Not every homebuyer earns income through a W-2 paycheck. Self-employed professionals, freelancers, real estate investors, small business owners, and gig economy workers across Virginia—from Richmond to Virginia Beach—often have strong finances but struggle to qualify through conventional mortgage channels.
A non traditional mortgage is any home loan that uses alternative documentation, flexible underwriting criteria, or non-standard income verification to help qualified borrowers secure financing. These programs are legal, regulated products governed by federal guidelines—they simply use different underwriting methods than conventional loans. Since the Consumer Financial Protection Bureau (CFPB) established Qualified Mortgage (QM) standards under the Dodd-Frank Act, the “non-QM” category has grown into a sophisticated suite of products serving creditworthy borrowers who simply earn or document income differently.
This guide walks through seven distinct non traditional mortgage strategies available to borrowers in Virginia, Florida, Tennessee, and Georgia. Each strategy addresses a specific borrower scenario, explains how it works, and includes breakeven math so you can evaluate real costs. We also compare how different lenders approach these products—and why access to hundreds of lenders matters more in the non-QM space than almost anywhere else in lending.
Whether you’re buying in Chesterfield, refinancing in Fredericksburg, or investing in Chesapeake, understanding these options puts you in control. And with NoTouch Credit from Rate Friendly, you can explore all of them without a single point of impact to your credit score.
Author: Duane Buziak, Mortgage Maestro, NMLS#1110647
1. Bank Statement Loans: Qualifying on Cash Flow, Not Tax Returns
The Challenge It Solves
Self-employed borrowers in Virginia—from Richmond-area consultants to Charlottesville contractors—often write off significant business expenses, which reduces their Adjusted Gross Income (AGI) on tax returns. That reduced AGI is exactly what conventional lenders use to qualify borrowers, creating a frustrating paradox: the more tax-efficient your business, the harder it becomes to get a mortgage through traditional channels.
The Strategy Explained
Bank statement loans bypass tax returns entirely. Instead, lenders analyze 12 to 24 months of personal or business bank deposits to establish your effective income. Most lenders apply an expense ratio—commonly between 40% and 50% for business accounts—to arrive at a qualifying income figure. Personal bank statement programs often use a higher percentage of deposits as income.
Think of it like this: if your business account shows $20,000 in average monthly deposits and the lender applies a 50% expense ratio, your qualifying income is $10,000 per month. That’s $120,000 annually—potentially far more than what your tax return reflects after deductions.
Implementation Steps
1. Gather 12-24 months of bank statements for both personal and business accounts. Consistency in deposits strengthens your file.
2. Understand your expense ratio. Ask each lender what ratio they apply—this single number dramatically affects your qualifying income. Different wholesale lenders use different ratios, which is why shopping multiple lenders matters.
3. Check your credit profile. Bank statement loans typically require a minimum credit score in the 620-680 range depending on the lender, with better rates available above 700. Use a NoTouch Credit soft pull to know where you stand before applying anywhere.
4. Compare lenders across the wholesale market. Large retail lenders like Rocket Mortgage and Movement Mortgage primarily focus on conventional, FHA, VA, and USDA products. Bank statement programs are more commonly available through mortgage brokers with access to wholesale non-QM lenders—giving Rate Friendly a structural advantage here.
Breakeven Math (Hypothetical Illustration)
Suppose you’re buying a $450,000 home in Glen Allen with 20% down ($90,000). Your loan amount is $360,000.
Bank Statement Loan (estimated rate: 7.75%): Monthly principal and interest = approximately $2,579
Conventional 30-year (estimated rate: 6.75%, if you could qualify): Monthly principal and interest = approximately $2,335
Monthly difference: approximately $244
If you refinance to a conventional loan in 24 months once your income documentation improves, your total premium paid is approximately $5,856. That’s the cost of accessing homeownership now rather than waiting—a math equation many borrowers find favorable. Actual rates vary by credit score, LTV, and lender.
Pro Tips
Avoid commingling personal and business deposits in the same account—it creates documentation headaches. Keep statements clean and consistent. Also, ask your lender whether they use 12 or 24 months; some programs allow 12-month qualification, which works in your favor if recent months show stronger cash flow than older ones. For a broader look at documentation-light programs, explore our guide to getting a mortgage without a W-2 in Virginia.
