Question 1

Does applying affect my credit score?

Accepted Answer

Our initial pre-qualification uses a soft credit pull that doesn't affect your score. A hard credit inquiry only happens when you formally apply, and it typically impacts your score by less than 5 points.

Question 2

What documents do I need to apply?

Accepted Answer

Required documents depend on your loan program. Bank statement loans need 12-24 months of statements. DSCR loans need a lease agreement. All programs require ID, credit authorization, and property information.

Question 3

How long does it take to close a NON-QM loan?

Accepted Answer

Most NON-QM loans close in 21-30 days from application to funding. Complex files may take longer. Having your documents ready upfront helps us close faster.

Question 4

Can I get pre-approved before finding a property?

Accepted Answer

Yes, we provide pre-approval letters within 24-48 hours that show sellers you're a qualified buyer. Pre-approval locks in your rate and gives you a competitive edge in hot markets.

Question 5

What are the closing costs for a NON-QM loan?

Accepted Answer

Closing costs typically range from 2% to 5% of the loan amount, similar to conventional mortgages. This includes appraisal, title insurance, origination fees, and prepaid items like taxes and insurance.

Question 6

Is there a prepayment penalty on NON-QM loans?

Accepted Answer

Some NON-QM loans have prepayment penalties (typically 1-3 years), while others don't. We'll clearly disclose any prepayment terms before you commit. Choosing a loan without a penalty gives you more flexibility.

What type of loan do you need?

Application FAQs

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