Key Characteristics of Non-QM Mortgages:
Flexible Criteria: Income Verification: Non-QM loans often allow alternative methods for verifying income, such as bank statements, asset depletion, or profit and loss statements, rather than traditional tax returns and W-2 forms. Credit Scores: They might be available to borrowers with lower credit scores or those with a limited credit history. Debt-to-Income Ratio (DTI): Non-QM […]
Your Guide to Recent Credit Event Loans
Life doesn’t always go as planned. Unexpected things like job losses, medical bills, and other challenging situations can completely disrupt your credit. If you’re experiencing the aftermath of a foreclosure, bankruptcy, or short sale, you might feel homeownership is out of reach for good. Luckily, it doesn’t have to be. At Homespring Mortgage, we believe […]