iNOVATIVE MORTGAGE SOLUTIONS
from an independent mortgage brokerage
Taylor Dye, NMLS 2022260
Senior Loan Officer
📞 (805) 837-9002
I deliver a personalized financial service, with innovative loan products and “out of the box” solutions for challenging loan scenarios.
A Full Range of Mortgage Solutions
- Conforming lowest rate mortgages for well qualified borrowers
- Jumbo loans for borrowers that want larger loans amounts than Fannie Mae & Freddie Mac loan limits allow
- Non-Conforming home loans for challenging borrower scenarios, including no-ratio loans, asset-qualifying loans, and bank statement loans
- Investment property loans, including “no doc” DSCR mortgages, and hard money fix & flip loans.
Available Loan Programs (click to expand)
CONFORMING QUALIFIED & NON-QM MORTGAGES
Conforming mortgage loans are the most common loan. They can be sold on the secondary market to Fannie Mae or Freddie Mac and present the lowest risk to lenders. Traditionally these loans require 20% down payment, but with Private Mortgage Insurance (PMI) down payments as low as 3% are available. Qualified conforming loans prime borrowers offer the lowest rates and fastest closing times, and insulate lenders from the legal liabilities resulting from foreclosures and other forms of default.
Non-QM loans, also known as Alt-QM, Non-Agency and Alt-Agency, and Non-Prime and other names, include loans that that do not fit the underwriting criteria of “qualified mortgages” as specified by the Dodd-Frank Act.
“Under a qualified mortgage with a safe harbor, most of the loans within this category will be the loans made to prime borrowers who pose fewer risks. Furthermore, considering the difference in historical performance levels between prime and subprime loans, the Bureau believes that it is reasonable to presume conclusively that a creditor who has verified a consumer’s debt and income, determined in accordance with specified standards that the consumer has a debt-to-income ratio that does not exceed 43 percent, and made a prime mortgage with the product features required for a qualified mortgage has satisfied its obligation to assess the consumer’s ability to repay.” — Consumer Financial Protection Bureau on 01/30/2013
Since 2017 NonQM loans have been rapidly increasing in popularity and lenders have become more comfortable developing these programs. Today’s version of subprime loans are considered much safer than the subprime loans that resulted in the mortgage crisis of 2007 and contributed to the nation’s most serious recession since the Great Depression.
What makes modern Subprime 2.0 mortgages less risky? The two most important factors arguably are the higher credit scores, and the amount of equity required. The older, toxic version of subprime loans offered 100% financing to borrowers with credit scores below 600 without verifying income or assets (financial reserves). Non-QM loans today require good credit scores, and often require equity greater than or equal to qualified mortgage guidelines.
Jumbo Loans: For borrowers that fit the conforming loan guidelines but their loan amount is greater than FHFA conforming loan limits. We offer jumbo loans with as little as 10% down payment.
Jumbo Noncoforming: We offer many jumbo mortgage loan programs for borrowers that do not fit in the conforming loan box due to negative credit and housing events, and alternative income documentation needs, such as bank statements in lieu of tax returns.
BANK STATEMENT LOANS
For self-employed borrowers with consistent cash flow running through their business or personal bank account, but don’t qualify due to significant tax write-offs. Borrowers can qualify on the last 3-to-24 months bank statements.
NO RATIO LOANS
For borrowers that have been told they don’t earn enough income to qualify. Unlike conforming mortgage loans, this loan allows borrowers to qualify on their good credit and down payment, rather than income and employment history.
ASSETS IN LIEU OF INCOME LOANS
This loan is offered as both a conforming and nonconforming loan. Borrowers that are not able to document sufficient income can use liquid savings or retirement accounts as income. This does not tie up the funds, or require the liquidation of investments.
NO DOC & LITE DOC INVESTOR LOANS
DSCR No Doc: For real estate investors that choose to not disclose personal or business income documentation. These loans are underwritten based on the subject property’s ability to repay the loan based on the market rents. Personal income documentation is not required — no tax returns, no pay stubs, no verification of employment.
Lite Doc: This mortgage is ideal for self-employed borrowers that wish to be qualified on a self-prepared P&L statement. No tax returns required. This is not a bank statement loan.
RENOVATION & FIX & FLIP LOANS
Renovation loans are available as both conforming and nonconforming loans. They allow property valuations to be based on the After Repair Value (ARV) and offer the funds needed to purchase and renovate a property.
Call (805) 837-9002
EASY ONLINE APPLICATION
The fastest way to get started is to complete an online application. I will contact you after you complete it to discuss the loan options best suited for your goals.