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Don’t Turn Borrowers Away Due To Agency Fall-Out

Originators not familiar with Angel Oak are often surprised by our non-QM loan options. Non-QM is in demand and we always suggest our clients bring their loan scenarios to us first! We might have an easy solution that could result in a quick closing. 
Here are a few scenarios – if these come up with your borrowers let us know!

Property investors using a 1031 Exchange

People who are trying to sell an investment property can be hit with a tax bill from the sale of the property. A 1031 exchange can defer those taxes by exchanging one property for another by relinquishing it and exchanging it for an equally or higher valued property. A tax advisor or tax preparer can advise more about a 1031 Exchange and how it can tax defer the sale amount. Our Investor Cash Flow product can get the deal closed as quickly as possible to meet the 1031 Exchange purchase deadline.  

Self-Employed and 1099 Earners

If your borrower has been self-employed or a 1099 earner for at least two years, they might be eligible to use bank statements or 1099 earning statements instead of tax returns. Even if it has been less than two years, call us to find out more details on how our Bank Statement program works. We can advise on when they might be eligible or another loan option that might work instead.

Qualify on assets to purchase or refinance

Many people think an asset loan is only for retirees. Our Asset Qualifier helps eligible borrowers with unique situations. Self-employed people with a new business, divorce situations with large settlements or anyone who can use assets they already have can use this loan. No tax returns or employment information is needed. This loan can be used for a new purchase or a refinance. 

What is your borrower’s story? Whether it is similar to the above examples or completely different, we are here to listen and advise. We are happy to set up a webinar to educate you and your Realtor clients on non-QM and why it is in demand to qualify for a loan in today’s market. Call today to schedule!