5 Ways to Diversify Your Business with Non-QM
Here are 5 ways offering Non-QM can help increase your business:
1. Work with investors.
Real estate investors can be excellent clients as they tend to purchase properties much more often than the typical homeowner who may buy a new home every five to ten years. When it comes time to refinance you may also be able to help them convert their entire portfolio to new loans. Non-QM products are particularly attractive to investors who often have non-traditional income documentation, need to finance non owner occupied homes, own multiple financed properties, or have other elements of their scenarios that could prevent them from qualifying for conventional loans.
2. Increase earnings per transaction.
Non-QM loans are often more profitable when compared with conventional or government financing. Expanding your pipeline to include Non-QM deals could allow you to bring in more income even without drastically increasing the number of closed transactions per month.
3. Appeal to borrowers with higher value properties.
Whether they are investors, business owners, or simply high-income earners, many borrowers financing high value homes love the flexibility of Non-QM products. When a greater percentage of your pipeline includes large loan amounts this too can lead to increased profit.
4. Impress current and potential referral partners.
Find a financing solution when others couldn’t and you will prove yourself indispensable to real estate agents also looking to grow their businesses. Agents who specialize in working with investors or high value homes are especially great relationships to cultivate.
5. Become less tied to interest rate trends.
Non-QM borrowers such as investors or international buyers may be less subject to interest rate fluctuations and the ups and downs of the housing market. Offering these products could help you do more business during those times when your competitors are anxiously waiting for rates to tick lower.
Interested in exploring the Simple Access® suite of Non-QM products from Luxury Mortgage Wholesale? We offer flexible programs that make life easy for you and your borrowers. Give me a call today to learn more.