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NON-QUALIFIED MORTGAGE

Alternative Mortgage Loans for Self-employed borrowers, Borrowers with considerable assets, Real estate investors, Borrowers with credit issues, Foreign buyers.

Non Qualified Mortgage Programs

A Non QM loan, or a non qualified mortgage, is a type of mortgage loan that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans.
More specifically, a Non QM loan is one that is not required to meet the federal government and Consumer Financial Protection Bureau’s guidelines for qualified mortgages. Non QM loans open real estate investment opportunities to a broader group of individuals.

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ITIN

ITIN Issuance Letter
Min 660 Credit Score
Credit Run under ITIN / Min 2 Scores
3 Tradelines, Minimum 1 Traditional
1yr Taxes and WVOE for Wage Earners
12 Months Bank Statements for S. E.
12 Months Housing History
2 Forms of I.D. (Consular Card, Passport, State Issued ID)

Non Qualified Mortgage (Non QM) ITIN Program, is for borrowers living in the US who have never been issued a US Social Security number. May be use for Purchase or Refinance.

What Is the Debt-Service Coverage Ratio (DSCR)?
The debt-service coverage ratio (DSCR) measures a firm's available cash flow to pay current debt obligations. The DSCR shows investors and lenders whether a company has enough income to pay its debts. The ratio is calculated by dividing net operating income by debt service, including principal and interest.

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DSCR

Minimum Fico 660
Non Trid - Close Fast
Purchase Money 80% LTV
Loan Amounts to $3 Mil.
Interest Only
Gift Funds Allowed
30 and 40 years Interest Only
1x30x12 Allowed
$1 Million Cash in Hand Allowed -65% LTV (+= 65% LTV $500k Max)

The debt-service coverage ratio (DSCR) is a measure of the cash flow available to pay current debt obligations. DSCR measures a business cash flow versus its debt obligations. Lenders use DSCR to determine whether a business has enough net operating income to pay back loans. DSCR equals net operating income divided by debt service, including principal and interest.

Bank Statement Program, a loan for self-employed borrowers; may be used for Purchase or Refinance.

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Bank Statements

Minimum Fico 660
First Time Homebuyer OK
12 Months Bank Statements
Min 25% of Business Ownership
30 year Fixed
30 and 40 year Interest Only
Purchase Money to 90% LTV
1x30x12 Allowed
Cash Out to 80% LTV

1099's program, a loan for self-employed borrowers; may be used for Purchase or Refinance.

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Forms 1099s

Minimum Fico 660
Interest Only Available
No Tax Returns Required
LTV to 85%
Loan amounts to $3 Mil
One or Two years 1099
30 Years Fixed or Interest Only
40 Years Fixed or Interest Only

For more information

Home Loans... is what WE DO!

E-MEZA Financial Services
421 North Brookhurst Street Suite 202
Anaheim, CA 92801
Telephone 714-603-7983
info@emezafinancialservices.com

California Department of Real Estate 01229570

Nationwide Multistate Licensing System 1882198