Expanded Suite of Products / Non QM
GMFS is excited to offer Expanded Products! These products allow for borrowers who may not be eligible for traditional conventional loans to qualify, especially self-employed borrowers and those with sufficient assets to cover a loan.
Expanded Suite of Products include the Expanded Prime Program, Non-Prime Program and the DSCR Program. These products complement our current Expanded Line that are targeted towards Non-QM borrowers. GMFS offers Bank statement Options, Asset Utilization Features, Non-Warrantable Condos and much more.
Expanded Suite Features
- Personal & Business Bank Statements with the use of 1099’s
- Loan amounts up to $3 Million
- DTI up to 50%
- 1-Year Tax Return and W-2 Doc Options
- Investors with greater than 10 properties
- Non-Warrantable Condos
- Prior Foreclosure or Bankruptcy
- Up to 90% LTV
- No MI
- Interest Only options for Fixed and ARMs
- Prepayment Penalty for Investment Properties that Offer More Attractive Pricing
- 5/6 SOFR ARM
DSCR for Investment Borrowers
- Qualification Based on Cash Flow from Subject Property only
- 680 minimum FICO
- Loan Amounts up to $2M
- Purchase & Rate and Term LTV up to 80%
- Cash out LTV up 75%
- 1 X 30 X 12 Mortgage History Acceptable
- No DTI / DSCR ratio down to 1.0
- 30 year fixed, 30 year fixed I/O, 5/6 ARM, and 5/6 ARM I/O