Capital Home Mortgage bellingham
bellingham Non Qualified Mortgages
Non Qualified Mortgage Lender bellingham
Non-Qualified Mortgage Loans Bellingham
A non-qualified mortgage, often known as a non-QM, is a home loan that is exempt from the Consumer Financial Protection Bureau’s (CFPB) agency-standard paperwork requirements. Home loans with maturities longer than 30 years may fall under non-QM loans. It is intended to assist homeowners needing help to satisfy the stringent requirements of a qualifying mortgage.
When applying for a non-qualified mortgage, borrowers can utilize non-traditional methods of verifying their income, which can help them get approved for a home loan. These types of loans are available to borrowers whose income-qualifying circumstances are particularly unusual.
A Non-QM loan may be utilized for new home purchases, refinances, investment properties, or second homes.
Who Can Take Advantage of a Non-QM Loan?
A non-QM loan can make homeownership possible for borrowers who can afford a mortgage but have a unique financial circumstance that makes obtaining a qualifying mortgage challenging.
Non-QM loans fill the gap for self-employed people who have low typical income or have had trouble getting a qualified mortgage loan because of credit problems. Non-QM loans have guidelines for underwriting that let the lender see the “bigger picture” of your financial history. This enables the lender to determine a borrower’s ability to pay back the loan from a slightly different perspective than usual.
A non-qm is advantageous for the following individuals:
- Self-employed people;
- Foreign nationals;
- Real Estate Investors;
- Borrowers with substantial assets;
- Borrowers with limited credit.
Advantages of a Non-QM Loan
- Help borrowers obtain a mortgage if they would not otherwise qualify;
- Provide more flexible terms;
- Use alternate evidence of income, such as bank statements.
Disadvantages of a Non-QM Loan
- Higher interest rate;
- Requires a substantial down payment;
- Limited availability.
Non-QM loans are more expensive upfront and throughout the life of the loan than conventional mortgages. Due to the extra cost of points and fees that frequently accompany a non-QM mortgage, you will likely incur higher closing expenses and have a much higher interest rate than with a conventional mortgage.
Apply For an Auburn Washington Non-QM Loan
A Capital Home Mortgage loan officer can assist you in determining which of our non-QM mortgage options may be optimal for your specific financial circumstances by assisting you in identifying your goals. Call (360) 474-5656 to get started now.
Why bellingham HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
7 Day a Week Support Application to Final Mortgage Payment
bellingham Washington 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 the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
Bellingham Mortgage Programs
Bellingham Home Purchase
Thinking of Buying a Bellingham Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, Secondary, Investment
- FHA, VA, USDA, Native American
- Conventional, Jumbo, Non QM
- Reverse, Renovation, Manufactured
Bellingham renovation home loans
Looking to Rehab a Bellingham Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan? Purchase the Perfect Home and make it your own. Call today.
- Remodel, Renovate or Repairs
- FHA 203K Streamline or full
- fannie mae homestyle reno
- freddie mac home choice reno
Bellingham FHA Home Loans
Great for 1st Time Bellingham Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payment
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores OK
Bellingham VA Home Loans
100% Financing for Bellingham Veterans
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- Simply Qualifying for Veterans
- No Down Payments Requirements
- Lower Credit Scores Accepted
- Manual Underwriting Allowed
Bellingham Conventional Home Loans
Flexibility for Bellingham Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.
- Primary, 2nd Home, Investment
- Great Rates & Low Fees
- Single Family and Multi-Family
- Renovation Loan Programs
Bellingham Jumbo Home Loans
Bellingham Non Conforming Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today to speak to a loan officer.
- Primary Residence and 2nd Homes
- Higher Loan Amounts – 3 Million
- Great Interest Rates
- Investor Specific Guidelines
Bellingham USDA Home Loans
100% Bellingham Rural Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Rural Properties Only
- Primary Residence Only
- Geographic Restrictions
- Income REstrictions
Bellingham Native American Home Loans
Bellingham HUD 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
Bellingham Manufactured Home Loans
Great Alternative Bellingham Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
Bellingham reverse mortgages
Your Bellingham Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- primary residence only
- simple qualifying – equity based
- credit scores not applicable
- Minimum age 62
Bellingham Non QM Home Loans
Making Bellingham Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
Bellingham One Time Close mortgages
Build Your Bellingham Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
Bellingham Refinance Mortgage Loans
Bellingham Rate & Term Refinance
Refinancing can be a hard decision and the payback can sometimes be confusing. Call today and let our Loan Officers walk you through the process.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Bellingham Cash-out Home mortgages
Bellingham Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Vacation or Education