Niche or Non-QM
Niche or Non-QM
Sometimes, your financial situation doesn't fit the mold. That's where ASCEND Lending's niche/non-QM loans come into play.
What is a
Niche or Non-QM Loan?
A Niche or Non-QM (Non-Qualified Mortgage) loan is a type of mortgage loan that doesn't meet the typical eligibility requirements set by government agencies (like FHA, VA, or conforming loan programs) or the standards set by Fannie Mae and Freddie Mac. These loans are designed for borrowers who may not qualify for traditional mortgage loans due to unique circumstances or financial situations.
Product Features
Flexible Qualification
Non-QM loans offer more flexibility in terms of borrower qualifications. They may consider factors such as non-traditional income sources, high debt-to-income ratios, and credit issues that would typically disqualify borrowers from conventional loans.
Interest-Only Options
Interest-only payment options are available, allowing borrowers to pay only the interest for a certain period before transitioning to principal and interest payments.
Jumbo Loans
Interest-only payment options are available, allowing borrowers to pay only the interest for a certain period before transitioning to principal and interest payments.
