NONI – Non Owner No Income Loans
What is a NONI Loan? The NONI is a simple, innovative business purpose loan program available at theLender. It is designed for business purposes for 1-4 unit commercial mortgage loans and is the result of four years and over $5 billion in NonQM submission research and development. We’re here to help you add this incredible product to your business line.
Program Highlights
- As little as 0 months reserves (Use property cashflow to qualify)
- FICOS As Low As 620
- No LTV Restrictions on 2-4 units
- LTV’s up to 80% (min 660 fico)
- 40 Year Fully Amortized Term available
- Increased Max loans amounts across the board (Max $3.5mm)
- Now allowing 1x30x12
- Short Term Rental – only need 1 year experience
- Business funds OK with 25% ownership
NONI R/T
- Going to 75% LTV on R/T Transactions (min 660+)
- Going to 75% LTV on Cash out Transactions (min 660)
NONI Cash Out
theNONI Allows Foreign Nationals
- Foreign National Matrix
- Investment Properties only
- 75% MAX LTV – Purchase
- 65% MAX LTV – Rate and Term Refi
- 65% MAX LTV – Cash out Refi
- Up to $1,500,000 loan amounts
- No Income, No Job, No US Credit Required
- First Time Home Buyers Allowed, First Time Investors Allowed
For Borrowers with FICO ≥ 680 and LTV ≤ 65%
NONI Toolbox
- ACH Form
- Business Purpose Broker Package
- Business Purpose Cash Out Letter
- Business Purpose Doc Request
- Business Purpose Loan Sign Up
- Business Purpose Matrix
- Business Purpose Submission Form
- Commercial Loan Application
- Disclosure Certification and Acknowledgement
- NONI Calculator
- NONI Checklist
- NONI Fact Sheet
- NONI Prequalification Checklist
Download the whole NONI Submission Package
- HERE
If you have more questions or need more information regarding theNONI mortgage loan, please email us at: TeachMeToNONI@theLender.com