Non-QM lender AD Mortgage has announced a purchase loan credit offering for its mortgage broker partners, available for a limited time period.

The non-agency lender said it would offer a 0.25bps lender credit on non-QM purchase loans locked between April 6 and April 30. Borrowers located within Colorado, Utah, Texas, Nevada, Washington (business purpose loans only), Maryland, and New Hampshire will receive the credit toward closing costs at the time of closing.

Allowed properties include:

• Prime/Super Prime – Single Family Residences, Townhomes, Condo Warrantable/Non-warrantable (Limited Review OO: 85% (FL 75%) CLTV Max, Inv & 2nd Home:75% (FL 70%) CLTV Max ), Condotel, 2-4 Units (not available for 2nd home), PUD, SFR Rural (70 CLTV Max, Min FICO 680), Manufactured housing (70 CLTV Max, Min FICO 680), Short term rentals (70% CLTV Max), Leasehold and mixed-use.
• DSCR/Foreign National DSCR – Single Family Residences, Townhomes, Condo Warrantable/Non-warrantable (Limited Review 75% (FL 70%) CLTV Max), Condotels, 2-4 Units (80 CLTV Max), PUD, Short-Term Rentals (70% CLTV Max), Leasehold, SFR Rural (70 CLTV Max, Min FICO 680), Manufactured housing (70 CLTV Max, Min FICO 680), Multifamily property (70 CLTV Max, Min FICO 680, DSCR ≥ 1.1), Mixed Use (70 CLTV Max, Min FICO 680, DSCR ≥ 1.1)
• Foreign National Full Doc – Single Family Residences, Townhomes, Condo Warrantable/Non-warrantable, Condotels, 2-4 Units, PUD, SFR Rural (70 CLTV Max, Min FICO 680), Manufactured housing (70 CLTV Max, Min FICO 680), Short-Term Rentals (70% CLTV Max), Multifamily property (70 CLTV Max, Min FICO 680, DSCR ≥ 1.1), Mixed Use (70 CLTV Max, Min FICO 680, DSCR ≥ 1.1), Leasehold.

“At A&D Mortgage, we understand that providing your clients with the best possible loan options and competitive rates is crucial to your business success,” the company said in its news release. “That’s why we are committed to working closely with our mortgage broker partners to ensure that their clients receive exceptional service and support throughout the loan process. Take advantage of this limited-time offer to help your clients save money and get the financing they need to purchase their dream homes.”

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