Mortgage Financing Programs On NON-QM Loans


This BLOG On Mortgage Financing Programs On NON-QM Loans Was UPDATED And PUBLISHED On February 7th, 2020

Mortgage Financing Programs

2019 is a year where new Mortgage Financing Programs were launched by many lenders.

  • The 2008 sub-prime crash abruptly ended bank statement mortgage loans for self-employed borrowers and others create mortgage financing programs
  • Bank Statement Loans are now back and so are NON-QM Loans
  • 95% LTV Jumbo Loans With No Mortgage Insurance
  • Qualifying for a mortgage with late payments in the past 12 months

In this article, we will discuss and cover Mortgage Financing Programs On NON-QM Loans.

Types Of Mortgage Financing Programs On NON-QM Loans

There are many mortgage financing programs available today such as the following:

Non-QM Loans:

    • No waiting period after bankruptcy and/or foreclosure
    • Qualify for a mortgage with late payments in the past 12 months with Non-QM Loans
  • Bank Statement Mortgage Loans For Self Employed Borrowers
  • Condotel Financing
  • Non-Warrantable Condominium Loans
  • Bridge Financing for exiting properties with equity for homeowners who need the down payment on a new home purchase
  • No more contingency purchase offers needed due to our bridge loan program
  • Special Financing for doctors and members of  healthcare that is unsecured financing
  • Fix and Flip Loans for real estate investors
  • Short Term Hard Money Loans for real estate investors
  • Commercial Loans
  • Equipment Leasing for business owners

NON-QM Loans

NON-QM Loans are alternative mortgage financing programs for homebuyers who do not qualify for traditional mortgages. They benefit borrowers who have not quite met the mandatory waiting period requirements after bankruptcy and/or foreclosure. Or self-employed borrowers with substantial unreimbursed expenses on their tax returns.

Non-QM Loans mortgage qualification requirements are the following:

  • 20% down payment on home purchase or 80% Loan To Value on refinances
  • 10% down payment home purchase loan program available with 680 credit scores and higher
  • No waiting period after bankruptcy, foreclosure, deed in lieu of foreclosure, short sale
  • No pre-payment penalty
  • Great mortgage program to be used as a short term financing tool
  • Mortgage rates depend on down payment and credit scores
  • Debt to Income Ratio up to 50%
  • Minimum credit score requirements of 500 FICO

Bank Statement Mortgage Loan Programs

What are the mortgage programs, bank accounts

Bank Statement Mortgage Loan Programs is a great financing tool for self-employed borrowers. No tax returns are required.

  • Income is derived by 24 months bank statement deposits averages
  • Can use personal or business bank statements
  • 100% of deposits averaged on personal bank statements
  • 50% of deposits averaged on business bank statements

Special Jumbo Mortgage Financing Programs

There are special Jumbo Mortgage Financing Programs, especially for self-employed borrowers.
  • Non-QM Jumbo Loans down to 600 credit scores
  • Bank Statement Jumbo Loans for self-employed borrowers

Foreign National Mortgage Financing Programs

Foreign Nationals who currently are in the United States on a work visa and working for a U.S. Company can now qualify for Foreign National Mortgage Financing Programs with no credit scores. They need to be employed by a U.S Company or subsidiary of a U.S. Company.

Here is the Foreign National Loan Program:

  • 80% Loan to value up to 1.5 Million on primary single-family residences
  • 80%  Loan to value up to 1.5 Million Loan Amounts for Borrowers who have No US Credit or Limited Tradelines ( Expat Program designed for those living/working for a US Company )  
  • 80% Loan to value up to  $625,500 OR 75%  loan to value up to 1.5 Million on vacation homes, Second Homes, Non-Warrantable Condominiums, and Co-ops 
  • 75% Loan to value up to 2.0 Million on Condotel Financing
  • 65% LTV up to 2.5 Million for Canadian Borrowers looking to purchase a Vacation Homes  and Second Homes in the United States
  • 60% Loan to value up to 3.0 Million on Investment Properties / Foreign Nationals consider on a case by case basis.
  • Up to 1.0 Million Cash In Hand

85% & 90% Jumbo Mortgage Financing Programs

Which means 85% and 90% of large mortgage financing programs

For those high-end home buyers who are looking for Jumbo mortgage loan programs with minimal down payments, there is an 85% and 90% Loan To Value Jumbo mortgage loan programs with no mortgage insurance.

  • The maximum loan amount for the  95% Jumbo mortgage loan programs are a maximum loan amount of $3,000,000
  • Credit Scores required is 720 for 95% LTV Jumbo Loans
  • One week underwriting and closing in 30 days or less

Condotel Financing And Non-Warrantable Condominiums

Gustan Cho Associates is one of a few Condo Hotel Mortgage Consultants that specialize in Condotel Financing in this country.

  • The Team at Gustan Cho Associates are experts in Condotel mortgage loan programs
  • Condotel purchase financing, Condotel refinance, and Condotel cashout refinance mortgage loan programs
  • For primary and second home Condotel mortgage loans, the maximum Loan to value is 75%
  • Non-Warrantable Condos require 20% down payment
  • For Condotel cashout refinance mortgage loans, the Loan to value is 75% for primary and second home Condotel units. 
  • For Condotel purchase mortgage loans, Condotel refinance loans, and Condotel cashout refinance mortgage loans for investment Condotels, the maximum Loan to value allowed is 60%
  • Condo unit needs to be at least 500 square feet
  • Condo units need to have at least one bedroom

Condotel financing is rapidly growing popularity throughout the United States and not too many lenders offer condotel mortgage financing.

Gustan Cho Associates has no lender overlays on government and conventional mortgage loan programs. Gustan Cho Associates is a national mortgage company headquartered in Lombard, Illinois and licensed in multiple states.

For more information on alternative mortgage loan programs, contact Gustan Cho Associates at 1-262-716-8151 or text us for faster response. Or email us at We are available 7 days a week, evenings, weekends, and holidays.

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