So much has changed over the past three years – and in mortgages, especially over the past several months. We have been enjoying historically-low interest rates for many years, and most of us have forgotten that 2% is not the norm. Although mortgage rates are on the rise, now is still a good time to consider homeownership. If you are one of the many, however, who does not qualify for a traditional mortgage, you do have options. Not all non-QM lenders are the same, so the company you choose does matter. These are things to look for that mark the top non-QM lenders in Charleston, SC.
Creative and Innovative
Traditional mortgage lenders don’t have much leeway when it comes to qualifying and approving mortgage borrowers. Due to historical mishaps, the government has set very strict guidelines about who is credit-worthy and who is considered not to be. If you are one of the many who don’t fit into those rigid confines, then you need a mortgage lender who can find creative solutions to get you approved. At Home Spring Mortgage, we see opportunities where others see roadblocks. In our practice, it ain’t over until it’s over!
Various Products
Not all non-QM lenders offer the same packages or products. Just like not everyone will fit into traditional mortgage loan approval criteria, they also will not all be eligible for various types of non-QM loan options. At Home Spring Mortgage, we offer numerous types of loans to fit your circumstances so that we can find the money you need to go from renter to homeowner!
Reputation
When it comes to non-traditional loans, unfortunately, not all non-QM lenders are as credible as others. When people find themselves in a predicament where they have to choose outside the norm, their choices are often limited. At Home Spring Mortgage, we don’t believe in taking advantage of a situation for gain. Our mission is to work closely with our customers so that we both have mutually beneficial transactions. We care greatly about our customers, and it shows in our reviews and ratings!
Responsiveness
Often, mortgage companies are nondescript. Ask most homeowners who their mortgage holder is, and it’s likely they won’t have a clue until something goes wrong. And when something does go wrong, imagine how inconvenient it is to get someone on the phone. Mortgage companies are notorious for lending mortgages and then selling them quickly, meaning that you rarely know who is standing behind the loan you took out.
At Home Spring Mortgage, you have the advantage of not only knowing who services your loan; you know us by name, and we know yours, too. If you have any problems, just pick up the phone and you can talk to a real human being! Try that with a big-box mortgage lender!
As we move into 2023, interest rates – which were on the rise – appear to be holding steady. They might not be at 2% anymore, but they are still far from the 7% that homeowners faced just ten years ago. If you are considering owning a home, now is still a good time to pull the trigger. However, if you don’t fit into the traditional lending qualifiers, don’t lose hope. We have options. Contact us today and find out how top non-QM mortgage lenders get the job done and quickly!