Non-QM Solutions

LOW DOWN PAYMENTS

Help your borrowers take advantage of the low rates today! Offer the best solution to your first time homebuyers with one of NewRez’s great product mix.

 

NEWREZ OFFERS SEVERAL PRODUCTS WITH DOWN PAYMENTS AS LOW AS 3%:

• Conventional, HomeReady & Home Possible: 3% down with 640+ FICO. The 3% can come entirely from a gift
• FHA: 3.5% down with 580+ FICO
• USDA: 100% financing with 620+ FICO
• VA: 100% financing with 580+ FICO

 

EXPLORE OUR PROGRAMS

• Conventional
• FHA
• HomeReady
• Home Possible
• USDA
• VA

CUSTOM LOAN TERMS

Put Your Borrower's Mortgage in THEIR Hands. Do you have a borrower who doesn't want to add years on to their existing mortgage term? Or someone who just misses qualifying for a 25 year loan? Offer them the term of your choice- 27 years, 23 years, 18 years…it's their choice with our custom term mortgage options!

 

HIGHLIGHTS

• Available for FHA, VA and Conventional products
• Credit scores starting at 660
• You could lower your borrower's monthly mortgage payments!

 

CUSTOM LOAN BENEFITS FOR HOMEOWNERS:

• They're in control of their finances - help them structure the best payment option for their goals
• Help your borrower structure a customized amortization
• Take advantage of lower monthly payments without adding years back onto the mortgage

 

GUIDELINES BASICS

• Eligible Terms: Conforming Fixed - Agency and High Balance
• Eligible Properties: Primary home, 2nd home, or investment properties
• Combine junior lien with a consolidated loan, or take cash out within budget

CREDIT BOOST

We'll help enhance your borrowers' credit scores so they can qualify for the best products and rate programs available - for free! One point or even a credit dispute can break the deal. That's why we offer our FREE Credit Boost program, so you can be assured your borrowers will get the absolute best mortgage program for them.

 

HIGHLIGHTS

• Fast, Individualized, and FREE!
• Possible rescore within 3-5 business days
• Service is customized to your borrower's unique profile and cash reserves
• There is never a charge for this service
• Qualify for a better rate!

 

WE MAY BE ABLE TO HELP:

• Improve overall credit: To potentially help qualify your borrower for the best mortgage option for them.
• Enhance credit score: Enabling your borrower to qualify for the best product and rate program.
• Clear delinquent credit: Avoid items that affect closings such as judgements, charge-offs, duplicate accounts, and credit disputes.
• Eliminate last minute roadblocks: By resolving delinquent credit items that affect closings, we remove the roadblocks to ensure a smooth process from application to funding.

Credit Boost Submission Form is found on our Forms page for use after 1003 upload.

MANUFACTURED HOUSING

We understand the unique ins and outs that financing manufactured homes present. Our Conventional & FHA Manufactured Housing mortgages are designed to make home ownership affordable for Purchases, and Rate/Term. We understand the unique ins and outs that financing manufactured homes present, that’s why we provide mortgages that are specifically aimed at making home ownership affordable for these types of homes.

All manufactured homes must have the original title surrendered in accordance with applicable state law and be titled and taxed as real property prior to closing for both Conventional and FHA loans. All loans must score Approve/Eligible or Accept through DU or LPA.

 

HIGHLIGHTS

• Conv FICO 660, FHA FICO 680
• PUDs eligible
• Low down payment options

 

CONVENTIONAL HIGHLIGHTS

• Primary Homes and Second Homes
• Purchase, Rate-Term:
  Maximum LTV 95%
  Minimum FICO 660
• Cash-Out: Not permitted
• PUDs Eligible

 

FHA HIGHLIGHTS

• Primary Homes
• Fixed Rate Only
• Purchase, Rate-Term and Simple Refi, and Credit Qualifying Streamline:
  Maximum LTV 96.5%
  Minimum FICO 680
  Maximum DTI 45%
• Cash-Out: Not permitted
• PUDs eligible