Non-QM Program Options That Can Help Capture More Business

Angel Oak Mortgage Solutions not only offers non-QM products that not all lenders have, but great options within those products. The features of our non-QM products can help originators provide more value to their borrowers and referral partners – and lead to more closed loans.

Here are program options available through our non-QM loan products important to know about:

Our 40-year fixed interest-only option can help lower monthly mortgage payments for your borrowers. Borrowers qualify on the 30-year amortized payment, but on the first ten years of the loan they make only interest payments.

We recast monthly – if they make a payment towards the principal, we will adjust the interest-only payment accordingly. This can be used for a purchase or a refinance.

Products: Bank Statement, Platinum Jumbo, Investor Cash Flow, Portfolio Select

Many cash buyers might want to finance the home, especially if they paid cash just to win a bid. You can turn cash buyers into a closed loan through delayed financing. A cash buyer is a potential borrower! Get the word out to Realtors and anyone else you know.

With delayed financing, borrowers who paid cash can get a mortgage within six months of purchase without waiting to recoup a majority of that cash. Let real estate investors know that they don’t have to leave assets tied up in a home after paying cash. Through delayed financing, investors can use the cash to buy a new property or renovate to ready it for renters.

Products: Bank Statement, Platinum Jumbo, Investor Cash Flow, Portfolio Select, Asset Qualifier, ITIN, Foreign National

We can issue preapprovals for borrowers who do not yet have a property to purchase. Your borrowers will know what they can afford and the income we will use, but that loan does not go into our system for processing.

We can determine income for self-employed borrowers without using tax returns. We look at self-employed borrowers’ 1003 credit and either personal or business bank account statements to calculate income.

Products: Bank Statement, Platinum Jumbo, Investor Cash Flow, Portfolio Select, Asset Qualifier, ITIN, Foreign National

We do a lot of cash-out refinances for our originator clients that allows their borrowers to tap into their equity to achieve various goals. All of our non-QM products can be used for a cash-out refinance.

Get the word out to borrowers that a cash-out refinance is a great option for high-interest debt consolidation, home improvement projects, real estate investment purchases, tuition, or to fund a new business.

Products: Bank Statement, Platinum Jumbo, Investor Cash Flow, Portfolio Select, Asset Qualifier, ITIN, Foreign National