keep you informed about the latest tips & tricks along with policies & regulations that can work in your advantage.
Dec 29, 2014 - Yuri Sire – Content Manager / Blogger