Unique Mortgage Solutions for Homeowners and SFR Rental Investors

Griffin Funding offers a diverse range of Non-QM (non-qualified) mortgage products that allow you to qualify using better representations of your reliability as a borrower. Such representations may include bank statements, rental income, your liquid assets, or your credit history. Whether you are a new or experienced real estate investor or a hopeful first-time homebuyer, Non-QM mortgage products can help you finance your purchase, without having to jump through unnecessary hoops.

  • Greater underwriting flexibility
  • No personal income calculations are required
  • No job history is required (in some cases)
  • As little as 10% down required
  • No reserves required (in some cases)
  • Credit scores as low as 620 allowed (580 w/ compensating factors)
  • Low debt-service-coverage ratio (DSCR) on investment properties
  • Counting rental income (including Airbnb & VRBO)

Please Note: We do NOT offer loans for vacant land, commercial real estate or ground-up construction projects.

Property Geographic Area Details
Licensed in 14 states: AZ, CA, CO, FL, GA, HI, ID, MD, MI, MT, TN, TX, VA, WA
Loan Amounts
$100,000 to $3,000,000
Loan Terms
1 months to 360 months
Lien Position
1st
Collateral Types
  • Residential Property
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Primary Residence Purchase
  • Personal Use
Property Occupancy
  • Vacant
  • Tenant Occupied 100%

Maximum Leverage

Purchase Long-Term
Max LTP Residential: 90%
Max LTP Multifamily: 78%
Refinance Long-Term
Max LTV Residential: 80%
Max LTV Multifamily: 80%

Bank Statement Loans
Only a bank statement is required for this type of Non-QM loan. Borrowers can qualify with as little as two month’s bank statements however our most popular program is our 12-month bank statement loan. This loan is often a good solution for self-employed borrowers, business owners, realtors, consultants, and entrepreneurs.

Jumbo Loans with 10% Down
While traditional jumbo loans still often require 20% down, we offer near-miss jumbo loans up to $3 million with as little as 10% down, up to a 55% debt-to-income ratio, and credit scores as low as 660. Jumbo loans with 10% down are often the ideal solution for first-time buyers who might still have large student loans and other types of “good credit debt”. 10% down jumbo loans are also good for high-income earners who are looking to invest their cash in other assets.

No Income Investment Loans
Private and hard money loans often have high rates and take a while to get approved for, which is not ideal for most real estate investors. Alternatively, both new and experienced real estate investors can benefit from the expanded criteria offered by no-income investment loans which allow you to build your real estate portfolio with fewer setbacks. The Debt-Service-Coverage-Ratio loan uses the rental income of the property to qualify and does not take into account your personal income.

Asset-Based Loans
Asset-based loans allow you to leverage assets you already have, including checking and savings accounts, investment accounts, or money market accounts, to secure a loan. This type of Non-QM mortgage is ideal for individuals with substantial liquid assets available. Although asset-based loans are typically associated with high-interest rates, we have access to wholesale rates and favorable borrowing terms. Griffin Funding does not require you to pledge your assets.

Foreign National Loans (ITIN)
If you do not have a valid Social Security number, U.S. FICO score, or Individual Tax Identification Number (ITIN) you can still qualify for this type of Non-QM loan. To qualify, you will need to provide a VISA or VISA waiver as well as three active and open trade lines with a two-year history.

Interest-Only Home Loans
We offer interest-only home loans on 40-year fixed loans, 30-year fixed loans, 7/1 arms, and 5/1 arms. During the first 10 years of the loan, you will only pay the interest. This provides significant savings over the life of the loan. However, it’s important to keep in mind that you will not be paying down the principal balance during the interest-only period.

Recent Credit Event Loans
Recent credit events can make it challenging to secure a loan because many lenders view them as a red flag. However, we offer loan programs for borrowers with recent credit events including foreclosure, short sale, and bankruptcy. While we do offer options for as little as one day out from the credit event, loan terms typically improve the longer it has been, even in just a year or two.