2. Asset Depletion Mortgages: Turning Wealth Into Qualifying Income
The Challenge It Solves
High-net-worth individuals and retirees in places like Goochland, Lake Anna, or Williamsburg often hold substantial liquid assets but draw limited regular income. A retired executive with $2 million in a brokerage account and $3,000 per month in Social Security may struggle to qualify for a $600,000 mortgage under conventional income guidelines—despite having the financial strength to easily service the debt.
The Strategy Explained
Asset depletion (also called asset dissipation) is a method where a lender converts your eligible liquid assets into a hypothetical monthly income stream for qualification purposes. The general formula: take your eligible assets, subtract any down payment and closing costs, then divide the remainder by the loan term in months.
For example: $1,500,000 in eligible assets divided by 360 months (30-year term) = $4,167 per month in imputed income. Combined with other income sources, this can make qualification achievable without requiring employment income.
Implementation Steps
1. Identify eligible assets. Most programs accept checking, savings, money market accounts, and brokerage accounts. Retirement accounts (IRAs, 401(k)s) are often included at a discounted value—commonly 60-70% of the balance—to account for early withdrawal penalties and taxes.
2. Document asset ownership clearly. Lenders require 2-3 months of statements showing the assets are in your name and have been seasoned (typically 60 days).
3. Understand the lender’s formula. Different non-QM lenders apply different asset depletion formulas. Some are more generous with retirement account discounts; others allow shorter depletion periods. Shopping multiple lenders through a broker like Rate Friendly can meaningfully change your qualifying income figure—our guide to finding the best non-QM lenders explains how to evaluate these differences.
4. Combine with other income sources. Social Security, pension income, rental income, and dividend income can all stack with asset depletion income to strengthen your overall qualification profile.
Breakeven Math (Hypothetical Illustration)
Buying a $700,000 property in Albemarle County with 30% down ($210,000). Loan amount: $490,000.
Asset depletion non-QM loan (estimated rate: 8.00%): Monthly P&I = approximately $3,597
Conventional loan (estimated rate: 6.75%, if qualifying income was sufficient): Monthly P&I = approximately $3,178
Monthly premium: approximately $419
If you refinance to a conventional loan in 36 months as income documentation evolves, total premium paid is approximately $15,084. Weighed against the alternative of liquidating assets or waiting indefinitely to purchase, many buyers in this profile find this cost reasonable. These are illustrative numbers only—actual rates and payments will vary.
Pro Tips
Don’t move large sums between accounts in the 60 days before application. Unexplained large deposits create documentation requirements that slow underwriting. Keep your asset picture stable and well-documented before you start the process.
3. DSCR Loans for Investment Properties: Let the Property Qualify Itself
The Challenge It Solves
Real estate investors in Hampton Roads, Chesapeake, and the Richmond metro often own multiple properties and have complex personal income pictures. Conventional investment property loans require personal income verification, debt-to-income calculations across all properties, and tax returns that may show paper losses from depreciation—making qualification increasingly difficult as a portfolio grows.
The Strategy Explained
Debt Service Coverage Ratio (DSCR) loans qualify the borrower based entirely on the property’s income potential—not personal income. The DSCR is calculated by dividing the property’s gross monthly rental income by the total monthly mortgage payment (principal, interest, taxes, insurance, and HOA if applicable).
DSCR = Monthly Rental Income ÷ Monthly PITIA
A DSCR of 1.0 means the rental income exactly covers the mortgage payment. Most lenders prefer a DSCR of 1.0 to 1.25 or higher. Some programs allow DSCRs below 1.0 (called “no-ratio” loans) with larger down payments or stronger credit.
For more detail on DSCR loan mechanics, the CFPB provides background on alternative mortgage products at consumerfinance.gov.
Implementation Steps
1. Establish the market rent. Lenders typically require a lease agreement showing current rent or an appraisal with a market rent schedule (Form 1007 or 1025). Use the lower of the lease rent or appraised market rent.
2. Calculate your DSCR before applying. Estimate your monthly PITIA at current rates, then divide your expected rental income by that number. If you’re at or above 1.0, you’re likely in range for most programs.
3. Optimize your down payment. DSCR loans typically require 20-25% down for single-family investment properties. A larger down payment reduces your monthly payment, which improves your DSCR and your rate.
4. Shop rate aggressively. DSCR pricing varies significantly across wholesale lenders. A 0.25% rate difference on a $400,000 investment property loan changes your monthly payment by roughly $65-70, which directly affects your DSCR calculation and your cash-on-cash return. Our guide to investment property financing covers additional strategies for optimizing your approach.
