We’re excited to announce a significant change to our credit score necessities for Non-QM mortgage applications.
What’s Modified?
Previously, 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 a minimum of three commerce strains to qualify. These commerce strains 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 might be open for as little as one month.So long as you could have three scores and your center rating is 700 or increased, you qualify for any Non-QM program we provide.
Why This Issues?
We perceive that not each borrower has a protracted credit score historical past. Possibly you’ve prevented debt, or perhaps you’re new to constructing credit score. Below 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 earnings documentation, with out assembly the previous commerce line necessities.
Contact us to debate your restricted credit score historical past and the way we will help you safe financing.
