All Forum Posts by: Simmy Ahluwalia

@Michael Haas - appreciate the feedback, but I'll also challenge it at the same time. It doesn't matter what part of the country one is in, as non-qm serves a purpose and a solid one at that. For those that "do not" qualify for QM (due to credit, DTI, not showing enough income on taxes, etc....), that's where our programs fit the bill.

Our "asset based" non-qm lending does NOT require tax returns, does NOT look at DTI, does NOT have geographic restrictions, does NOT have a Cap as to how many assets an investor can own (as most QM banks limit an investor to 10 properties).

For our 30 year product, I was quoting 5.5% fixed pre-COVID.  We're obviously higher now, but should be back down within a few months.  I'm still quoting high 5's, low 6's for a Blanket/Portfolio loan of Single Family Rentals.

@Shelly Han - Non Qm lending is tight, but we're quoting 60-65% LTV, rates in the 7's fixed, 30 year term.

@Shelly Han - For non-qm lending, we can go 60-65% LTV with rates in the 7''s fixed.

@Sunny C. - what are the values of each property?

@Paul Maloney - COVID has impacted all of the non-qm lending markets.  You need to adjust your expectations for commercial purchases.  Best we can do is 65% with rates in the mid-6's.  Gone are the 4 and 5% fixed rate options, for a while.

@Reggie Withers - we're still funding ARV loans. Please email us: [email protected]

@Tom Camarda - I'd like to look at your refinance, but I'll be honest, you won't see 4.75% any time soon.  I'm quoting mid 6's for my current clients:  [email protected]

@Harsha G. - ok.  Just so you know, the word "portfolio" generally means a blanket loan on multiple properties (i.e. I have a portfolio of properties to finance).

The 30-year fixed product has been paused since COVID, but will be coming back.  Shoot me an email - [email protected] (no limit to the number of properties that you can Hold)

@Harsha G. - what exactly are you looking for?

@Trevor Foster II - can't get any of your links to work.  Do you have CASH to bring down?