Tag Archives: NIVA

Thursdays Thoughts – DSCR / NIVA loans and how they work!

#ThursdaysThoughts – Debt Service Coverage Ratio loans (NIVA) and how they work! Today is another edition of Non-Agency tid bits of guidelines as I’ve been doing all week.  This loan is POWERFUL!  And a great way to source new business with a past client you might have.

What I would do, is look at all your past clients that already own 1 rental property and call them today.  See if they considered expanding their portfolio at all to gain a new investment property.  With value’s being steady across the Nation and rates rising (gently) this year, NOW’S THE TIME! These loans are great and allow someone to buy a new investment property without a lot of hassle.  No income is on the loan.  Especially if they live in an area where the rents compared to the PITIA would be more significantly.

I’m here to help you gain clarity, prescreen these “creative” loans and get them done.  WITH THE SAME SERVICE you offer your “Agency” clients.  In the first month #GetOnPoint at #BluePoint I’ve watched Non-Agency loans gain approvals and get conditions signed off in 24 hours (or less).  We truly are a broker’s partner for Non-Agency loans and why I highlighted the 9 different programs we have this week.

Check out BluePoint’s product mix here —-> PRODUCT MIX

Let’s have your team get on point with #BluePoint too! I’m in the office helping loans get structured daily.  Why not you! 🙂

As always – #SellWell

 

Two for Tuesday – Lessor of the Two!

#TwoforTuesday – Non-QM loans are fantastic.  And pricing is ON POINT! But what LO’s need to remember is as you structure these bank statement loans, you get the lessor of the two!  The lessor of the 1003 input value or the bank statement calculation once the underwriter is done analyzing them!

I give a great example in today’s video on how to avoid the pitfalls of this.  Make sure you do your own due diligence to the bank statements before you hand them in.  The 1003’s value of what income you use is set in stone at submission.  And never can go up, only down.  You get to use the “lessor of the two” when it comes to Non-QM.  #KnowThis

Non-Qm is definitely here to stay, and has a great function to lending now days.  If you’re not doing at least one of these per month, you’re missing out on opportunity.  Did you meet NIVA, NINA’s smarter sister?  🙂   These investor loans are fantastic and the opportunity to help investors expand their portfolio is fantastic.  With full doc, shorter times for waiting periods, investor loans, bank statement loans and more, NON-QM is a great product to start utilizing if you’re not.  It’s a great way to create options for your borrowers!  Get on POINT HERE!

NIVA