In an ever-changing industry, knowledge is power. Now, non-qualified mortgages (“Non-QMs”) present industry professionals with a pivotal opportunity that could take their business to new heights. Between the housing market’s high demand and low inventory, compounded with the potential for rising interest rates, many homebuyers face challenges when it comes to achieving their homeownership dreams. Challenges thicken and become especially difficult for borrowers who don’t fall within traditional qualifying guidelines.
There has been a sizable uptick, with accompanying projections for continued growth, of borrowers seeking non-QMs, home financing built to work for their unique needs. Additionally, non-QMs have become a number one choice for a variety of homebuyers, particularly because they’re allowing borrowers to secure higher loan amounts with more lenient and less restrictive qualifying criteria, compared to traditional mortgages insured by government agencies.
Through its SMART Non-QM Loan Series, Newrez has built a suite of multiple distinct mortgage products that meet the various needs of creditworthy borrowers who may not otherwise satisfy conventional financing requirements. Those who may be able to benefit from Newrez’s non-QM products include borrowers that fall just outside the qualified mortgage requirement such as self-employed borrowers, bank statement or asset qualifiers, real estate investors, prime borrowers, and more.
Comprising three key non-QM loan types, Newrez’s SmartSeries suite is designed to fit the needs of homebuyers who fall just outside of traditional qualifying guidelines. The products include:
- SmartSelf, which is ideal for self-employed borrowers requiring the use of bank statements and/or asset amortization to qualify.
- SmartEdge, which offers competitive financing solutions for borrowers who fall just outside of standard agency and prime jumbo programs due to a credit event or other isolated lapse in their credit performance.
- SmartVest, a solution designed for experienced real estate investors seeking to purchase or refinance an investment property that is owned for business purposes.
By offering alternative and attractive lending solutions like our SmartSeries products, Newrez is able to open the door for so many more prospective buyers and close that many more loans.
Recently marking a major growth milestone in non-QM loan originations one year after its introduction, Newrez’s SmartSeries product suite continues to gain traction and market share amid shifting borrower trends.
The continued success and growth with non-QMs are made possible and backed by their seasoned loan consultants on the frontlines and dedicated operations experts behind the scenes working to close loans quickly and smoothly. With a customer-first business philosophy, forward-thinking approach, and ever-expanding product lines, Newrez is positioned to level up the mortgage experience for borrowers, real estate agents, and mortgage professionals not only in today’s market, but for years to come.
Get more information on SmartSeries and Newrez opportunities.
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