NON - QM Home Loan Options
Your pathway to home ownership!
Unlock Your Homeownership Dreams with Pure Funding Mortgage: Your Partner for Non-QM Loans
Are you a self-employed individual, a real estate investor, or someone with unique financial circumstances that make qualifying for a traditional mortgage challenging? Pure Funding Mortgage understands that the standard "one-size-fits-all" approach to lending doesn't work for everyone. That's why we specialize in Non-Qualified Mortgage (Non-QM) loans, offering flexible solutions to help you achieve your homeownership goals in Weatherford, Texas, and beyond.
What are Non-QM Loans?
Non-QM loans are designed for borrowers who don't meet the strict eligibility requirements of Qualified Mortgages (QM) set by the Consumer Financial Protection Bureau (CFPB). These guidelines often focus on factors like debt-to-income ratios and traditional income verification through W-2s and pay stubs. Non-QM loans, however, offer alternative qualification methods, opening doors for individuals with non-traditional income streams, past credit events, or unique asset profiles.
Why Choose Pure Funding Mortgage for Your Non-QM Loan?
As a locally owned and operated mortgage broker in Weatherford, Texas, Pure Funding Mortgage is committed to providing a seamless and personalized lending experience. We take the time to understand your individual circumstances and offer tailored Non-QM loan solutions that fit your needs. Our passion, streamlined process, and diverse product offerings ensure you receive the best possible service and find the right loan to get you to the closing table.
Explore the Variety of Non-QM Loan Types Available Through Pure Funding Mortgage:
We offer a comprehensive suite of Non-QM loan programs designed to cater to a wide range of borrowers:
Bank Statement Loans: Ideal for self-employed individuals and entrepreneurs, these loans allow you to qualify using your personal or business bank statements instead of traditional income documentation. This is particularly beneficial for those with significant tax write-offs that may reduce their reported income.
DSCR (Debt Service Coverage Ratio) Loans: Tailored for real estate investors, DSCR loans use the cash flow generated by the investment property to determine eligibility. This allows investors to qualify based on the property's potential income rather than their personal income.
Asset-Based Loans: Perfect for high-net-worth individuals with substantial liquid assets but potentially non-traditional or irregular income streams. Qualification is based on your assets, such as savings, investments, and retirement accounts.
1099 Loans: Specifically designed for individuals who primarily earn income through 1099 forms as independent contractors. These loans offer flexible income verification methods beyond traditional W-2 employment.
ITIN Loans: Providing a pathway to homeownership for foreign nationals who may not have a Social Security number but possess an Individual Taxpayer Identification Number (ITIN).
Foreign National Loans: Designed for non-U.S. citizens looking to purchase property in the United States, whether as a primary residence, vacation home, or investment property.
Recent Credit Event Loans: For borrowers who have experienced past credit challenges such as bankruptcy or foreclosure, these loans may offer more lenient waiting periods compared to traditional mortgages.
Interest-Only Home Loans: Offering lower initial monthly payments by only requiring the payment of interest for a specific period. This can improve cash flow and affordability in the short term.
Jumbo Loans with Flexible Down Payments: For financing higher-value properties that exceed conventional loan limits, with options for lower down payments in some cases.
Benefits of Choosing a Non-QM Loan with Pure Funding Mortgage:
Greater Underwriting Flexibility: Non-QM loans look beyond traditional income verification, considering alternative methods like bank statements and asset depletion.
Catered to Unique Financial Situations: Ideal for self-employed individuals, investors, retirees, and those with non-traditional income or credit histories.
Expanded Access to Homeownership: Opens the door to owning a home for individuals who might not qualify for conventional mortgages.
Options for Investment Properties and Second Homes: Many Non-QM programs allow financing for properties beyond primary residences.