Wholesale
We know you want your clients to receive the best service, and that starts with the right financing program. Our wholesale offerings allow you to cater to a wide range of lending scenarios while receiving assistance from our knowledgeable brokers when you need it.Wholesale Products
Select Prime Full Doc
A great option for wage earners that require a bit more leniency than traditional agency/jumbo requirements allow. This Non-QM full doc solution is designed to solve for jumbo loan amounts, lower reserve requirements, higher DTI budgets, non-warrantable condos, or less seasoning time on recent credit events.
- PROGRAM DETAILS
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- + Up to 90% Max LTV
- + Loan Amounts: $125K–$3.5M+
- + Purchase, Rate and Term, Cash Out
- + OO, Second Homes, NOO
- + Min FICO Score of 640, Qualifying off Primary Wage Earner’s Middle Score
- + 1–2 Years Documentation
- + Less Seasoning on Recent Credit Events
- + U.S. Person, ITIN, Foreign Nationals (for Second Homes and Investment Occupancy)
Select Alt Doc
Helps self-employed borrowers determine the best documents to tell their financial story. This flexible option can utilize corporate bank statements, personal bank statements, 1099 tax forms, or profit and loss statements (with or without bank statements) to qualify.
- PROGRAM DETAILS
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- + Up to 90% Max LTV
- + Loan Amounts: $125K–$3.5M+
- + Purchase, Rate and Term, Cash Out
- + OO, Second Homes, NOO
- + Min FICO Score of 640, Qualifying off Primary Wage Earner’s Middle Score
- + 1–2 Years Bank Statements (Business or Personal) or 1099 or P&L With 2 Months Business Bank Statements or P&L Only (Overlays Applied)
- + Less Seasoning on Recent Credit Events
- + U.S. Person and ITIN
Asset Utilization / Depletion
This option allows a borrower to prove their loan qualification through a portfolio of substantial assets. Assets can stand alone or as a supplemental source to reduce DTI ratios. Great for clients who do not have qualifying proof of employment.
- PROGRAM DETAILS
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- + Up to 90% Max LTV
- + Loan Amounts: $125K–$3.5M
- + Purchase, Rate and Term, Cash Out
- + OO, Second Homes, NOO
- + Min FICO Score of 640, Qualifying off Primary Wage Earner’s Middle Score
- + Qualified Assets: 100% Credit of Checking, Savings, Money Market, 80% Stocks and Bonds, 60–70% of Retirement Accounts
- + Less Seasoning on Recent Credit Events
- + U.S. Person and ITIN
Investor DSCR 1-4 Units
A no-hassle solution for real estate investors financing one to four units. This option bases qualifications on the Debt Service Coverage Ratio (DSCR)—the property’s cash flow rather than the borrower’s income.
- PROGRAM DETAILS
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- + Up to 75% Max LTV
- + Loan Amounts: $150K–$3M+
- + Purchase, Rate and Term, Cash Out
- + Second Homes and NOO Business Purpose
- + Min FICO Score of 700 With Established U.S. Credit or Foreign Credit
- + 1–2 Years Documentation; Wage: 30 Days Pay Stubs (With YTD Info) and Either W-2 Equivalent or 2 Years Tax Returns or Letter From Employer; Self-Employed Documentation; Asset Utilization
- + 3 Years Seasoning From U.S. Credit Events
- + Foreign National
Investor DSCR 5-10 Units or 2-8 Mixed Use
Financing solutions for borrowers with 1+ years of recent experience in owning and managing either a commercial or residential real estate property. Income for both 5–10 all-residential and 2–8 mixed use properties are based on rents covering the mortgage payment.
- PROGRAM DETAILS
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- + Up to 75% Max LTV
- + Loan Amounts: $250K–$3M
- + Purchase, Rate and Term, Cash Out
- + NOO Business Purpose
- + Min FICO Score of 660, Qualifying off Lowest Middle Score of All Borrowers
- + 1:1 DSCR Only – Borrowers Must Have 1 Year of Recent Experience Owning and Managing Either a Commercial or Residential Real Estate in the Last 3 Years
- + LLC or Corporate Title Vesting at Closing Eligible With Natural Person
- + U.S. Persons and Foreign Nationals
No Ratio Investor
This program does not require income ratios of any kind for eligibility. Investment property financing is based on the following conditions: borrowers must meet credit and down payment (purchase) criteria OR loan-to-value (refinance) criteria.
- PROGRAM DETAILS
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- + Up to 65% Max LTV
- + Loan Amounts: $75K–$3M
- + Purchase, Rate and Term, Cash Out
- + NOO Business Purpose
- + Min FICO Score of 700, Qualifying off Lowest Middle Score of All Borrowers
- + Qualification Based on FICO and LTV Max 3 Years of Seasoning From a Recent Credit Event
- + 0x30x12 Late
- + LLC or Corporate Title Vesting at Closing Eligible With Natural Person
- + U.S. Persons
Foreign National Full Doc
Foreign nationals can utilize this program to acquire a second home or an investment property. This alternative documentation process allows borrowers to prove their qualifications and provide sources of income with translated documents.
