Non QM Loans
- B/C Loans:
Once called Sub-Prime or B/C Loans, these loans do not meet the credit requirements of Fannie Mae and Freddie Mac. They are not "Qualified" mortgages. Loan applicants typically have a bad credit history, have filed for bankruptcy, or have had a property in foreclosure. They may also not be able to verify income in a standard manner and need to use bank statements or other documentation and even no documentation loan types.
Non QM Loans are often issued as temporary loans until the applicant can restore credit and qualify for conforming "A" loans. Interest rates on B/C Loans are generally higher (up to 12%) than for conforming "A" loans. Down Payments as low as 25%.
â€‹We have loans for families 1 day out of bankruptcy / Foreclosure/Short Sale. We have other programs for folks close to but not yet past there seasoning requirement.
Although I specialize in Flagler County, I am happy to assist the entire state of Florida! Contact me at 386-866-1112 for your quote!