Breakeven Math (Hypothetical Illustration)
Purchasing a rental property in Newport News for $325,000 with 25% down ($81,250). Loan amount: $243,750. Market rent: $2,100/month.
Estimated PITIA at 8.25% rate: approximately $1,900/month
DSCR: $2,100 ÷ $1,900 = 1.10 (acceptable for most DSCR lenders)
Monthly cash flow before maintenance/vacancy: approximately $200
This illustrates why rate matters so much in DSCR loans—a higher rate compresses cash flow and can push DSCR below lender minimums. Shopping lenders through a broker with wholesale access is not just about savings; it can be the difference between qualifying and not qualifying. All figures are illustrative only.
Pro Tips
Short-term rental income (Airbnb, VRBO) is handled differently across lenders—some accept it, some don’t. If you’re running a short-term rental in a Virginia Beach vacation market, confirm upfront whether the lender will use that income stream before investing time in the application.
4. Non-QM Interest-Only Strategies: Managing Cash Flow With Precision
The Challenge It Solves
Business owners and investors in Virginia—particularly those managing seasonal cash flow or reinvesting heavily into growing businesses—sometimes need to minimize housing payments during a specific window. A conventional fully-amortizing mortgage doesn’t offer that flexibility. Interest-only periods address this directly by allowing borrowers to pay only the interest portion for a defined term, typically five to ten years.
The Strategy Explained
A non-QM interest-only loan allows the borrower to pay only interest for an initial period (commonly 5 or 10 years), after which the loan converts to a fully amortizing payment for the remaining term. The qualification is typically based on the fully amortized payment—so you qualify at the higher payment but benefit from lower cash outflow during the interest-only period.
This is not the same as negative amortization. Your balance doesn’t grow—you’re simply deferring principal repayment. Think of it as a deliberate cash flow tool, not a shortcut. Borrowers exploring this approach should also understand how no doc mortgage programs differ in their documentation requirements.
Implementation Steps
1. Clarify your use case. Interest-only makes the most sense when you have a specific plan for the freed cash flow—business reinvestment, portfolio building, or bridging a defined income transition period. Without a plan, the deferred principal creates risk.
2. Understand the payment cliff. After the interest-only period ends, your payment increases to cover both principal and interest on the remaining balance over the remaining term. Model this payment before committing.
3. Qualify at the fully amortized rate. Most non-QM lenders require you to qualify at the fully amortized payment, not the interest-only payment. This protects you from payment shock and ensures the lender is underwriting responsibly.
4. Plan your exit. Many borrowers use interest-only non-QM loans as a bridge: they buy now, manage cash flow during the interest-only period, and refinance to a conventional product once income documentation is stronger or rates improve.
Breakeven Math (Hypothetical Illustration)
Loan amount: $500,000 at 8.50% on a 30-year term with a 10-year interest-only period.
Interest-only monthly payment (years 1-10): approximately $3,542
Fully amortizing payment (years 11-30, 20-year payoff): approximately $4,340
Monthly savings during interest-only period vs. full amortization from day one: approximately $798
Total cash flow preserved over 10 years: approximately $95,760
If that capital is reinvested into a business generating meaningful returns, the math can be compelling. If it’s simply spent without a plan, the deferred principal creates a payment increase that catches borrowers off guard. These figures are illustrative only.
Pro Tips
Interest-only non-QM loans are not widely available through large retail lenders. This is another area where wholesale broker access matters—Rate Friendly’s network of hundreds of lenders includes wholesale non-QM partners that offer these programs where retail channels typically don’t.
5. 1099-Only Qualification: Gross Income for Contract Workers
The Challenge It Solves
Independent contractors, freelancers, and gig economy workers across Virginia—from Fredericksburg to Stafford to Prince William County—often receive 1099 income but file tax returns that reflect significant business deductions. The result is a tax return that understates their actual earning power, creating the same qualification problem as self-employed borrowers but through a slightly different documentation path.
The Strategy Explained
1099-only mortgage programs allow borrowers to use their 1099 forms directly as income documentation instead of tax returns. The key advantage: 1099 income reflects gross earnings before deductions, giving a much more accurate picture of a contractor’s actual cash flow. Most programs accept 1 to 2 years of 1099 forms and average the income across that period.