Rental Property Loans
We offer a variety of loans specifically tailored to the needs of real estate investors who want to expand their portfolio to include single-family homes, 2 to 4 unit properties, condos, townhomes, multi-use, and multi-family 5 to 20 unit properties. Our loans are designed to make the process easier for buy-and-hold investors.


Who Should Consider a Non-QM Mortgage?

Purchasing property is already a complex and often drawn-out process. If you’re then ineligible for a traditional mortgage, the situation quickly becomes frustrating. However, QM loans are not your only option.

If you have been denied for a traditional QM loan, a Non-QM loan may be your next step. You might also want to consider a Non-QM loan if you have good reason to believe you will not qualify for a QM loan solely based on your credit, income, or other factors. For those who are still unsure whether this might be the right financing solution, let’s further break down the most common types of Non-QM loan borrowers.

Non-QM mortgages are typically recommended for:

  • Self-employed individuals
  • Real estate investors
  • Retirees interested in purchasing a second home that will not be their primary residence
  • Small to midsize business owners
  • Borrowers looking for interest-only payments or more flexible DSCR requirements
  • “Subprime” or “Non-Prime” borrowers who just barely miss the requirements for a QM loan and don’t want to postpone
  • Those who have had a recent credit event (bankruptcy, short sale, or foreclosure)

Process for Securing a Non-QM Loan

Step 1: First, the loan officer will assess your situation and propose the loan options (and the rates) that are available for your circumstances.

Step 2: Complete the loan application over the phone or through our secure online platform.

Step 3: Lock in your rate over the phone based on the agreed-upon terms.

Step 4: We will send the initial application and disclosures which you will need to then review and e-sign.

Step 5: Return the requested documentation.

Step 6: Your paperwork will be submitted to underwriting.

Step 7: The appraisal of the property and a termite inspection (if applicable) need to be performed.

Step 8: Once the loan is approved, we will request any additional information to finalize the documentation.

Step 9: You will review your Closing Disclosure/settlement statement with your loan officer and then you can have it signed by a notary.

Step 10: Once everything is complete, your loan will be funded and you’re ready to move forward with purchasing or refinancing your property.

Property Types

  • 2-4 Units Residential
  • Condominium
  • Single Family Residence

Loan Types

  • Residential Long-Term Rental
  • Residential Owner-Occupied

Specialty Loan Types

  • Residential Long-Term Rental
  • Residential Non-Prime
Must have at least 10% cash down payment for owner-occupied homes, and at least 20% for rental property loans.

Max Loan-to-Purchase Price

90%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash

Details and Requirements

Payment Structure
  • Amortized
Pre Payment Penalty

no

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
    Documentation Required
    • Credit Report
    • Tax Returns
    • Bank Statements
    • Financial Statements
    • Loan Application
    Personal Guaranty (Recourse) Required
    Always
    Credit Check Required

    yes

    Minimum Credit Score Required

    580

    Appraisal Required for Residential Property

    Always

    Broker Price Opinion (BPO) Accepted for Residential Property

    Never

    Get In Touch

    Griffin Funding pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

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    Griffin Funding is a mortgage company that helps borrowers secure a new home loan or refinance an existing mortgage. Our team leverages cutting-edge technology to originate loans that meet your particular needs. Although we specialize in VA loans and self-employed loans, we offer a wide array of loan and advising services. Contact Griffin Funding today to access top-tier customer service and highly competitive interest rates.

    Keep reading to learn more about us and why we make an excellent partner in securing a home loan.

    Our Mission
    At Griffin Funding, our mission is to serve our customers with honesty, integrity, and competence while providing the lowest interest rates and closing costs we possibly can. We always strive to be transparent with all of our clients and provide excellent customer service so that you can be confident that you’re getting a great deal on your home loan. What sets us apart from other mortgage companies is our ability to work with you to create highly personalized home loans that are tailored to your specific financial situation. Reach out to us today to find out more about the wide selection of mortgage products we offer and how you can get started in buying a home.

