By working with Bayshore, you’re taking the necessary steps to ensure your home buying experience goes smoothly and successfully. Nothing is worse than falling in love with a home only to find that it’s out of your price range or you can’t qualify for a loan of that size. For this reason it’s critical to work our team of professionals, so you can save yourself the time and the hassle of getting turned down by the bank.
Non-Qualified vs. Qualified Mortgages
A Non-Qualified Mortgage (Non-QM) is a loan that doesn't meet the standards of a qualified mortgage and uses non-traditional methods of income verification to help a borrower get approved for a home loan.
A Qualified Mortgage (QM) is a home loan that meets federal guidelines aimed at preventing lenders from issuing loans that borrowers can't afford to repay.
We Specialize in Acquiring:
Non-QM loans for investors and self employed borrowers
Non-Conventional loans for those wanting to do fix and flips, rental investments, and multi-units
Loans for borrowers credit issues or low scores
Loans for refinancing
Non-QM loans for borrowers who was denied by the bank their because debt to income ratios too high
SENIORS!
Reverse Mortgages And
Home Equity Conversion Mortgages
(For Homeowners Ages 65 years or Older)
A Reverse Mortgage is a mortgage loan, usually promoted to older homeowners, that enables the borrower to access the unencumbered value of the property. The loans typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes and homeowner's insurance. Reverse mortgages allow elders to access the home equity they have built up in their homes now, and defer payment of the loan until they die, sell, or move out of the home.
A Home Equity Conversion Mortgage (HECM) is a type of reverse mortgage that are federally insured by the FHA.
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