We are pleased to announce significant changes to our credit requirements for non-QM loan programs.
What has changed?
In the past, if we pulled your credibility from all three main offices (pass, Equifax and Experian) and your middle score is 700 or higher, you still need at least three channels in the trade community to qualify. These trade lines can be credit cards, car loans, mortgages, or other reports accounts.
Now, we make it easier.
Use our latest guidelines:
- You only need one trading bank.
- The trade line can be opened for just one month.
- As long as you have three scores and the intermediate score is 700 or higher, you are eligible for any non-QM program we offer.
Why is this important?
us Understand that not every borrower has a long credit history. Maybe you have avoided debt, or maybe you are a newbie in building credit. Under our new rules, you can still enjoy the same non-QM products, including products for self-employed borrowers, investors, and other products with non-traditional income documents, without meeting the old trade line requirements.
touch We discuss your limited credit history and how to help you get financing.
