Discover Non-QM Loans: A Game-changer For Savvy Investors and Entrepreneurs

Greater Interview with Ryan Liebowitz - Loan Officer. NonQM Loans! (My name is Ethan Atkinson and I am an Associate Broker with Greater Athens Properties as well as investing in Fix and Flips, Multifamily, Self Storage, and more)
Ryan shares some great insights into what his company Cross Country Mortgage can provide for investors and for people with challenging situations who want to live in the house. Sometimes the loans are called Non-QM, or Non-qualifying mortgages, which is just a fancy term for a mortgage that is not conventional or backed by Freddie or Fannie. Most banks don't do this type of loan, so make sure you listen to the whole video. You can reach him at
Ryan Liebowitz Loan Officer
M 770-633-8005
Website: closewithliebowitz.com
If you are an experienced or a brand new investor and want to learn more about the Georgia market or specifically around Athens please give Ethan Atkinson a call you can reach him:
Ethan Atkinson Associate Broker & Investor
Greater Athens Properties
678-485-9198
Participated in over $20 million as an Investor
300+ properties as an Agent
bit.ly/m/EthanRE
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*Summary Key Points:*
1. **Introduction to Ryan Libowitz**:
Works for Cross Country Mortgage.
Background in banking since 2004, with experience in the mortgage industry for the past four years.
2. **Non-QM Products**:
Non-QM mortgages are designed for borrowers who struggle to meet the requirements of conventional loans.
Target market includes entrepreneurs and retirees, particularly those with unique income situations, such as independent contractors who file 1099s but have fluctuating income or substantial business expenses that reduce reported earnings.
3. **Entrepreneurs and Income Verification**:
Many entrepreneurs report lower income on tax returns due to business expenses, which may not accurately reflect their actual earnings.
With non-QM loans, lenders can utilize bank statements to verify income. For example, if a borrower has $500,000 in business revenue but shows only $23,558 in taxable income, lenders might consider bank deposits instead, allowing them to qualify for a larger loan.
This approach accommodates those who want a mortgage without having to disclose extensive taxable income.
4. **Interest Rates and Credit Requirements**:
CrossCountry’s ability to service Non QM loans in-house allow for competitive interest rates that make these viable purchasing options.
Borrowers still need to have reasonable credit scores, which are more stringent compared to FHA requirements, as the risk profile is typically higher.
5. **Flexibility for Different Income Sources**:
The document discusses how non-QM products can accommodate various forms of income, like 1099 income from contract work.
For example, if a truck driver earns $150,000 a year but writes off significant expenses, the lender can adjust the assessed income by applying a 10% expense factor to determine qualifying income.
Business owners who are S-corp or LLC can also consider their distributions or draws when applying for loans.
6. **Product Accessibility**:
Non-QM loans are crucial for those transitioning away from traditional employment or those currently in less active phases of their careers.
The discussion emphasizes the evolving mortgage lending landscape where flexibility is key for varied financial circumstances.
7. **Call to Action**:
A light-hearted comment made during the discussion calls for support and sponsorship to improve the production quality of content shared in such discussions.
In summary, Ryan Libowitz details how non-QM mortgages provide important financial tools for those with non-traditional income sources, enabling them to achieve home ownership without overly burdensome documentation. The ability to use bank statements and other innovative income verification methods represents a significant shift in accommodating modern borrowers' needs.#mortgagetip #nonqm #nonqmloans #realestateadvice
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