Purchasing a new home is an exciting experience, but finding the right mortgage can be stressful. Avoid having to go through complicated qualification metrics by pursuing a non-QM loan with us at MortgageDepot a mortgage broker that provides instant home buyer power.
We offer non-QM loans up to 1.5 million dollars with interest-only options available. An interest-only option allows buyers to only pay interest for a designated time, freeing up buyers to have greater freedom in their budgets before having to make mortgage payments. This can be a great option for buyers who need flexibility in their mortgage plans.We welcome first-time home buyers as well as buyers of non-warrantable condos. We at MortgageDepot help home buyers to expand their options by offering non-QM loans which provide buyers with more home than they could afford a qualified mortgage. Qualified mortgages often limit home buyer options by placing rigid restrictions on buyer qualifications. Non-QM mortgages empower home buyers to choose the home they really want, not the home a QM broker thinks they should want.
Non QM mortgages are also a great choice for buyers with debt. We accept an expanded debt-to-income (DTI) ratio of 55% for its non-QM products. Qualified mortgages have greater restrictions on DTI ratios, further limiting options for buyers. The non QM products also allow for greater expanded projected income timelines. Buyers have greater options and more flexibility with non QM products.