Loan Products Offered
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+Non-QM FIRST Loan Programs
- All FICO scores
- No FICO scores
- Non-traditional income
- Borrower(s) with new job(s)
- Borrowers relying on Asset Depletion Income
- Borrower(s) with a New Career
- Previous foreclosure or bankruptcy
- Inherited Properties with cash out
- Unseasoned ownership with cash out
- Open Collection or Charge Off accounts the consumer is unwilling to pay off
- Non-occupant Co-borrower(s) needed to qualify
- Unsecured Co-borrower(s) needed to qualify (signing Note but not Deed)
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+Non-QM SECOND Loans (stand-alone seconds)
- All FICO scores
- No FICO scores
- Non-traditional income
- Borrower(s) with new job(s)
- Borrowers relying on Asset Depletion Income
- Borrower(s) with a New Career
- Previous foreclosure or bankruptcy
- Inherited Properties with cash out
- Unseasoned ownership with cash out
- Open Collection or Charge Off accounts the consumer is unwilling to pay off
- Non-occupant Co-borrower(s) needed to qualify
- Unsecured Co-borrower(s) needed to qualify (signing Note but not Deed)
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+Non-QM THIRD Loans (stand-alone loans in 3rd position)
- All FICO scores
- No FICO scores
- Non-traditional income
- Borrower(s) with new job(s)
- Borrowers relying on Asset Depletion Income
- Borrower(s) with a New Career
- Previous foreclosure or bankruptcy
- Inherited Properties with cash out
- Unseasoned ownership with cash out
- Open Collection or Charge Off accounts the consumer is unwilling to pay off
- Non-occupant Co-borrower(s) needed to qualify
- Unsecured Co-borrower(s) needed to qualify (signing Note but not Deed)
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+Cash Out Owner-Occupied Non-QM Purchases
- Non-Arms-Length with a gift of equity. Rose Financial will use the property value, NOT THE PURCHASE PRICE, for qualifying borrower! This allows the opportunity to obtain financing to pay off consumer debts in order to qualify for the loan. Not a typical transaction, but they are out there!
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+Rescue Financing
- Purchase Transactions needing to close in 5-days
- Borrower’s need to waive TRID, RESPA, or TILA rights for bona-fide personal, family or household reason
- Need to accept another lender’s AMC appraisal
- Loans on property in Probate
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+Bridge Loans
- These are the last, legal STATED INCOME, STATED ASSET LOANS available to Residential 1-4, Owner-Occupied borrowers
- Property is presently listed for sale
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+Partial Construction Loans
- Property undergoing construction
- Property Owner ran out of money to complete repairs
- Proceeds to be used to make minor or major repairs
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+Non-occupant co-borrower
- A relative or significant other 3rd party helps primary borrower to qualify
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+Unsecured co-borrower
- A relative or significant other 3rd party helps primary borrower to qualify. Will sign Promissory Note but not the Deed of Trust
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+Bailout Financing
- Existing loans in default
- Existing loans in foreclosure
- Property in an unmarketable condition
- Loans on property in Probate
- Bailout Financing is case-by-case. Rose Financial must be satisfied that the loan provides a benefit to the consumer, and that the consumer has the ability to make the loan payment.
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+Small Commercial Loans in 1st or 2nd Position
- Loan amounts down to $50,000 (and up to $600,000)
- Interest only for up to 5-years
- Up to 20-year fully amortized
- Unique fully amortized terms: 5, 7, 10, 15 and 20 years
- 30-year amortization with longer maturity dates: 30/5, 30/7, 30/10, 30/15
- Small Income Property Appraisals (instead of the expensive “narrative” reports)
- We do NOT lend on any property associated with hazardous materials: gas stations, car washes, etc.
Minimum Submission Requirements: Your FNMA 3.2 file (completed with NMLS and BRE or CFL license info) and your credit report. More is better!
