Carlos Scarpero from Edge Home Finance is a full service mortgage broker specializing in VA Mortgage Loans and Non QM Loans. www.Scarpero.com NMLS #1674385
Carlos is the author of the Amazon bestselling book VA Loans Made Easy, This book shows veterans step by step exactly what needs to be done to get a VA home loan. More info at www.Scarpero.com/book
Carlos has all the VA mortgage programs including VA purchase, VA IRRRL streamline refinance, VA multi family, VA renovation and VA one time close construction loans.
Does your business have a lot of tax write offs? If so you may be a good candidate for one of our Non QM programs. Non QM is an alternative mortgage lending product for small business owners that have too many tax deductions to qualify for a conventional mortgage.
Here are some of the programs that we offer.
Bank Statement Mortgage Loans
Bank statement loans are for self employed borrowers who have a lot of tax deductions. The underwriter uses the bank statements to qualify the income instead of using tax returns. Either 12 or 24 months of bank statements will need to be provided to determine the qualifying income.
DSCR (or debt service coverage ratio) loans are for real estate rental property owners. These mortgages use the rental property cashflow to determine the qualifying income. If the property is vacant, a rental appraisal estimate can be used to determine qualifying income.
Fix and Flip Mortgage Loans
Fix and flp loans are short term loans for real estate investors to rehab properties. These mortgages are typically short term and need to be repaid within a year. Interest only payments are available during the rehab period.
1099 only mortgage loans are for self employed contractors paid on 1099 who have a lot of tax deductions. Instead of a tax return, the 1099 is used for qualifying income.
Asset Qualifier Mortgage Loans
Asset qualifier mortgage loans (also known as an asset based or asset depletion mortgage) use the amount of assets as the means of qualifying. No additional income requirements.
P and L Only Mortgage Loans
P and L Only mortgages (also called lite doc mortgages) are for self employed people who do not have current tax returns on file. A certified profit and loss statement from an accountant is used instead to qualify.
Alt A mortgage loans (also called near miss programs) are for people that are close to qualifying for a traditional mortgage but for some reason cannot qualify credit wise.
Stated Income Mortgage Loans
Stated income mortgages (also called community mortgages) are for people with hard to prove income. Existing assets and strong credit history are used to qualify instead.
All In One Mortgage Loans
The All In One mortgage loan (also known as an offset mortgage) is an innovative portfolio program from CMG Financial. It uses a home equity line of credit tied to a zero balance checking account to help homeowners pay off their house a lot faster by using excess cash to reduce mortgage interest.
Bankruptcy and Foreclosure Loans
Bankruptcy and foreclosure loans are a Non QM mortgage program for people trying to buy a home or refinance after a bankruptcy or foreclosure but do not meet the minimum waiting period to qualify.
Non Warrantable Condo Loans
Non warrantable condo loans are Non QM mortgage loans where the condo complex cannot get approved for traditional mortgage financing. Condotels (condos that act like a hotel) also fall into this category.
Cannabis loans are Non QM mortgage loans for pot shop owners that cannot get traditional mortgage financing due to involvement in the marijuana industry. Note: The rules are different for employees of pot shops. They can obtain a traditional mortgage loan.
Mixed use loans are a Non QM mortgage program for people trying to buy a property that has both a residence and a commercial structure on the same parcel. Multiple structures are allowed on this program.
Jumbo loans are mortgage loans that exceed the current limit for conventional mortgage financing.
Bridge loans are a short term mortgage loan for people trying to buy a new home before the old home gets sold. The bridge is needed if the equity from the departing residence is needed for the down payment or if the debt ratio is too high to qualify for both mortgages. We offer both traditional bridge loans as well as the proprietary Buy Before You Sell program.