Nontraditional Lending

Annette Bui| Updated January 28, 2019 | Mortgage Programs 101

Did you know the advantages of local brokers and direct lenders? Most families looking for a home loan traditionally go to their local bank, primary lending institution, or big named lenders they are most familiar with. Oftentimes the comfort of these big named brands, the overhead costs of brick and mortar businesses mean they are limited qualifying options. Many savvy borrowers are now taking advantage of benefits that brokers can offer. Outside the box solutions from loan options with no tax returns, shorter bankruptcy seasoning or cash reserves to show cash flow for qualifying purposes.

Programs may include:

No tax returns.

Owner occupied, vacation or investment homes.

2 year waiting period for bankruptcies, foreclosure, short sale.

Loans up to $2.5 million

12 months business or personal bank statements.

90% loan to value no mortgage insurance.

Interest only, 40- year programs offered.

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