Qualified Borrowers through Non-QM Products

Nations Lending knows that not every borrower fits neatly within the shifting set of parameters that is "QM." Whether the borrower in front of you is self-employed, a foreign national or even if they're looking for a non-warrantable condo, Nations has a suite of products that fit around each person's unique financial situation.

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Asset Qualifier / 
· No tax returns required
· No other income required
· Minimum 680 FICO
· 50% DTI
· Max LTV 90% for Purchase option available

Bank Statement / 
· Self-Employed Borrowers can utilize personal or business bank statements
· Low FICO score options available (min 580)
· Max LTV 90% option available
· DTI up to 50% (or 55% with specific guidelines)

Foreign National / 
· Primarily used for second homes and investment property for non-US Citizens
· Max DTI of 50%
· Minimum Tradelines requirement can be met with Qualifying Foreign Credit or in combination with U.S. credit.
· Streamlined income verification process
· No specialty translator, can use google translate

Fresh Start / 
· LTV up to 85% for purchase
· DTI up to 50%
· Low FICO options (down to 500 for some products)
· Short seasoning of derogatory credit (0-12 months)

High LTV / 
· Minimum FICO of 620
· LTV up to 95% for purchase 85% for cash-out
· Loan Amounts up to $1.5 million
· No MI options

Interest Only / 
· Bank Statement Options available
· High LTV Options
· Some products allow for up to 20 properties
· LTVs up to 50%

Investor / 
· Some products allow up to 20 properties
· DTI is not calculated for some products
· LTV up to 80% for purchase and 75% for cash out
· Title can vest in name of an LLC
· Shorter seasoning of BK/FC/DIL/SS (0-24 month options available)

Low FICO / 
· Scores down too 500 FICO options available
· LTV up to 80%
· Up to 50% DTI

Non-Warrantable Condos
· Max LTV 90% for Purchase (80% for condotel)
· Standard DTI 43% and up to 50%
· Low FICO options available
· Loan amounts up to 3 million available

Thanks!

Let's talk! 800-459-7512