What are Specialty (Non QM) Loans?
When traditional banks and lenders refuse to lend because of credit, or lack of income verification for instance your search for a home doesn't have to end. There are many specialty lending companies out there also known as Non QM loans that can come to the rescue. Non QM loans tend to have higher interest rates than traditional mortgage because they are perceived as being higher risk. Some programs provide solutions requiring alternate documents such as bank statements, Profit & loss instead of W2 and tax returns. Other loan programs don't request any income verification, or credit score at all. Most people don't know that and they give up after being rejected by banks.
At Dream Cap loans we pride ourselves in finding solutions for real estate buyers or investors. Not everyones has a perfect credit or W2's to show and that shouldn't stop them from purchasing real estate.