Non-QM - Subprime Mortgages
and more liberal qualification standards
Subprime mortgage loans are back and Retiro Financial offers the full range of available subprime loan programs.
Borrowers seeking financing on transactions that satisfy Fannie Mae, Freddie Mac, FHA or VA underwriting requirements receive the best possible financing terms. These types of loans have minimum credit score requirements and require verification of income using pay stubs, W2s and tax returns.
Because these loans have lower interest rates and closing costs they are sometimes referred to as “prime” mortgage loans.
Loan programs that enable borrowers who cannot meet these agency underwriting requirements are often referred to as a subprime mortgage loans but are now referred to as “non-QM” loans.
Typical examples of subprime or non-QM mortgage loans:
• No tax returns or W-2s required for self-employed borrowers (income based on average bank account deposits)
• Qualification based on property cash-flow for investment loans
• No waiting period after a bankruptcy or foreclosure
Retiro Financial offers financing on these types of transactions at a higher rate and with higher costs than what a borrower could receive on a conforming "prime" loan.
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