![]() ![]() Those who buy homes expressly to flip them for profit or turn them into rental properties often use non-QM loans. Some buyers who can buy a home with cash prefer to take out a non-QM loan to finance their purchase in order to maintain a positive cash flow. They can often qualify for a non-QM loan using bank statements rather than tax returns. Self-employed individuals often have irregular income that may come from several sources. Non-QM loans are often a good fit for those who have unique income situations: Because there is more work required to process non-QM loans, the interest rates tend to be anywhere from 0.5% to 5% higher, depending on the loan terms. All borrowers are still required to prove their ability to repay the loan. Even though these loans do not meet the standard requirements, they are not necessarily riskier loans. Loans that meet all the new criteria are called “qualified mortgages.” Any loan that falls outside of those qualifications is called a “non-qualified mortgage” or non-QM.Ī non-QM is a mortgage loan that uses alternate methods to verify income to qualify borrowers. In order reduce risk of loss after the mortgage meltdown in 2008, federal regulators tightened borrower requirements on mortgage loans that could be backed and bought by government agencies. ![]() In these situations, a non-qualified mortgage (non-QM) may be the solution. Yet, while they may not be able to qualify for conventional loans for various reasons, these buyers may still have enough income or assets to afford homeownership. website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.Many homebuyers do not have the standard or consistent forms of income that are typically required by mortgage lenders. If you are experiencing difficulty with any content on Lord & Shelton Mortgage Solutions, LLC. This may be a result of not having found or identified the most appropriate technological solution. website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.ĭespite our efforts to make all pages and content on Lord & Shelton Mortgage Solutions, LLC. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety. accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. The software allows floridamortgage.loans to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1). ![]() makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.Īccessibility on Lord & Shelton Mortgage Solutions, LLC. strives to ensure that its services are accessible to people with disabilities. today to discuss your mortgage loan options, and find out which loan program will best suit your needs. unique is that we offer the following niche programs as well: Self-employed borrowers, Non-QM, Bank Statement Income, and Investment.Ĭontact Lord & Shelton Mortgage Solutions, LLC. What makes Lord & Shelton Mortgage Solutions, LLC. We offer the following Refinancing Programs: FHA Streamline | FHA Cash Out | VA Streamline | VA Cash Out | Conventional | Commercial | Reverse If you're looking for cash out, or to just get a better rate and term, we can assist you. We offer a wide range of refinance options, designed to best meet the needs of local borrowers. In terms of Purchase Loan programs, we offer the following: FHA | VA | USDA | Reverse | Commercial | Conventional Refinancing? We can help you with that, too! Whether you are buying a home or refinancing in any Florida zip code, we can help you realize your dream of homeownership or save you money when getting your new lower monthly payment. We specialize in First Time Homebuyers, USDA, & FHA Loans in the State of Florida. ![]() We are a full-service mortgage company based in Ocala, Florida. Welcome to the official site of Lord & Shelton Mortgage Solutions, LLC. First Time Homebuyers and FHA Loans in Florida ![]()
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