- PROGRAM DETAILS
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- + Up to 75% Max LTV
- + Loan Amounts: $150K–$3M+
- + Purchase, Rate and Term, Cash Out
- + Second Homes and NOO Business Purpose
- + Min FICO Score of 700 With Established U.S. Credit or Foreign Credit
- + 1–2 Years Documentation; Wage: 30 Days Pay Stubs (With YTD Info) and Either W-2 Equivalent or 2 Years Tax Returns or Letter From Employer; Self-Employed Documentation; Asset Utilization
- + 3 Years Seasoning From U.S. Credit Events
- + Foreign National
Flex Select Prime Second Lien
For borrowers with a first lien, this offering provides the additional cash they may need without disrupting their first mortgage, or serve as a supplemental down payment solution for purchase transactions. Income qualifications are based on 2 years of full documentation or self-employed alt doc-type documentation.
- PROGRAM DETAILS
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- + Up to 85% Max CLTV
- + Loan Amounts: $125K–$500K
- + Purchase and Cash Out
- + OO and Second Homes
- + Min FICO Score of 680, Qualifying Off Primary Wage Earner’s Middle Score
- + 2 Years of Full Doc or 2 Years of Alt doc, Bank Statements (Business or Personal) or 1099 or P&L With 2 Months Business Bank Statements
- + 0x30x24 Mortgage Late
- + U.S. Person
2/1 Temporary Buydown
This strategy can be added to any of 3 programs: Select Prime Full Doc, Select Alt Doc, or Investor DSCR 1–4 Units. When combined with the 30-year note rate, this feature allows a borrower to ease into monthly payments. They will pay 2% less interest in their first year, 1% less in their second, and the actual note rate of interest starting on the third year.
- PROGRAM DETAILS
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- + Up to 80% Max LTV
- + Add-on Feature to Full Doc, Alt Doc or DSCR 1–4 Units Programs
- + Purchase Only
- + OO, Second Homes, NOO Business Purpose
- + Min FICO Score of 680
- Available on 30-Year Fixed-Term Only; Seller- or Builder-funded Only; Lender-Paid or Third Party Buydowns are Permitted for CORR Clients Only; Qualify off Full Payment (Note Rate)
- + Follows Program Requirements for Mortgage Lates and Recent Credit Events
- + U.S. Person and ITIN
2 Month Bank Statement
This option is a feature of the Select Alt Doc series that provides the flexibility a self-employed borrower may need without requiring extensive documentation. Instead, they can prove their income with a minimum of 2 months of corporate bank statements with a CPA or EA prepared profit and loss statement.
- PROGRAM DETAILS
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- + Up to 90% Max LTV
- + Loan Amounts: $125K–$3.5M
- + Purchase, Rate and Term, Cash Out
- + OO, Second Homes, NOO Business Purpose
- + Min FICO Score of 640; Qualifying off Primary Wage Earners Middle Score
- + Min 2 Months Bank Statement With 1+ Years of CPA/EA-Prepared P&L
- + Less Seasoning on Recent Credit Events
- + U.S. Person and ITIN
We're Always Here To Guide You
- How quickly can I close my loan?
- While every loan situation is unique, we know that timely closings make everyone happy. NQM Funding, LLC always strives to close their loans on time.
- Is my data secure?
- Your data, as well as that of your clients, is always protected with NQM Funding, LLC. We never share, sell, or distribute your information.
Calculators
1099 Income Calculator
Reports a buyer’s income as a means of securing a Non-QM loan, which can be helpful in the event that they cannot verify their income via tax returns.
2-1 Buydown Calculator
Calculates a borrower’s interest rate for the first two years of loan payment on a 2-1 buydown option.
Asset Utilization Calculator
Calculates how effectively and efficiently an organization uses its assets to bring in revenue and cut back costs.
Bank Statement Calculator
Determines a borrower’s monthly income and maximum home price, loan amount, and estimated closing costs based on provided bank statements.
DSCR Calculator
Measures whether a borrower’s cash flow is sufficient enough to generate an adequate return on their investment.
Profit and Loss Calculator
Demonstrates a borrower’s fiscal ability to make loan payments through the strength and viability of the borrower’s business.
Forms
Appraisal Transfer Form
Outlines the appraisal transfer requirements and documentation needed for completion and provides a form authorizing the transfer of an appraisal.
Business Narrative Form
Outlines the details of a borrower’s business. This must be completed in order to receive a bank statement analysis prior to submission.
Condo Questionnaire
Provides proof that a condominium unit and the development are in compliance with underwriting requirements.
Exception Request Form
Provides context for suboptimal borrowing situations. Must be submitted when a borrower does not meet a lender’s funding requirements..
Submission Checklist
Helps you keep track of client forms and documents required for submission so you can ensure a timely closing.
Policies
Appraisal Policy
Outlines the appraisal transfer requirements and documentation needed for completion and provides a form authorizing the transfer of an appraisal.
Wholesale Lock In Policy
Locks in a borrower’s lending rate so that it does not change between the time of the initial offer and closing.