We’re excited to announce another new non-QM loan program: Denali!
The Denali Non-QM loan program offers better rates and higher LTVs than many competing non-QM programs. Plus you can access jumbo loan amounts with no mortgage insurance.
Here are some highlights:
- Purchase/Rate & Term loan amounts up to $2.5 million
- Owner occupied:
- 95% LTV up to $1.5 million, no MI
- 90% LTV up to $2.5 million, no MI (purchase and R&T)
- Cash out to 95% LTV
- Non owner occupied:
- Purchase and R&T to 85% LTV, no MI, up to $2.5 million
- Cash out to 80% LTV, no MI
- 40-year fixed rate mortgage with 10 year interest-only period (max 43% DTI)
- Expanded DTI up to 50%
- Unlimited financed properties for LTV of 70% or below (second home & non-owner occupied)
- Shorter seasoning requirement from major credit events
- Credit scores as low as 600
Who is this loan product for?
Denali is ideal for clients who can fully document their income and who want to:
- Unlock the equity in their investment properties;
- Borrow despite recent credit events like bankruptcy, foreclosure, or short sale; or
- Manage monthly mortgage payments with an interest-only option.
How does Denali compare to our Biscayne Jumbo program?
Denali is a non-QM jumbo program that permits higher LTVs (up to 95%!) and also provides an option for a 40-year fixed-rate term with a 10-year, interest-only option. Biscayne is a standard, delegated jumbo product providing our most competitive rates for loan amounts up to $2.5 million, as well as fast closings. Read more about the Biscayne Delegated Jumbo Loan Program.
How does Denali compare to our Glacier Flex Non-QM program?
Denali is a full-doc program, allowing for higher LTVs and better pricing. Glacier Flex is an alt-doc program that makes it easier for borrowers to qualify. Read more about Glacier Flex (for homeowners) and Glacier Low-Doc Investment (for investors).
For more information
See our program guidelines, or call the Newfi Wholesale team at 888-415-1620!