theNONI – Non Owner No Income Loans

What is a NONI Loan? theNONI is a simple, innovative business purpose loan program available at theLender. 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.

theNONI, SuperNONI, and nearNONI Matrix

theNONI

  • DSCR > 1.00
  • FICOS As Low As 620
  • No Ownership Seasoning on Cash Out
  • No LTV Restrictions on 2-4 units
  • Unlimited cash out
  • Recently listed properties allowed with min prepay of 1 yr.
  • Loan amounts to $3.5M (700-740 FICO)
  • Purchases to 85%
  • Use Highest mid score for any borrower on the loan for both qualifying and pricing

superNONI

  • Asset Depletion on DSCR
  • No Ownership Seasoning on Cash Out
  • Loan amounts to $2M
  • 680 Min FICO
  • Experienced investors only
  • Pre-depletion DSCR must be 0.75 – 0.99
  • LTVs to 80%
  • Better pricing and LTV than the nearNONI
  • Long term rentals only

NONI Toolbox

theNONI Cash Out

  • Going to 75% LTV on Cash Out Transactions (min 700)
  • Going to 70% LTV on Cash Out Transactions (min 660+)

theNONI Purchase & R/T

  • Going to 85% LTV on Purchase (min 700)
  • Going to 75% LTV on Purchase (min 660+)
  • Going to 75% LTV on R/T Transactions (min 660+)
  • Going to 80% LTV on R/T Transactions (min 700)

theNONI Allows 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 US Credit Required
  • First Time Home Buyers Allowed, First Time
    Investors Allowed
  • Assets held in Foreign Account allowed for reserves
    • *See guidelines for restrictions

nearNONI

  • DSCR < 1.00
  • FICO As Low As 660
  • Loans to $3MM
  • Max 75% LTV purchase with 700 FICO
  • Cash-out can be used as Reserves

theBLANKET | Covering 3-25 Properties

  • theBLANKET Matrix
  • theBLANKET Worksheet
  • Single mortgage for up to 25 properties
  • Partial release clauses- Individual pieces of real estate may be sold without full payoff being required
  • Experienced investors only
  • 1-4 residential units allowed
  • Loan DSCR minimum 1.20
  • Property DSCR minimum 1.00
  • Discounted underwriting fees per unit
  • Loan amount $400,000 and $3MM

CEMA Information

If you have more questions or need more information regarding theNONI mortgage loan, please email us at: TeachMeToNONI@theLender.com