Documentation-Full Doc (2-Yrs W-2/1099 or 2-Yrs Tax Returns) & Bank Statements, AssetĮligible Property Types Include: One Unit Single Family Residences (Attached and Detached), PUDs (Attached and Detached), Condos (Low and High Rise), Site Condo, Townhouse, 2-4 Unit Properties, Modular Homes, Hobby Farms, and Mixed-Use Properties.Credit grades for 24 Months from housing event to no seasoning required from housing event.Consumer credit challenges with consistent housing history.
#Non qm loans plus#
#Non qm loans full#
Carrington Prime Advantage Program Matrix.1099, P&L, 12 or 24-month bank statements (personal or business), asset depletion, W2 or full-docĮligible Property Types Include SFR, PUD, Townhome, Condominium, 2 Unit, Modular and Mixed-Use Properties. Home loans exceeding 30-year terms Home loans with negative amortization Home loans with interest-only payments.Self-employed and alternative documentation borrowers including Non-Qualified Mortgage (Non-QM) loans are typically for borrowers with unique circumstances and for those who dont fit the normal.Loans that don’t fit government and conventional guidelines.Broker Marketing Flyers (brokerIQ login required)ĬARRINGTON PRIME ADVANTAGE SM 660 Min FICO - For borrowers who just miss qualifying for Agency or Jumbo financing.As described below, a loan that meets the product. Bank Statement Calculation Service Form All Qualified Mortgages (QM) are presumed to comply with this requirement.Speak with one of our trusted loan specialists about our specialty products, and we will help guide you through the loan process. If you have a high debt-to-income ratio that does not qualify for a standard loan, if you want special loan features such as interest-only payments, or if you are looking to borrow above the conforming limit of $647,201 with limited down-payment funds, Diamond Residential Mortgage Corporation is here to help. At the same time, however, the MBA’s outlook for next. Purchase mortgage originations in total are expected to grow 9 to a new record of 1.73 trillion in 2022, according to the Mortgage Bankers Association non-QM will be part of that, of course. Qualify on property cash flow rather than personal income There are a few market factors contributing to this expected growth for the non-QM sector.Contact one of our knowledgeable loan specialists who can help guide you through our suite of investment solutions.
That’s why real estate investors love working with us. We have loan programs that can make it easier to buy and sell investment properties so that you can focus on building your portfolios. If you’ve been turned away by others for reasons such as lack of credit, low credit score, or history of late payments, speak with our experienced loan specialists and see if our alternative loan programs are right for you.ĭiamond believes in the power of real estate as part of a diverse investment strategy. We can help when a not-so-perfect credit history prevents you from getting a mortgage. Speak with one of our experienced loan specialists and see how we can help you achieve homeownership today. We can offer financing much sooner than you think. We can work with borrowers who oftentimes have multiple streams of income, paid in lump sums, or are self-employed and absorb business expenses onto their personal tax returns.ĭid you know that experiencing a short sale or foreclosure on your property could prevent you from purchasing a new home for up to 7 years? Diamond understands that being a homeowner today rather than years from now is important to you, your family, and your future. Diamond Mortgage is your trusted lender when it comes to alternative methods for income qualification.
Learn more about why we are considered a top leader in the Non-QM industry:ĭon’t let non-traditional income prevent you from owning a home. Non-QM mortgages are a type of mortgage that allows borrowers to get a loan without having to provide extensive documentation or meeting traditional income. We offer flexible financing when traditional qualification methods simply will not work. Diamond Mortgage is committed to meeting the needs of all borrowers - not just those who fit into the conventional standards of a qualified mortgage.
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