NONI – Non Owner No Income

What is a NONI Loan? The NONI is a simple, innovative business purpose loan program available at Hometown Equity Mortgage. 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
  • 80% LTV on Purchase (700 FICO)
  • 75% LTV R/T REFI (700 FICO)
  • 75% LTV C/O REFI (700 FICO)
  • 40 Year Fully Amortized Term
  • Increased max loans amounts across the board (Max $3.5mm)
  • Now allowing 1x30x12
  • Short Term Rental – only need 1 year experience
  • Business funds now OK with 25% ownership

NONI Toolbox

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

NONI 65

  • NONI65 Matrix
  • No Min Tradeline requirements (MTG Only credit report with score allowed) No STR experience required to use STR rental income
  • No Restrictions on Nursing/Assisted Living homes
  • No Reserves required
  • Credit Event Seasoning only 24 months
  • No Restrictions on Unleased Property
  • Housing lates up to 0x60x12
  • No restrictions on gift funds
  • Condotels allowed