A Portfolio Mortgage lender can be completely different from any other lender. All loan approvals are underwritten in-house seldomly require investor signature. A portfolio lender will identify a market niche and in-turn develop a portfolio of Qualified or Non-Qualified loan products specific and unique to the under-served market demographic with either a Qualified Mortgage (QM) loan program or a Non-Qualified Mortgage (Non-QM) loan program.
Portfolio lenders often have more lenient underwriting standards compared to traditional lenders, allowing for customized loan options.
Borrowers often receive more tailored, hands-on support throughout the loan process. Our unconventional mortgage broker service specializes in providing personalized support for borrowers seeking Non-QM mortgage solutions. As an experienced Non-QM mortgage lender, we cater to clients with unique financial situations, offering flexible options beyond traditional loan requirements.
With our service, borrowers receive dedicated, hands-on guidance through every step of the loan process. Our personalized approach ensures tailored solutions, meeting the needs of self-employed individuals, investors, and others who require a custom lending experience.
They may cater to borrowers with unique financial situations, such as self-employed individuals or those with less-than-perfect credit.
This flexibility can be appealing for real estate investors or those who don’t fit the standard lending mold.
Manual underwriting allows the lender to look at each borrower as an individual, into a reasonable mortgage. Because these lenders will service the loan often for the life of the loan, they make their own rules and in the world of mortgage lending, that means their own underwriter guidelines. Fast closings in 7-10 days. 11 days for conventional, and Non-QM 15-25 days, or less, if the circumstance requires; and pre-approvals done within 48 hours of complete submission.
Underwriting Guideline exceptions and requirements are based on credit scores, Debt to Income ratio, equity position/loan to value ratio, occupancy, property type, and various variables and loan characteristics such as “credit event” seasoning.
* Benefit to Borrow (tangible benefits):
Documentation type, Credit Depth and Seasoning, Borrower employment and business seasoning, Liquid asset sources, purchase seasoning.
* Property Acquisition for Self-Employed and Agency Fall-out
* Interest Rate Deduction
* Credit Card Debt Consolidation
* Disposable Income Increase
* Fixed Rate or Term Extension Rate and Term Refinance
* Cash Out Refinance for Business Expansion
* 1099 Only (one year and two history verification)
* Asset Depletion loans (all qualifying as a stand-alone income or to supplement)
* One to Six Month Bank Statement Programs (1 month through 6 months)
* P&L Only
* Borrower Prepared P&L
* CPA or equivalent
* Accountant/Tax Professional
1 Year Tax Return – 1 Year
Jumbo and Super Jumbo Loan Amounts:
$300,000 to $30,000,00
Cash Out Limit (cash-in-hand) – $20,000,000
Mortgage Pre-Qualification Form – No Credit Check
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Prime and Non-Prime Bank Statement Options | Self-Employed Borrowers Portfolio Direct Lender is a direct lender with their own portfolio of loan products and programs,