This differs from a bank statement loan in that you’re using IRS-issued income documents rather than bank records—which some lenders and underwriters find more straightforward to verify. For borrowers who want to understand how this compares to other documentation-light approaches, our guide to stated income mortgages provides additional context.
Implementation Steps
1. Compile 1-2 years of 1099 forms from all clients and income sources. Consistency across years strengthens the file. A significant drop in income from year one to year two will typically result in the lender using the lower year or averaging, depending on their guidelines.
2. Confirm the lender uses gross 1099 income. Some programs average 1099 income; others use the most recent year. Ask explicitly whether they’re using gross 1099 income or whether they’re still referencing your Schedule C—the answer changes your qualifying income dramatically.
3. Document your contractor relationship. Lenders may ask for a letter from your primary clients confirming the ongoing nature of the work relationship, or a CPA letter verifying self-employment. This helps establish income stability, which is a key underwriting concern.
4. Understand the rate premium. Non-QM loans, including 1099 programs, typically carry rates 0.50% to 2.00% or more above conventional mortgage rates, depending on credit score, LTV, and documentation strength. This is a general industry observation—your specific rate depends on your complete profile and which lenders you access.
Breakeven Math (Hypothetical Illustration)
Home purchase in Spotsylvania County: $375,000 purchase price, 20% down ($75,000). Loan amount: $300,000.
1099 non-QM loan (estimated rate: 7.875%): Monthly P&I = approximately $2,175
Conventional loan (estimated rate: 6.875%, if qualifying income was sufficient): Monthly P&I = approximately $1,972
Monthly premium: approximately $203
Breakeven on refinancing costs: If you refinance to conventional in 30 months at a $4,500 closing cost, your total premium paid is approximately $6,090. The refinancing cost of $4,500 means you’d need approximately 22 months of savings post-refinance at $203/month to break even on the refi itself. All figures are hypothetical illustrations only.
Pro Tips
If you receive income from multiple 1099 sources, organize them clearly before application. Lenders want to see a consistent, verifiable income picture—not a patchwork of small 1099s from dozens of sources. Consolidating your primary income sources into a clean documentation package speeds up underwriting significantly.
6. Non-Traditional Cash-Out Refinance: Unlocking Equity Without W-2 Income
The Challenge It Solves
Virginia homeowners who originally financed with a non-QM product—or who have built significant equity but can’t document income conventionally—often find themselves locked out of cash-out refinancing through traditional channels. Conventional cash-out guidelines require full income documentation, and with standard programs capping cash-out at 80% LTV, the options feel limited. Non-traditional cash-out refinance programs solve both problems.
The Strategy Explained
Non-QM cash-out refinance programs allow borrowers to access home equity using the same alternative documentation methods as purchase loans: bank statements, 1099s, asset depletion, or DSCR for investment properties. Rate Friendly offers access to cash-out refinance programs up to 90% LTV—significantly above the conventional 80% ceiling—for borrowers who qualify through non-traditional documentation methods.
This is particularly powerful for self-employed homeowners in markets like Midlothian, Hanover, or Henrico County, where property values have appreciated meaningfully and equity has accumulated even on properties purchased relatively recently.
Implementation Steps
1. Establish your current equity position. Get a rough property value estimate before starting. Your LTV (loan-to-value ratio) is your new loan amount divided by the appraised value. At 90% LTV on a $500,000 home, you could access up to $450,000 in total financing—meaning up to $170,000 in cash out if your current balance is $280,000.
2. Choose your documentation method. Match your documentation approach to your income situation: bank statements for self-employed, 1099s for contractors, asset depletion for retirees, DSCR if the property is a rental. Your documentation type affects both your qualifying income and your rate.
3. Calculate the full cost of the refinance. Cash-out refinances replace your existing loan entirely. If your current rate is lower than the new non-QM rate, model the full payment impact—not just the cash you receive. Our refinance rates comparison guide can help you evaluate whether the numbers work in your favor.
4. Evaluate the use of funds. Non-QM cash-out refinances make the most sense when the funds are used productively: paying off higher-interest debt, investing in a business, funding a down payment on an investment property, or completing renovations that increase the property’s value.
Breakeven Math (Hypothetical Illustration)
Current mortgage balance: $280,000 at 5.50% (30-year, remaining balance). Property value: $550,000. Desired cash out: $175,000. New loan amount: $455,000 (82.7% LTV).
