And according to the MBA’s Builder Application Survey, the average new home loan size reached over $412,000 in October, a record for the survey. Fix and flip loans offer borrowers the ability to renovate and rehab older homes to make them more appealing to homebuyers once they’re placed back on the market.Īdditionally, home prices are up nationwide, with home-price growth reaching a record high earlier this year. is short somewhere between 4 and 5 million homes, so the fix and flip market is here to stay,” Lind said. New construction has been hit hard by supply chain disruptions and materials and labor shortages, and inventory of existing homes is tight. The housing supply constraints on the market also open up a few opportunities for non-QM growth. that were picking up the low-hanging fruit on agency loans, are going to need another product to focus on, and that’s non-QM.” Lind said. Purchase mortgage originations in total are expected to grow 9% to a new record of $1.73 trillion in 2022, according to the Mortgage Bankers Association – non-QM will be part of that, of course.Īt the same time, however, the MBA’s outlook for next year included an anticipated 62% decrease in refinance originations, down to $860 billion from $2.26 trillion.Īccording to Lind, the decline in refinances is, “a tailwind for non-QM.” There are a few market factors contributing to this expected growth for the non-QM sector. “The amount of equity in these loans, the underwriting, the guardrails around ATR have proven that this is a real, sustainable product that investors like.”
“There is a bigger consensus of confidence in the product now,” said Keith Lind, executive chairman and president of Acra Lending. With the launch of its non-QM mortgage program, LBC Mortgage is now able to serve even more borrowers and help them achieve their homeownership and investment goals.įor more information about LBC Mortgage and its non-QM mortgage program, visit or call (818) 309-2999.įor inquiries or corrections to Press Releases, please reach out to EIN Presswire.As we look forward to 2022, the non-QM market is predicted to grow substantially. The company offers a wide range of mortgage products, including conventional loans, FHA loans, VA loans, and jumbo loans. LBC Mortgage is a leading mortgage lender in California, with a team of experienced mortgage professionals who are dedicated to providing exceptional service to their customers. We are committed to providing our customers with the best possible lending experience and helping them achieve their financial goals." "Our non-QM program is designed to meet the needs of borrowers who may not qualify for traditional loans, and our DSCR mortgage program is ideal for investors who want to finance rental properties. "We are excited to offer our non-QM mortgage program to borrowers in California and DSCR across the country," said Alex Shekhtman, CEO of LBC Mortgage. With the DSCR mortgage program, borrowers can use the income generated by the property to qualify for the loan, making it easier to finance rental properties. This program is ideal for investors who have multiple rental properties or who are purchasing a property with multiple units. The Debt Service Coverage Ratio (DSCR) mortgage program is a unique product that allows investors to qualify for a loan based on the property's cash flow rather than their personal income. The company also offers a DSCR loans in California and nationwide, which is designed for investors who want to purchase rental properties. LBC Mortgage offers a variety of non-QM loan products, including bank statement loans, asset-based loans, interest-only loans, and jumbo loans. The program is also designed for investors who want to purchase properties for rental or investment purposes. The LBC Mortgage non-QM program is designed to meet the needs of borrowers who have unique financial situations, including those who are self-employed or have irregular income, those who have significant assets but lack regular income, and those who have experienced a recent credit event such as a foreclosure or bankruptcy.
The non-QM program includes loans that are not backed by government-sponsored entities, such as Fannie Mae and Freddie Mac, and are instead originated and funded by private lenders. This program offers a wide range of non-QM mortgage products to consumers who do not meet the stringent requirements of conventional loans. Alex ShekhtmanLOS ANGELES, CALIFORNIA, USA, Febru/ / - LBC Mortgage is proud to announce the launch of its non-qualified mortgage (Non-QM) lending program in California and DSCR nationwide.
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