Jumbo Borrowers Look To Non-QM Options In Today’s Market
Home prices are still high across the country and as a result non-QM Jumbo options are more in demand for a number of reasons. Stricter Agency guidelines, including requirements for condos, and increased fees for second homes and high balance loans have borrowers looking to non-QM. As you prospect for Jumbo borrowers and talk to Realtors, make sure you market our Platinum Jumbo non-QM option that can avoid Agency fee increases and allows non-warrantable condos.
Platinum Jumbo Highlights:
- Up to 95% LTV – No Mortgage Insurance!
- Loans up to $3 million
- Four years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Owner-occupied, second homes, and non-owner occupied
- Purchase and cash-out or rate-term refinance
- 40 year fixed interest only available
- One year tax return program
- Delayed financing available
- Non-warrantable condos allowed
Plus, interest only is available! And to make it even better, for loans locked in June, there will be no rate adjustment for the interest-only option.