We’re excited to announce a serious change to our credit score necessities for Non-QM mortgage packages.
What’s Modified?
Prior to now, if we pulled your credit score from all three main bureaus —TransUnion, Equifax, and Experian —and your center rating was 700 or above, you continue to wanted at the very least three commerce traces to qualify. These commerce traces may very well be bank cards, auto loans, mortgages, or different reported accounts.
Now, we’ve made it simpler.
With our up to date pointers:
You solely want one commerce line.That commerce line may be open for as little as one month.So long as you will have three scores and your center rating is 700 or greater, you qualify for any Non-QM program we provide.
Why This Issues?
We perceive that not each borrower has an extended credit score historical past. Possibly you’ve averted debt, or possibly you’re new to constructing credit score. Underneath our new guidelines, you may nonetheless qualify for a similar Non-QM merchandise, together with these for self-employed debtors, buyers, and others with non-traditional revenue documentation, with out assembly the previous commerce line necessities.
Contact us to debate your restricted credit score historical past and the way we may also help you safe financing.
