NON QUALIFIED MORTGAGE LOANS (NON-QM)

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Full Doc Non-QM loans are a perfect solution for small business owners, investors, or other self-employed individuals, who believe they would not qualify for a traditional agency loan. These loans are also ideal for borrowers who are recovering from a recent credit event.

• FICO 580
• 90% CLTV
• Loan amounts up to $4 million
• Max cash-on-hand $1 million, no limit for LTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 ARM, 7/6 ARM
• Traditional income​
• 2-year credit event allowed​
• Super Prime & Prime Programs​
• Condo up to 90% CLTV​
• Condotels up to 70% CLTV
• NY up to 90% CLTV
• Cryptocurrencies accepted for reserves, down payments, and closing costs

Borrowers should not be denied the opportunity of homeownership because they don’t meet the stringent requirements that traditional lenders require. The 12/24 Month Bank Statement loans are perfect Non-QM options for self-employed and high-net-worth individuals who are unable to document their income with tax returns. To qualify for this loan, we allow the use of 12 and 24 months of Business and Personal bank statements.

• FICO 580
• Up to 90% CLTV
• Loan amounts up to $4 million
• Max cash-on-hand $1 million, no limit for CLTV < 55%​
• 3 months reserves​
• 12 months from bankruptcy or foreclosure​
• Mortgage history 0 x 60 x 12​
• Combination of business and personal bank statements allowed​
• Condo and condotels allowed
• Cryptocurrencies accepted for reserves, down payments, and closing costs

Not all borrowers fit neatly into the boxes required by traditional lenders. Some borrowers are investors, self-employed, entrepreneurs, retired or simply living off their investments. They are financially responsible people, but they might not have sources of income that are easily quantifiable. The Mortgage’s Asset Utilization loans allow these kinds of borrowers to use their personal and business assets as a means to qualify for a home mortgage.

• FICO 580
• Up to 80% CLTV
• Cash-out up to 75% CLTV
• Cryptocurrency at 90%
• Savings and checking 100%
• Securities at 100%
• Retirement at 70%
• Cash-out available
• Income calculation – all eligible assets divided by 60
• Super Prime & Prime programs
• Cryptocurrencies accepted for reserves, down payments, and closing costs

A typical Non-QM Debt Service Coverage Ratio (DSCR) loan allows a borrower to qualify for a mortgage based on cash flow generated from an investment property – through a rental, for example – as opposed to their personal income. A calculation generates a debt-to-income ratio and the higher the ratio, the better.

• FICO 599
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-hand $1 million, no limit for CLTV <55%
• 40- & 30-year fixed, 5/6 ARM, and 7/6 ARM terms
• No income or employment verification
• DSCR as low as 0
• Cash-out proceeds may be used for reserves
• Eligible for Non-Permanent Residents and Foreign Nationals
• DSCR is available under Foreign National Program
• Ownership of any property within the past 24 months
• Condotels allowed
• Cryptocurrencies accepted for reserves, down payments, and closing costs

We specialize in home mortgage financing for non-U.S. citizens who are authorized to live and work in the U.S. on a temporary basis. The process for a Non-QM loan is similar to typical mortgage loan applications, but some additional documentation is required for non-permanent residents who are seeking a home loan. As a result, it is best to work with a lender who is experienced in this area, and we can guide you in this field.

• FICO 660
• Up to 90% CLTV
• Bank statements allowed
• Cryptocurrencies accepted for reserves, down payments, and closing costs

Self-employed individuals have a more difficult time qualifying for a traditional mortgage. At Velasco Realty & Loans, we offer our Non-QM 1-year and 2-year P&L Only loans to help them. Borrowers can qualify for a loan based on the strength of their business’s Profit & Loss (P&L) statement only. No bank statements are required..

• FICO 580
• Up to 85% CLTV on 2Y and up to 80% CLTV on 1Y
• Max DTI 55%
• Loan amounts up to $4 million
• Max cash-on-hand $1 million, no limit CLTV < 55%
• P&L by Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer
• No bank statement required
• Super Prime & Prime program
• Cryptocurrencies accepted for reserves, down payments, and closing costs

A Written Verification of Employment (WVOE) is a form to be completed by a borrower’s current employer to verify specific details about their employment, such as dates of hire, compensation structure (salary, bonus, commissions), and year-to-date earnings. this WVOE form can be used to confirm a borrower’s income. The same is true for our 1099 Income Program. Instead of tax returns, we use the actual wages from your 1099 form as qualifying income for your new home loan. Together, the 1099 and WVOE options are ways to qualify for a Non-QM mortgage.

• FICO 580
• Up to 80% LTV for WVOE
• Up to 90% LTV for 1099
• Loan amounts up to $4 million
• DTI 55% Max
• Cash-out available
• Completed FNMA Form 1005 for 2-year history with the same employer
• Cryptocurrencies accepted for reserves, down payments, and closing costs

Not every creditworthy borrower can sail through the approval process for a qualified mortgage and your clients may want to invest in real estate and need short-term financing quickly. Bridge Loans are the perfect option: no income documentation, income verification, or asset seasoning are required, which means faster turn times. We offer Bridge loans for investment properties only. Bridge loans are available for 1-4 unit properties, condo-hotels, offices, multi-family, and properties under development.

• FICO 580
• 70% CLTV
• Interest Only
• No Income on 1003
• Foreign National allowed
• Refer to guidelines and matrix for a prepayment penalty
• Fast closing
• No asset seasoning
• Eligible for Non-Permanent Residents
• Cryptocurrencies accepted for reserves, down payments, and closing costs

Our ITIN program is a mortgage solution for individuals who have an Individual Taxpayer Identification Number but do not have a Social Security Number. With this program, you can grow your business by making homeownership a reality for non-U.S. citizens.

• Min FICO 660 and up to 80% CLTV for Super Prime
• Min FICO 700 and up to 70% CLTV for DSCR
• Loan amounts up to $1.5 million
• A valid ITIN card or IRS ITIN letter and an unexpired government photo ID required
• As little as 3 months of reserves

Why Choose Our ITIN Program?

• Primary residence & investment allowed
• DSCR allowed
• Alt docs allowed