Non-QM Loans for Primary Residence

[Dustin Sanders]

🚨🚨Hey everyone! I’m a realtor & an investor here in Pensacola, FL (FL Panhandle/Gulf Coast). I’m helping a client find & purchase a home who is hoping to do seller financing due to their credit score.

As another option, are there any non-QM loans for primary residences?? I’ve never used one personally though if this is a possibility, I’d love to connect & chat about their options!

[Nicholas Covington]

Quote from @Nick Conley:

Quote from @Dustin Sanders:

@Devin Peterson @Nick Conley @Nicholas Covington thank y’all for sharing your comments & helping me understand this!

 No problem, I did see @Nicholas Covington mention the higher down payment. That is not always the case, there are many Non QM options with 10% down payment. Note you do get a risk adjusted rate since there is no PMI so I would expect higher than what you typically see.

My comment regarding downpayment was a general statement about having a "low" credit score. If you are doing 10% down at a 580 credit score sign me up.