Capital Home Mortgage Chattanooga
Chattanooga Non Qualified Mortgage Loans
Chattanooga Non Qualified Mortgage Lender
Capital Home Mortgage Chattanooga extends a warm welcome, emphasizing our dedication to providing a wide array of Non-Qualified Mortgage (Non-QM) options specifically designed to cater to the distinct requirements of homebuyers and homeowners in Chattanooga. As a prominent Non-Qualified Mortgage Lender in the region, we focus on delivering alternative mortgage solutions for clients with unconventional financial backgrounds, such as self-employed individuals, real estate investors, non-citizens, and those seeking to qualify for a mortgage based solely on their assets.
At Capital Home Mortgage Chattanooga, we understand that each borrower’s financial situation is unique. Our team is dedicated to guiding you through the complexities of the Non-QM mortgage process, providing personalized solutions that address your specific needs. We take pride in our ability to offer a wide array of Non-Qualified Mortgage options, including evaluating competitive Chattanooga Non-QM rate options. Our extensive experience and commitment to exceptional customer service make us a reliable choice for anyone seeking a Non-QM loan in Chattanooga.
Whether you’re navigating the challenges of self-employment, managing multiple investment properties, or require an alternative approach to mortgage qualification, Capital Home Mortgage Chattanooga is here to help. Our expertise in Non-QM lending allows us to craft mortgage solutions that are as flexible and innovative as your financial situation demands.
We invite you to contact us today at (615) 549-5666 to speak with a Chattanooga Non-Qualified Mortgage Specialist who can assist you in exploring the best mortgage options for your needs. Let us partner with you on your journey to securing the financing that aligns with your unique circumstances.
Chattanooga non Qualified Home Loans
What is a Chattanooga Non-Qualified Mortgage Loan?
A Non-Qualified Mortgage (Non-QM) loan in Chattanooga is a home loan designed for borrowers who may not meet the traditional criteria required for a Qualified Mortgage (QM) under federal guidelines. Non-QM loans provide flexibility for individuals with unique financial circumstances, such as self-employed borrowers, real estate investors, foreign nationals, or those with complex income structures who may not have the documentation typically required for a standard mortgage.
Characteristics of Non-QM Loans:
- Flexible Qualification Criteria: Unlike Qualified Mortgages, which adhere to strict lending standards such as debt-to-income (DTI) ratios, income documentation, and credit score requirements, Non-QM loans offer more flexible qualification criteria. This allows lenders to consider alternative forms of income verification, such as bank statements, asset depletion, or projected rental income, making these loans accessible to borrowers with unconventional financial profiles.
- Customized Loan Terms: Non-QM loans often have customizable terms to suit the borrower’s needs. This could include interest-only payments, adjustable-rate mortgages (ARMs), or longer loan terms, providing greater flexibility in managing monthly payments and overall loan structure.
- Higher Interest Rates: Due to the increased risk associated with Non-QM loans, they typically have higher interest rates than Qualified Mortgages. Lenders charge these higher rates to compensate for the additional lending risk to borrowers who may not fit the standard criteria.
- No Government Backing: Unlike some Qualified Mortgages, which may be backed by government entities like the Federal Housing Administration (FHA), Non-QM loans are not government-insured. This means they do not have the same protection against default, contributing to higher interest rates and stricter terms.
How Non-QM Loans Differ from Other Home Loans:
Non-QM loans differ from traditional Qualified Mortgages primarily in their flexibility and risk profile. While QM loans are designed to ensure that borrowers can repay their loans based on strict, standardized criteria, non-QM loans allow for greater flexibility in assessing a borrower’s financial situation. This flexibility makes non-QM loans particularly attractive to borrowers with significant assets, but irregular income or those denied a standard mortgage due to their non-traditional financial profile.
Non-QM loans provide an alternative pathway to homeownership for those who do not fit the conventional mould but still have the financial means to purchase a home. They play an essential role in the mortgage market by offering customized solutions for various borrowers.
Chattanooga Non Qualified Home Mortgage Loans
A DSCR loan, or debt service coverage ratio loan, is a type of mortgage loan used for purchasing short-term or long-term rental investment properties. With a DSCR loan, borrowers can qualify for a mortgage based on a property’s rental analysis. No personal income or employment information is required to qualify. Debt service coverage ratio or DSCR is a measurement of a property’s expected cash flow to determine ability to repay a mortgage loan. It is calculated by dividing the borrower’s net operating income by their debt obligations, including the debt payment.
- Purchase, Rate & Term, Cash-Out
- Minimum Credit 660
- Maximum LTV 85% (Dependent on Property Type / Credit Score)
- Qualify based on Property Income
- DSCR < 1.0 and No DSCR Options
- No Employment or Income Information Required
- LLC’s Allowed
- Interest Only Allowed
- No Limit on Total Properties
- Short Term Rentals Allowed
- Vacant Properties Eligible
- Non-Warrantable Condos Allowed
- No Condo Hotels
- Non-Permanent Residents Allowed
- Minimum Loan 100K
- Maximum Loan 3M
A bank statement loan is a type of mortgage that allows self-employed borrowers to verify their income based on their personal or business bank statements, rather than traditional methods like tax returns, W-2s, or paystubs. Bank statement loans are generally used by self-employed individuals, small business owners, or independent contractors. Borrowers do not have to own 100% of the business. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan.
