When taking out any type of mortgage, it’s important to work with a lender you trust. Griffin Funding offers fair terms, competitive rates, and a team of Sr. Loan Officers who are ready to offer their help and support. Take a look at the Non-QM mortgage testimonials below to see how we’ve satisfied countless customers. Our Non-QM customer testimonials speak to the value of our mortgage products and the high level of attention and support we give to every borrower who works with us.

Non-QM Loans Available at Griffin Funding

Griffin Funding offers several Non-QM mortgage products that cater to different types of borrowers. Some of the Non-QM loans we currently offer include: 

    • Bank statement loans: Bank statement loans allow borrowers to bypass traditional income verification requirements. Rather, you can qualify for this loan by submitting as little as twelve months’ worth of bank statements.
    • DSCR loans: Debt service coverage ratio (DSCR) loans allow real estate investors to qualify for financing based on the cash flow of a rental property instead of providing proof of income.
    • Asset-based loans: This type of loan can be secured by various assets you own, including checking accounts, savings accounts, certificates of deposit (CDs), investment accounts, and more.
    • Interest-only loans: With an interest-only loan, you can lower your initial mortgage payments by only paying off the interest. After a set period of time, payments are recalculated and you will begin paying towards the principal amount.
    • Jumbo loans with 10% down: With as little as a 10% down payment, you can secure a loan amount of up to $3 million in order to buy high-value or commercial real estate.

Non-QM Customer Testimonials

So, now that you know a little bit more about Griffin Funding and the different types of Non-QM loans that are available, you may be wondering why you should use Griffin Funding as your lender. There are many reasons why Griffin Funding is an outstanding choice for future homeowners, but you can check out our Non-QM testimonials to find out more about the experiences that real customers have had when working with us: 

“I recently started getting into investment real estate in Montana. As a first-time real estate investor I didn’t know where to start so I reached out to Griffin Funding, and they recommended the DSCR loan. The entire process was very simple and seamless. I’m going to use them for my next investment property, and I’ve already referred several friends to them” – Stefan McKellar.

Frequently Asked Questions

What is a Non-QM loan? 

A non-qualified (Non-QM) mortgage is an umbrella term describing loans that do not conform to the standards that the Consumer Financial Protection Bureau (CFPB) sets for qualified mortgages. In other words, Non-QM loans are alternative financing methods that allow borrowers to secure a mortgage without having to get approved for a conventional home loan. 

While the qualification requirements and loan terms of Non-QM loans differ from those of conventional mortgages, Non-QM loans are similar to traditional loans in many respects. To secure a Non-QM loan, a potential borrower must submit an application to a lender, the lender provides an interest rate, the application must be approved, and the borrower receives funds and makes payments on a monthly basis. The amount of time a borrower has to pay back the money depends on the loan term length, which generally ranges from 15 to 40 years. 

Is it safe to take out a Non-QM loan? 

Yes, Non-QM loans are safe when used properly. While a Non-QM loan doesn’t have to meet the same standards as a qualified mortgage, lenders must still comply with relevant laws and requirements before issuing a Non-QM loan. At Griffin Funding, we take several different factors into account when reviewing applications and perform due diligence to ensure that borrowers qualify for the specific loan that they’re applying for. 

With that being said, Non-QM loans do carry certain risks that you should be aware of before taking one out. Make sure to thoroughly research the loan you’re applying for and weigh the potential benefits versus risks. If you would like to learn more about a particular Non-QM loan, we encourage you to contact us and we can walk you through what it entails. 

What are the benefits of taking out a Non-QM loan? 

Non-QM loans allow more people to qualify for mortgages because they have less stringent requirements than conventional home loans. In particular, many Non-QM loans allow borrowers to avoid verifying their income through tax returns and instead verify income through other means, whether it be bank statement, proof of assets, or existing cash flow. Overall, Non-QM loans offer borrowers a level of flexibility that traditional mortgages often don’t, and can thus make qualifying easier for real estate investors, those on a fixed income, or individuals with non-traditional income streams. 

Our Non-QM loan testimonials demonstrate the level of service we provide at Griffin Funding. However, our excellent customer service isn’t limited to Non-QM loans. Contact us today to learn how we can help you get a traditional mortgage, secure a USDA loan, or check your eligibility for VA loans.