After initial COVID uncertainty, the lender is offering programs for the self-employed, gig workers, and more
SAN DIEGO (PRWEB) April 07, 2021
Griffin Funding, a San Diego-based mortgage company, is bringing back non-sqm loans for homebuyers who do not have the traditional documentation required to qualify for a home, such as:
When the corona virus first hit the US in March 2020, many investors and banks feared that they would experience another recession in 2007. This resulted in many withdrawing their investments and no longer offering financing for home loans. Fortunately, the government stepped in and assisted service providers for all qualifying mortgage loans. Unfortunately, this did not cover Qm loans and many were unable to secure a loan or were in the middle of processing their loan and lost funding.
“Many of our clients are successful self-employed business owners looking to buy or refinance a home and choose our statement loans, one of our most popular non-QM loans,” said Bill Lyons, CEO of Griffin Funding. “It was disheartening not to be able to help these people to buy or refinance their dream home, especially in these uncertain times.”
Now – a year after the COVID pandemic – investors who expected a massive spike in mortgage defaults, especially among self-employed and gig workers, are seeing the opposite.
“The big banks, lenders and investors recognize that unskilled borrowers are not unreliable,” says Lyons. “Many of these borrowers are non-traditionally qualified because their W-2s or tax returns don’t show a complete picture of their actual income. But the reality is that they are more than qualified.”
The introduction of non-QM loans will be more focused and less risky with the types of programs available. Griffin Funding looks forward to again offering:
“We have received a lot of inquiries about this type of loan, so we’re excited to finally be able to serve these customers,” said Lyons. “We are very focused and ready to take non-sqm loans to the next level.”
Griffin Funding was founded in 2013 and currently operates in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Maryland, Michigan, Montana, Tennessee, Texas, and Washington.
About Griffin Funding
Griffin Funding’s mission to serve its customers with honesty, integrity and competence is fulfilled every day, providing veterans and their families with the lowest possible interest rates and closing costs. Griffin Funding’s wide range of lending services provides the company with 5-star customer service and competitive rates in minutes. The credit specialists cater to each customer individually, strive to understand and meet individual needs and make forward-looking, long-term plans for the future. For more information on Griffin Funding, please visit Griffinfunding.com.
For the original version on PRWeb visit: https://www.prweb.com/releases/griffin_funding_reinstates_non_qualified_mortgage_loans/prweb17845811.htm