Current monthly P&I: approximately $1,703 (on remaining balance at original rate)
New non-QM cash-out loan at 8.25%, 30-year: Monthly P&I = approximately $3,421
Monthly payment increase: approximately $1,718
If the $175,000 in cash is used to pay off $175,000 in credit card and business debt carrying 18-24% interest, the monthly savings on that debt could easily exceed $3,000-4,000—making the mortgage payment increase financially rational. Context and use of funds determine whether this strategy makes sense. These are illustrative numbers only.
Pro Tips
The 90% LTV cash-out option is not available through most retail lenders. Rocket Mortgage, Penny Mac, and Freedom Mortgage primarily operate within conventional guidelines, which cap cash-out at 80% LTV. Accessing the 90% LTV tier requires wholesale non-QM lender access—which is where broker relationships matter.
7. Recent Credit Event Programs: Shorter Waiting Periods, Faster Return to Homeownership
The Challenge It Solves
Life happens. Divorce, medical events, business failures, and economic disruptions can leave otherwise creditworthy borrowers with a bankruptcy, foreclosure, or short sale on their record. Conventional mortgage guidelines established by Fannie Mae and Freddie Mac impose significant waiting periods: typically four years after a Chapter 7 bankruptcy, seven years after a foreclosure, and four years after a short sale (with some exceptions). For many Virginia borrowers, those timelines feel impossibly long.
The Strategy Explained
Non-QM recent credit event programs reduce or eliminate these waiting periods entirely for borrowers who demonstrate financial recovery and present compensating factors. Some programs allow borrowers to apply as soon as one day after a bankruptcy discharge or foreclosure completion—though rates and down payment requirements reflect the elevated risk profile.
More practically, many non-QM lenders offer meaningful rate and term improvements at the 12-month and 24-month marks post-event, recognizing that demonstrated recovery is the most relevant underwriting factor. For detailed information on conventional waiting period guidelines, Fannie Mae publishes its selling guide at fanniemae.com.
Implementation Steps
1. Document the credit event clearly. Lenders want to see the discharge papers (bankruptcy), the sheriff’s deed or trustee’s deed (foreclosure), or the HUD-1 settlement statement (short sale). Clean documentation of the event—and its resolution—is essential.
2. Rebuild your credit profile aggressively. Open 2-3 new credit accounts post-event, keep utilization below 30%, and pay on time consistently. Many non-QM lenders require a minimum of 2-3 re-established tradelines. The VantageScore 4.0 used in Rate Friendly’s NoTouch Credit check gives you a real-time read on where your score stands without impacting it. Borrowers unsure about their credit standing may also benefit from understanding no credit check mortgage options and how soft-pull technology works.
3. Accumulate a meaningful down payment. Recent credit event programs typically require 10-20% or more down, depending on the event type and time elapsed. A larger down payment signals financial recovery and reduces lender risk—which also improves your rate.
4. Document compensating factors. Stable employment (or documented self-employment income), strong reserves, and a clear explanation of the credit event with evidence it was situational rather than habitual are all compensating factors that lenders weigh heavily in these programs.
Breakeven Math (Hypothetical Illustration)
Buying in Lynchburg, Virginia: $285,000 purchase price, 15% down ($42,750). Loan amount: $242,250.
Recent credit event non-QM loan (estimated rate: 9.50%, 12 months post-bankruptcy): Monthly P&I = approximately $2,038
Conventional loan (estimated rate: 6.875%, available in 4 years): Monthly P&I = approximately $1,592
Monthly premium: approximately $446
Total premium over 36 months before refinancing: approximately $16,056
The question isn’t whether the non-QM rate is higher—it clearly is. The question is: what is the value of owning your home now, building equity, and establishing stability versus waiting four years? For many borrowers, particularly those with children in school, local community ties, or rising home prices in their target market, the math favors acting now and refinancing when eligible. All figures are illustrative only.
Pro Tips
Write a clear, factual hardship letter explaining the credit event. Keep it brief, factual, and forward-looking. Underwriters respond to documented situational causes—a medical event, a business closure tied to a specific economic disruption—rather than vague explanations. A good hardship letter paired with strong compensating factors can meaningfully improve your approval odds and rate.
