NONI – Non Owner No Income.
A simple, innovative business purpose loan product available exclusively at theLender. NONI is the result of four years and over $5 billion in NonQM submission R&D. We’re here to help you add this incredible business line to your business.
- No Pricing Adjustments for cash-out, units, IO, or condo
- Qualify your DSCR off of the Note rate! If Interest Only, ITIA is used!
- No Income/No Reserves/No Employment on 1003
- Gift Funds Allowed
- 3 Credit Tiers 680+ / 640-679 / & 620-639
- $3,500,000 Max Loan Amount
- $2,000,000 Max Cash Out
- 80% Max LTV
- 620 Minimum Credit Score
- Qualification DSCR ≥ 1.0
- Financed Properties No Limit on Number of Financed Properties
- 3 Year Seasoning Foreclosure, Short Sale, Loan Modification, Deed in Lieu & Bankruptcy
- Terms: Fixed, ARM & Interest Only Options
- Soft Prepay Available