Our Non-Traditional also known as Non-QM program is designed to provide alternative lending solutions for those who do not meet the standard qualification requirements for a traditional mortgage loan. Unlike a conventional loan, non-QM loans are not required to comply with the Qualified Mortgage (QM) guidelines set forth by the Consumer Financial Protection Bureau (CFPB). This means that borrowers who have unique and special circumstances can still have access to mortgage financing.
At LISA HOME MORTGAGE™, our Non-QM loan options include programs for foreign nationals, non-warrantable condos, and manufactured homes. Foreign nationals who may not have a U.S. credit history or tax returns can still obtain a mortgage with our Foreign National program. Non-warrantable condos, which do not meet Fannie Mae or Freddie Mac guidelines, can also be financed through our Non-QM program. Additionally, our program offers financing options for manufactured homes, which are often not eligible for conventional financing.
Our Non-QM program can offer flexible qualifying criteria, including bank statement and asset depletion programs, to better suit the needs of our clients. This program can also provide higher loan-to-value (LTV) ratios and debt-to-income (DTI) ratios than traditional loans, making it an attractive option for those who may not qualify for conventional financing.
At LISA HOME MORTGAGE™, we understand that every borrower’s situation is unique, and we strive to provide customized lending solutions to fit their needs. Our Non-QM program can offer the flexibility and options necessary to achieve your homeownership goals. Contact us today to learn more about our Non-QM program and how we can help you find the right mortgage solution.