Putting It All Together: Choosing Your Non Traditional Mortgage Path
Seven strategies, seven borrower scenarios. Here’s a quick-reference table to match your situation to the right approach:
Self-employed with strong deposits but low AGI: Bank Statement Loan
High-net-worth retiree or investor with limited current income: Asset Depletion Mortgage
Real estate investor qualifying on rental income: DSCR Loan
Business owner managing cash flow during growth phase: Interest-Only Non-QM
Independent contractor or freelancer with 1099 income: 1099-Only Qualification
Homeowner with equity needing cash, non-conventional income: Non-Traditional Cash-Out Refinance
Borrower recovering from bankruptcy, foreclosure, or short sale: Recent Credit Event Program
The single most important thing to understand about non traditional mortgages is that pricing and availability vary dramatically across lenders. Most large retail lenders—including Rocket Mortgage, Movement Mortgage, Fairway Independent Mortgage, Veterans United, and Freedom Mortgage—primarily focus on conventional, FHA, VA, and USDA products. Non-QM programs live in the wholesale market, and accessing that market requires a broker relationship with hundreds of lenders, not a single retail channel.
That’s the structural advantage Rate Friendly brings to every non-QM borrower: access to hundreds of lenders, including wholesale non-QM partners, compared through a single process. And with NoTouch Credit powered by VantageScore 4.0, you can explore all of these options without a single hard inquiry hitting your credit report.
Ready to find out which strategy fits your situation? Learn more about our services at RateFriendly.com and start your NoTouch Credit consultation today.
Frequently Asked Questions: Non Traditional Mortgages
What is a non traditional mortgage?
A non traditional mortgage—also called a non-QM (Non-Qualified Mortgage) loan—is a home loan that does not meet the Consumer Financial Protection Bureau’s Qualified Mortgage standards established under the Dodd-Frank Act. These are legal, regulated products that use alternative underwriting methods such as bank statements, 1099 forms, asset depletion, or DSCR to qualify borrowers who don’t fit conventional income documentation requirements. Learn more about QM standards at consumerfinance.gov.
Who qualifies for a non-QM loan?
Non-QM loans are designed for borrowers with strong financial profiles who simply document income differently than a traditional W-2 employee. Common candidates include self-employed business owners, independent contractors, real estate investors, high-net-worth retirees, and borrowers recovering from a past credit event. Credit score minimums, down payment requirements, and documentation standards vary by program and lender.
Are non traditional mortgage rates higher than conventional rates?
Generally, yes. Non-QM loans typically carry higher interest rates than conventional mortgages, often ranging from 0.50% to 2.00% or more above conventional rates depending on the program type, LTV, credit score, and documentation method. This rate premium reflects the additional underwriting complexity and the lender’s risk assessment. Many borrowers refinance into conventional loans once their income documentation strengthens or after a waiting period expires.
Can I refinance from a non-QM loan to a conventional loan?
Yes. Many borrowers use non-QM loans as a bridge strategy—they purchase or refinance now using alternative documentation, then transition to a conventional loan when they qualify. Common trigger points include two years of consistent tax return income after starting a business, the expiration of a conventional waiting period after a credit event, or a significant improvement in credit score. Planning your exit strategy before you enter the non-QM loan is strongly recommended.
Is a non traditional mortgage available in Virginia?
Yes. Non-QM mortgage products are available throughout Virginia, including Richmond, Chesterfield, Midlothian, Henrico, Hanover, Fredericksburg, Spotsylvania, Stafford, Charlottesville, Hampton Roads, Virginia Beach, Newport News, Chesapeake, Roanoke, Lynchburg, and surrounding areas. Rate Friendly is licensed in Virginia, Florida, Tennessee, and Georgia. Non-QM availability depends on the specific program, borrower qualifications, and lender access—which is why shopping multiple lenders through a wholesale broker matters.
How does NoTouch Credit work?
NoTouch Credit uses VantageScore 4.0 to check your credit profile through a soft pull—meaning it does not appear as a hard inquiry on your credit report and does not affect your credit score. This allows you to explore non traditional mortgage options, compare programs, and understand your qualification profile without any credit score impact. It’s the starting point for any Rate Friendly consultation.
Legal Disclaimer: Rates and terms vary by lender, borrower qualifications, and market conditions. All rate and payment examples in this article are hypothetical illustrations for educational purposes only and do not represent a commitment to lend, a loan approval, or a rate quote. This content is educational, not advertising. Programs, rates, and availability are subject to change without notice. Not all borrowers will qualify. Equal Housing Lender. Licensed in VA, FL, TN, and GA. NMLS#1110647. For current rates and program availability, contact a licensed mortgage professional.
Author: Duane Buziak, Mortgage Maestro, NMLS#1110647