Non-traditional loans are mortgage options that do not meet the standard qualifications for conventional loans. These loans are designed to cater to borrowers with unique financial situations, such as self-employed individuals or those with less than perfect credit. WealthifyMe offers a variety of non-traditional loan types to help borrowers achieve their homeownership dreams.
Bank Statement Deposit Loan
These loans are ideal for self-employed borrowers who may not have traditional income documentation. Instead of providing W-2s or pay stubs, the borrower provides bank statements to verify their income. WealthifyMe offers bank statement loans with competitive rates and flexible qualification requirements.
ITIN Loan
ITIN loans are designed for borrowers who do not have a social security number but have an Individual Taxpayer Identification Number (ITIN). This loan program allows borrowers to obtain financing to purchase a home, even if they do not have a social security number. WealthifyMe offers ITIN loans with low down payments and competitive interest rates.
No Doc Loans
No Doc loans require minimal documentation from the borrower, making them an ideal option for self-employed borrowers or those with complex financial situations. Instead of providing extensive documentation, the borrower provides a self-certification statement that verifies their financial status. WealthifyMe offers no doc loans with flexible qualification requirements and low down payment options.
Asset-Based Loans
Asset-based loans allow borrowers to use their assets, such as stocks or bonds, as collateral for a loan. These loans are ideal for borrowers who have substantial assets but may not have sufficient income to qualify for a traditional loan. WealthifyMe offers asset-based loans with competitive interest rates and flexible repayment terms.
No Ratio Loans
No Ratio loans do not require the borrower to provide a debt-to-income (DTI) ratio. This loan program is ideal for borrowers who may have a high DTI due to factors such as student loan debt or a high credit card balance. WealthifyMe offers no ratio loans with flexible qualification requirements and low down payment options.
At WealthifyMe, we understand that every borrower is unique, and we offer a range of non-traditional loan options to meet their individual needs. Our experienced loan officers are dedicated to finding the right loan program for each borrower and guiding them through the mortgage process from start to finish. Contact us today to learn more about our non-traditional loan options and how we can help you achieve your homeownership goals.