Expanded qualifications on non-QM jumbo loans up to $2 million.
- 30-year fixed-rate fully amortized loan options up to $2MM
- Accepts alternative income types, including assets* and projected income without a guaranteed non-revocable contract
- Accepts gaps of employment outside the Flex QM guidelines
- Higher Priced Mortgage Loans (HPML) are allowed with exceptions**
Do you qualify?
- Minimum FICO score requirements may vary
- Requires as little as six months of reserves
- Must be 1-4 unit owner-occupied, second home or investment property
- Must have a DTI of at least 43%
*Business assets not allowed, personal assets must be liquid, and fully-vested. Maximum 50% debt-to-income (DTI) required if no other Non-QM attributes are used. If other Non-QM attributes are used, maximum 43% debt-to-income required. Additional restrictions may apply. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Contact Guaranteed Rate for current rates and visit www.rate.com/restrictions for more information.
**Loan must have an escrow account for a minimum of five (5) years. Additional appraisal requirements may apply. See your loan officer for more information.