Wholesale
We know you want your clients to receive the best service, and that starts with the right financing program. Our wholesale offerings allow you to cater to a wide range of lending scenarios while receiving assistance from our knowledgeable brokers when you need it.Wholesale Products
Flex Supreme
Flex Supreme is at the top of the NQM Funding programs waterfall offering the best pricing for the most qualified borrowers who do not have any credit challenges and possess very stable employment, income and assets history.
- PROGRAM DETAILS
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- Loan Amounts From $150K to $3.5M
- Max 80% LTV / 680 Min FICO / Max DTI 50%
- 40-Year, 30-Year and 20-Year Fixed-Rate MortgageTerms
- OO and Second Home Only
- Purchase, Rate/Term and Cash Out (Max Cash Out $1M)
- 1 or 2 Years Full Doc and Alt Doc: 12 or 24 Months Bank Statements, 2 Years 1099, Asset Utilization
- Single-Family Residence/PUD, Condo (Warrantable Only), 2-4 Units, Max 10 Acres
- U.S. Citizen, Permanent Resident Aliens and Non-Permanent Resident Aliens
Select Prime Full Doc
A great option for wage earners that require a bit more leniency than traditional non-agency/jumbo requirements allow. This Non-QM full documentation solution offers expanded credit options, non-warrantable condos and other loan features.
- PROGRAM DETAILS
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- Up to 90% LTV
- ITIN to 85% LTV (Purchase / 1 Unit Single-Family Residence/PUD)
- Loan Amounts From $125K to $3.5M+
- Purchase, Rate/Term and Cash Out
- OO, Second Home, NOO
- 1 or 2 Years Full Doc or Asset Utilization (36 or 60 Months)
- ≥ 12 Months Seasoning on Credit Events
- U.S. Citizen, Permanent and Non-Permanent Residents, ITIN
Select Alt Doc
Empowers self-employed borrowers to use the best earnings documentation type to tell their financial story with the same expanded credit flexibilities as full documentation, without using tax returns.
- PROGRAM DETAILS
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- Up to 90% LTV
- 640 Min FICO
- Loan Amounts From $125K to $3.5M+
- Purchase, Rate/Term and Cash Out
- OO, Second Home, NOO
- 1 or 2 Years Bank Statements,1099, P&L With 2 Months Bank Statements, P&L Only, Tip Income (WVOE Plus 2 Months Bank Statements) or WVOE and Asset Utilization
- Less Seasoning on Recent Credit Events
- U.S. Citizen, Permanent and Non-Permanent Residents, ITIN
Asset Utilization / Depletion
This option allows a borrower to better qualify by using net qualified assets as supplemental income to another primary source of income to reduce the DTI or by deriving their income entirely from assets. This is ideal for clients who do not have qualifying proof of employment.
- PROGRAM DETAILS
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- Up to 90% LTV / 640 Min FICO
- Loan Amounts From $125K to $3.5M
- Purchase, Rate/Term and Cash Out
- OO, Second Home, NOO
- Qualified Assets: 100% Credit of Checking, Savings and Money Market; 80% Stocks and Bonds; 60–70% of Retirement Accounts
- U.S. Citizen, Permanent and Non-Permanent Residents, ITIN
Flex Second Lien
For borrowers with a first lien, this offering provides the additional cash they may need without disrupting their first mortgage or serves as a source of down payment for purchase transactions. Income qualifications are based on 2 years of full documentation or self-employed alternative documentation.
- PROGRAM DETAILS
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- Up to 90% LTV / 640 Min FICO
- Loan Amounts From $125K to $3.5M
- Purchase, Rate/Term and Cash Out
- Up to 85% CLTV / 680 Min FICO
- Loan Amounts From $125K to $500K
- 0x30x24 Mortgage History
- Purchase, Rate/Term and Cash Out
- OO and Second Homes
- 2 Years Full Doc or 2 Years Alt Doc (Bank Statements, 1099 or P&L With 2 Months Bank Statements)
- U.S. Citizens, Permanent and Non-Permanent Resident Aliens
Super Jumbo
The Super Jumbo program is a specialty product for high-net-worth borrowers with solid, stable income and credit and considerable assets for down payment, closing costs and reserves. The collateral must be a prime real estate property within a prime real estate market.
- PROGRAM DETAILS
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- Loan Amounts > $3.5M to $5M
- Max 70% LTV / 720 Min FICO
- Max DTI 38%
- Primary Residence Only
- Purchase, Rate/Term and Cash Out (Max Cash Out $1.5M)
- 1 or 2 Years Full Doc, 24 Months Bank Statements and Asset Utilization (Assets Divided by 84 Months)
- 30-Year Fixed Rate or 40-Year Interest-Only
- Single-Family Residence/PUD (1 Unit), Condo (Warrantable/Non-Warrantable), Max 2 Acres
- U.S. Citizen, Permanent and Non-Permanent Resident Aliens
Investor DSCR 1-4 Units
First-time investors allowed. Financing for 1-4 units non-owner occupied (business purpose only). This option bases qualifications on the Debt Service Coverage Ratio (DSCR) — the rental property’s cash flow, not DTI from the borrower’s employment income.