- Purchase, Rate & Term, Cash-Out
- Primary, Secondary and Investment
- Minimum Credit 640
- Maximum LTV 90%
- 12 or 24 Months Business or Personal Bank Statements
- Most loans will be qualified on an expense factor of 50%
- Rates are 30-year fixed
- Interest Only Options
- Two Year Seasoning Foreclosures / Bankruptcy
- Minimum Loan 150K / Maximum Loan 3M
Chattanooga P&L Mortgage Loans
1-year and 2-year Profit & Loss Statement Home Loans tailored for self-employed individuals. These loans allow borrowers to use their business’s Profit & Loss (P&L) statement to qualify, bypassing traditional income verification
- Purchase, Rate & Term, Cash-Out
- Primary Residence Only
- No Employment, No Income, No DTI
- Minimum Credit 700
- Maximum LTV 75%
- 12 or 24 Months Business or Personal Bank Statements
- 2 Months Business Statements Supporting income
- Single Business Only
- Two Year Seasoning Foreclosures / Bankruptcy
- Minimum Loan 150K
- Maximum Loan 3M
Chattanooga 1099 Mortgage Loans
- Purchase, Rate & Term, Cash-Out
- Primary, Secondary and Investment
- Minimum Credit 620
- Maximum LTV 90%
- No Tax Returns Required
- YTD Earnings Verified
- Single Employer Only
- Two Year Seasoning Foreclosures / Bankruptcy
- Interest Only Available
- Minimum Loan 150K / Maximum Loan 3M
Chattanooga ITIN Mortgage Loans
Individual Tax Identification Number (ITIN) loans are for borrowers who do not have Social Security numbers. Borrowers with ITIN cards can qualify for a mortgage as long as they meet the eligibility requirements. ITIN loans are full doc non-QM mortgages offering flexibility for individuals residing in the United States.
- Purchase, Rate & Term, Cash-Out
- Primary Only
- Minimum Credit 640
- Maximum LTV 75%
- Up to 50% DTI
- Non Warrantable Condos Allowed
- One Year Seasoning Foreclosures
- Two Year Seasoning Bankruptcy
- Minimum Loan 125K
- Maximum Loan 2.5M
Chattanooga Asset Qualifier Mortgage Loans
The Asset Qualifier loan program is for borrower’s to qualify using their liquid assets. No employment, income or DTI is required to justify ability-to-repay. Borrower to qualify based on required assets that meet seasoning requirements. Designed to help retirees, self-employed, and other borrowers with required seasoned assets to purchase or refinance.
- Purchase, Rate & Term, Cash-Out
- Primary Residence Only
- No Employment, No Income, No DTI
- Minimum Credit 700
- Maximum LTV 75%
- 12 or 24 Months Business or Personal Bank Statements
- Rates are 30-year fixed
- Interest Only Options
- All Assets Sourced and 6 Month Seasoned
- 500K Required in Post Closing Assets
- Five Year Seasoning Foreclosures / Bankruptcy
- Minimum Loan 250K / Maximum Loan 3M
Chattanooga Foreign National Mortgage Loans
Foreign National Home Loans are for individuals wanting to purchase or refinance property in the US, but reside outside of the country. This program is a DSRC program that requires a 1:1 debt service coverage ratio. No income and US credit required.
- Purchase, Rate & Term, Cash-Out
- Minimum Credit N/A
- Maximum LTV 70%
- Qualify based on Property Income
- DSCR 1.1
- LLC’s Allowed
- Interest Only Allowed
- 12 Months Reserves
- No Gifts Allowed
- No Limit on Total Properties
- Short Term Rentals Allowed
- Vacant Properties Eligible
- Must Reside outside US
- Must Have Valid Visa – B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2
- Minimum Loan 100K / Maximum Loan 1.5M
Chattanooga Non Qualified Mortgage Rates
Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.
- Demand for Mortgage Securities
- Property Securing the Mortgage
- Occupancy of the Property
- Loan to Value of the Property
- Borrower’s Credit Worthiness
Why Chattanooga is Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Low Fees
Exceptional Service
7 Day a Week Support Application to Final Payment
Chattanooga Mortgage Company Reviews
Chattanooga Mortgage Team
Chattanooga Mortgage Programs
Chattanooga Purchase loans
Looking to Purchase a Chattanooga Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Chattanooga Renovation Home Loans
Looking to Rehab a Chattanooga Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Chattanooga FHA Home loans
Great 1st Time Chattanooga Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Chattanooga va Home Loans
100% Financing for Chattanooga Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Chattanooga Conventional loans
Flexibility for Chattanooga Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Chattanooga Jumbo Home Loans
Chattanooga Non-Confirming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Chattanooga USDA Home loans
100% Chattanooga Rural Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Chattanooga Native american Loans
Chattanooga Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Chattanooga Manufactured loans
Great Chattanooga Alternative Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Chattanooga Reverse Mortgages
Your Chattanooga Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Chattanooga Non QM Home loans
Making Chattanooga Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Chattanooga Construction Loans
Build Your Chattanooga Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Chattanooga Refinance Mortgages
Chattanooga Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Chattanooga Cashout Mortgages
Chattanooga Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
