NONI – Non Owner No Income.
A simple, innovative business purpose loan product available 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.
Program Highlights
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- As little as 0 months reserves (Use property cashflow to qualify)
- FICOS As Low As 620
- No Seasoning on cash out or rate and term
- No LTV Restrictions on 2-4 units
- LTV’s up to 85% (min 680 fico)
- No Rate Or Pricing Adjustments on Cash Out, Interest Only, Condo, Units
NONI Purchase & R/T
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- Now going to 85% LTV on Purchase & R/T Transactions (min 680)
- Now going to 80% LTV on Purchase & R/T Transactions (min 660)
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NONI Cash Out
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- Now going to 80% LTV on Cash out Transactions (min 680)
- Now going to 75% LTV on Cash out Transactions (min 660)
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Across the Board Expansion
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- Increased max loans amounts across the board (Max $3.5mm)
- Now allowing 1x30x12
- Short Term Rental – NOW only need 1 year experience
- Business funds now OK with 25% ownership
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NONI Toolbox
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- ACH Form
- Business Purpose Broker Package
- Business Purpose Cash Out Letter
- Business Purpose Doc Request
- Business Purpose Loan Sign Up
- Business Purpose Matrix
- Business Purpose Submission Form
- Commercial Loan Application
- Disclosure Certification and Acknowledgement
- NONI Calculator
- NONI Checklist
- NONI Fact Sheet
- NONI Prequalification Checklist
- Personal Guaranty form – LLC ONLYDownload the whole NONI Submission Package
- HERE
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CEMA Information
If you have more questions or need more information, please shoot us an email at TeachMeToNONI@theLender.com