Contact Us
Apply Now

TYPE OF LOANS

Qualified Mortgage (QM)

A QM loan refers to a “Qualified Mortgage,” which is a type of mortgage that meets certain criteria set by the Consumer Financial Protection Bureau (CFPB) in the United States. These criteria were established as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in response to the 2008 financial crisis. The purpose of QM loans is to ensure that borrowers are offered mortgages that are safer and more sustainable, with features designed to reduce the risk of default.

Non Qualified Mortgage (Non-QM)

Non-QM loans, also known as Non-Qualified Mortgages, are mortgage loans that do not meet the criteria for a Qualified Mortgage (QM) as defined by the Consumer Financial Protection Bureau (CFPB). Unlike QM loans, which must meet specific requirements related to the borrower’s ability to repay, Non-QM loans offer greater flexibility in underwriting standards and loan features but typically have higher interest rates and closing cost than QM Loans.

Toggle between QM & Non-QM to learn more

  • Qualified Mortgage (QM)

    Learn More
    Conventional Conforming This term refers to any mortgage loan that is not insured or guaranteed by a government agency such as the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), or the U.S. Department of Agriculture (USDA) but meets the eligibility criteria set by Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) that buy and securitize mortgages in the secondary mortgage market. Advantages: – More flexibility regarding the type of occupancy (primary residence, second home, investment) – More flexibility regarding the type of property (Condominium, Single family, etc.) – The Private Mortgage Insurance (PMI) is not needed if borrower makes a down payment of 20% or more and if it is less the PMI is canceled once the loan-to value ratio reaches 80%

    Learn More

    FHA (Federal Housing Administration) loans are government-backed mortgages designed to help individuals with lower credit scores or smaller down payments qualify for homeownership. – More flexibility regarding credit requirements – Competitive Interest rates particularly for borrowers with lower credit scores – Lower down payment without income limits

    Learn More

    VA (Veterans Affairs) loans are home loans guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, and some surviving spouses. Advantages – No Down Payment – No Private Mortgage Insurance – Streamlined Refinancing Options that allows to refinance an existing VA loan with minimal paperwork.

    Learn More

    USDA (United States Department of Agriculture) loans, also known as Rural Development loans, are designed to help low-to-moderate income borrowers purchase homes in eligible rural and suburban areas. Advantages – No Down Payment – Closing Cost Flexibility. Allows borrowers to finance the closing costs into the loan amount, reducing the amount of cash needed upfront at the time of purchase. – No Private Mortgage Insurance

    Learn More

    Learn More

  • Non - Qualified Mortgage (Non-QM)

    Learn More
    Home Equity Line of Credit

    Learn More

    It is used when the loan amount exceeds the conforming limits set by Fannie Mae and Freddy Mac

    Learn More

    It allows self-employed borrowers to qualify based on their bank statements rather than traditional income documentation such as tax returns. Lenders analyze the deposits in the borrower’s bank accounts to determine their income.

    Learn More

    Debt Service Coverage Ratio is a financial metric that measures the property’s ability to generate sufficient income to cover its debt obligations. It is calculated by dividing the rent of the property by its annual debt service (principal and interest payments). Lenders typically require a minimum DSCR ratio to qualify for a DSCR loan, with higher ratios indicating stronger cash flow and lower risk.

    Learn More

    Borrowers do not need to prove any kind of income.

    Learn More

    Designed for borrower whose primary residence is out of United States.

    Learn More

    It is a mortgage loan designed for individuals who do not have a Social Security Number (SSN) but have an Individual Taxpayer Identification Number (ITIN). These loans are typically offered to non-U.S. citizens, including undocumented immigrants, resident aliens, and foreign nationals, who may not be eligible for traditional mortgage financing due to their immigration status.

    Learn More

    Give us a call to learn more about this topic.

    Learn More

    For the purchase of commercial properties as multi families with more than 4 units, offices, warehouses and other real estate that are not considered residential property.

    Learn More

    Give us a call to learn more about this topic.

    Learn More

    Short-term loans used by real estate investors to purchase and renovate properties for resale. These loans may have higher interest rates and shorter repayment terms compared to traditional mortgages.

    Learn More

    Short-term financing to bridge the gap between the purchase of a new property and the sale of an existing property. These loans are often used by homeowners who need funds to purchase a new home before selling their current home.

    Learn More

    Give us a call to learn more about this topic.

    Learn More

    Give us a call to learn more about this topic.

    Learn More

    Learn More

CONTACT US
WE 'RE HERE TO HELP!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.