- PROGRAM DETAILS
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- Up to 85% LTV on Purchase of 1 Unit (Single-Family Residence/PUD), 720 Min FICO
- Loan Amounts From $150K to $3M+
- Purchase, Rate/Term and Cash Out
- DSCR Options: ≥ 1.00, ≥ 0.75 to 0.99 or No Ratio
- No Ratio: 700 Min FICO, Purchase and Rate/Term 75% LTV and Cash Out 65% LTV
- 3 Years Seasoning From U.S. Credit Events
- Condotels and Short-Term Rental Financing Available
- Foreign National Available Using the Foreign National Program
Investor DSCR 5-10 Units or 2-8 Mixed Use
Financing solutions for borrowers with 1+ years of recent experience in owning and managing either a commercial or residential real estate property (business purpose only). Income for both 5-10 all residential and 2-8 mixed-use properties are based on rents covering the mortgage payment.
- PROGRAM DETAILS
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- Up to 75% LTV / 660 Min FICO
- Loan Amounts From $250K to $3M
- Purchase, Rate/Term, Cash Out
- Min DSCR = 1.00
- LLC or Corporate Title Vesting at Closing Eligible With Natural Person
- U.S. Citizens, Permanent and Non-Permanent Residents and Foreign Nationals
Foreign National
oreign nationals can utilize this program to acquire a second home or an investment property. This alternative documentation process allows borrowers to prove their qualifications and provide sources of income with translated documents.
- PROGRAM DETAILS
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- Up to 75% LTV With Full Doc / 70% LTV With DSCR
- 700 Min FICO (U.S. Credit) or Foreign Credit (No Score)
- Loan Amounts From $150K to $3M+
- Second Homes and NOO (Business Purpose)
- Income Types: 2 Years Full Doc, Asset Utilization and DSCR
- Purchase, Rate/Term and Cash Out
- Property Type: Single-Family Residence, 2-4 Units, Warrantable and Non-Warrantable Condo, Condotel and Short Term Rental Financing – May Use AirDNA
- Foreign National, First-Time Investors Allowed
2/1 Temporary Buydown
This feature can be used with three programs for ALL Occupancy Types: Select Prime Full Doc, Alt Doc and Investor DSCR 1–4 Units. When combined with the 30 year note rate, this feature allows a borrower to ease into monthly payments. They will pay 2% less interest in their first year, 1% less in their second and the actual note rate of interest starting on the third year. This is a great strategy for sellers to leverage, creating a sales advantage over other properties in their market. Seller- or builder-funded only, lender paid or third party buydown (excluding real estate agents, brokerages, borrower or relatives) are permitted for correspondent clients only.
- PROGRAM DETAILS
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- Up to 80% LTV / 680 Min FICO
- Add-on Feature to Full Doc, Alt Doc or DSCR 1–4 Units Programs
- Purchase Only
- OO, Second Home, NOO
- 30-Year Fixed-Term Only, Seller- or Builder-funded Only, Lender-Paid or Third Party Buydowns Are Permitted for CORR Clients Only – Qualify off Full Payment (Note Rate)
- U.S. Citizens, Permanent and Non-Permanent Residents
P&L and 2 Month Bank Statement
This option is a feature of the Select Alt Doc series that provides the flexibility a self-employed borrower may need without requiring extensive documentation. Instead, they can prove their income with a minimum of 2 months of corporate bank statements in addition to a profit and loss statement prepared by a CPA, EA or PTIN from the last 12 or 24 months.
- PROGRAM DETAILS
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- Max 90% LTV / 640 Min FICO
- > 85% LTV With 760 FICO to Max $1.5M
- Loan Amounts From $125K to $3.5M
- Purchase, Rate/Term and Cash Out
- OO, Second Home, NOO (Business Purpose)
- 1 or 2 Years of CPA/EA/PTIN-Prepared P&L With Min 2 Months Bank Statements
- U.S. Citizen, Permanent and Non-Permanent Residents
We're Always Here To Guide You
- How quickly can I close my loan?
- While every loan situation is unique, we know that timely closings make everyone happy. NQM Funding, LLC always strives to close their loans on time.
- Is my data secure?
- Your data, as well as that of your clients, is always protected with NQM Funding, LLC. We never share, sell, or distribute your information.
Calculators
1099 Income Calculator
Reports a buyer’s income as a means of securing a Non-QM loan, which can be helpful in the event that they cannot verify their income via tax returns.
2-1 Buydown Calculator
Calculates a borrower’s interest rate for the first two years of loan payment on a 2-1 buydown option.
Asset Utilization Calculator
Calculates how effectively and efficiently an organization uses its assets to bring in revenue and cut back costs.
Bank Statement Calculator
Determines a borrower’s monthly income and maximum home price, loan amount, and estimated closing costs based on provided bank statements.
DSCR Calculator
Measures whether a borrower’s cash flow is sufficient enough to generate an adequate return on their investment.
Profit and Loss Calculator
Demonstrates a borrower’s fiscal ability to make loan payments through the strength and viability of the borrower’s business.
Forms
Appraisal Transfer Form
Outlines the appraisal transfer requirements and documentation needed for completion and provides a form authorizing the transfer of an appraisal.
Business Narrative Form
Outlines the details of a borrower’s business. This must be completed in order to receive a bank statement analysis prior to submission.
Condo Questionnaire
Provides proof that a condominium unit and the development are in compliance with underwriting requirements.
Exception Request Form
Provides context for suboptimal borrowing situations. Must be submitted when a borrower does not meet a lender’s funding requirements..
Submission Checklist
Helps you keep track of client forms and documents required for submission so you can ensure a timely closing.
Policies
Appraisal Policy
Outlines the appraisal transfer requirements and documentation needed for completion and provides a form authorizing the transfer of an appraisal.
Wholesale Lock In Policy
Locks in a borrower’s lending rate so that it does not change between the time of the initial offer and closing.