Newrez Supports Non-Traditional Borrowers Through Signature Non-QM Products
Today’s competitive housing market, changing rates and shifting borrower trends are fueling the demand for such Non-QM loan products, with Smart Series recently surpassing the milestone of
“Our Smart Series loan products were created with the non-traditional customer in mind – someone who is self-employed, someone who falls just outside of qualifications of a jumbo loan due to a recent credit event or someone seeking an investment property – all otherwise credit-worthy borrowers who just don’t fit the mold of a traditional buyer,” said
The Smart Series suite is comprised of three Non-QM loan products:
- SmartSelf is a product that is ideal for self-employed borrowers requiring the use of bank statements and/or asset amortization to qualify. This loan type continues to grow in popularity, now comprising more than 55 percent of the Company’s total Non-QM production.
- SmartEdge is a product that offers competitive financing solutions for borrowers who fall just outside of standard agency and prime jumbo programs due to a credit event or other isolated lapse in their credit performance.
- SmartVest is a product that is designed for experienced real estate investors seeking to purchase or refinance an investment property that is owned for business purposes
For more information on Newrez’s Smart Series and other home loan offerings, visit https://www.newrez.com/blog/mortgage-101/smart-series-non-qualified-mortgages/.
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