Non-QM loans in Chicago are alive and doing well. Non-QM loans are those loans against 1-4 unit properties that do not abide by the rules set in place after the 2008 melt down, loans with risky features or loans that do not fully vet a borrower. Asset-based lending, loans based on the cash-flow of a property (DSCR) or bank statements fall in this category.
If you're interested in qualifying for a loan based on assets, cash flow of a property or bank statements, give me a call at 847-840-8884.
Chicago condo loans come in quite a variety of projects. Some do not meet conventional condo mortgage requirements. And other programs have issues with condos, in general, like the FHA. The FHA wants condos to belong to project it's approved. And there are few projects that are approved. For that reason, it is best to fall in love with a condo that's in a project that meets the conventional condo mortgage requirements.
There are many condo mortgage requirements. A a handful of them give rise to most of the problems people...
Googling "FHA 203k Chicago" but not out of sheer curiosity? The this article is for you as it will point out mistakes people make and tell you how to avoid them.
Googling "FHA 203k Chicago" but not out of sheer curiosity? The this article is for you as it will point out mistakes people make and tell you how to avoid them.
Chicago condo loans come in quite a variety of projects. Some do not meet conventional condo mortgage requirements. And other programs have issues with condos, in general, like the FHA. The FHA wants condos to belong to project it's approved. And there are few projects...
Non-QM loans in Chicago are alive and doing well. Non-QM loans are those loans against 1-4 unit properties that do not abide by the rules set in place after the 2008 melt down, loans with risky features or loans that do not fully vet a borrower....