Non Owner Business Purpose loans are gaining popularity

Non Owner Occupied business purpose loans are made outside of the Dodd Frank guidelines and therefore follow different guidelines which focus on the 51% rule. This rule means that at least 51% of the loan proceeds are used for Business Purpose, which include home improvements, repairs, purchase of additional investment properties or used for the primary borrower’s own business needs. These loans are typically made on SFR, Condo's, Condotels, and 2-4 units. #nonqmanswerman