3/17/2023 0 Comments Non qm lendingEach type has different features and is designed for a specific situation. There are several types of non-QM loans available. This is because they are considered to be a higher risk for lenders. Non-QM loans typically have higher fees and APRs than QM loans. This allows you to qualify for a larger loan amount. Higher Debt-to-Income Ratio: Non-QM loans often have a higher debt-to-income ratio limit than QM loans.For example, you may be able to qualify with alternative income documentation such as bank statements or asset depletion. Flexible Documentation: Non-QM loans offer more flexible documentation requirements than QM loans.You will need to pay back the principal at the end of your term. ![]() This lowers your monthly payments but increases the amount of interest you'll pay over the life of the loan.
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