The firm creates more mortgage options for non-agency borrowers
Following the launch of its premier jumbo mortgage for high-end properties, Sprout Mortgage has added four new non-QM programs to its product offerings.
"We're excited to be making these four new non-QM programs available to our clients so that they can provide their borrowers with a full range of mortgage options," Sprout Mortgage President Michael Strauss said. "These programs were developed to serve the unmet home finance needs of many consumers who are currently shut out of the home financing market, but who are credit-worthy borrowers."
The new programs feature new versions of the company's asset depletion and debt service coverage ratio proprietary products, including:
- J10 Select Jumbo Full Doc (for income documented with paystubs and tax returns)
- A10 Select Bank Statements or 1099 (for self-employed borrowers)
- A11 Select Asset Optimizer (for high net-worth borrowers)
- I10 Inve$tor Debt Service Coverage (for investment properties)
Borrowers and mortgage professionals can access the non-QM loan programs through a variety of widely used mortgage products and pricing engines such as Optimal Blue, Loan Sifter, EPPS, LoanNex, and Mortech.