    What to Expect with Griffin Funding

    When you work with Griffin Funding, the first step in the process will be speaking with one of our mortgage strategists, who will evaluate the best loan options for you and find the lowest interest rate you qualify for based on your credit score and other determining factors. We will provide you with a personalized analysis that lays out your loan options, so you can compare your options and decide which one best suits your needs.

    Then, you’ll complete a loan application either over the phone or through our secure digital mortgage platform. Once you’ve completed the loan application, we can lock in your interest rate and help you along through the rest of the mortgage process.

    At Griffin Funding, we strive to tailor home loans to your unique situation while keeping our lending process as straightforward as possible. If you have any questions about us or concerns during the mortgage process, you can always reach out to us for support.

    Griffin Funding is a Licensed Mortgage Banker

    Griffin Funding holds licenses in over a dozen US states. Below is a list of the specific licenses we hold in each state:

    • Arizona: Licensed as a Mortgage Banker with the Arizona Department of Financial Institutions No. 0939726
    • California: Licensed by the Department of Financial Protection and Innovation (DFPI) under California Finance Lender Law (CFL) No. 60DBO-44274; DRE – 01943169
    • Colorado: Mortgage Company Registration – Regulated by the Division of Real Estate – 1120111
    • Florida: Licensed as a Mortgage Broker by the Office of Financial Regulation No. MBR3384; Licensed as a Mortgage Lender by the Office of Financial Regulation No. MLD1944
    • Georgia: Georgia Residential Mortgage Licensee – Licensed as a Mortgage Lender by the Department of Banking and Finance No. 1120111
    • Hawaii: Licensed as a Mortgage Loan Originator Company No. HI-120111
    • Idaho: Licensed as a Mortgage Broker/Lender No. MBL-2081120111
    • Maryland: Licensed as a Mortgage Lender by the Commissioner of Financial Regulation No. 06-24746
    • Michigan: 1st Mortgage Broker/Lender License No. FL0023397
    • Montana: Mortgage Lender License No. 1120111
    • Oregon: Mortgage Lending License No. 1120111
    • Tennessee: Mortgage License No. 214045
    • Texas: 1120111 (See licensing page for full Texas disclaimer)
    • Virginia: Licensed as a Mortgage Lender and Broker by the Virginia State Corporation Commission No. MC-7294; NMLS ID No. 1120111
    • Washington: Licensed by the Department of Financial Institutions under the Consumer Loan Act No. CL-1120111

    Why Work with Us?

    Buying a home is one of the biggest financial decisions you make in your life. However, for many people the mortgage process can appear complicated and overwhelming. One important thing to know about us is, when you work with Griffin Funding, you’ll get personalized assistance from knowledgeable loan specialists who can help you secure a great loan at a competitive interest rate. We offer a number of traditional and non-traditional loan services, so you can find exactly what you’re looking for. Plus, our online application makes applying for a home loan quick and easy.

    License

    NMLS ID 1120111

    Company Size (Number of Employees)

    52

    Year Established

    2013

    Associations

    • Mortgage Bankers Association

    Office Locations

    2445 5th Avenue, Suite 300, San Diego, California 92101

    Primary Capital Source
    • Own Funds
    • Other Private Lending Companies
    • Private Equity Funds
    • Hedge Funds
    • Life Insurance Companies
    Loan Structure for Majority of Loans
    • One Investor One Loan
    Percentage of Loans Secured by Residential Property

    99%

    Get In Touch

    Griffin Funding pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

    Stay Informed About Private Lending

    Receive our monthly newsletters with valuable insights and industry updates
    subscribe-illustration
    Before You Contact Us

    Our Minimum Loan Amount Is

    $100,000

    What We Do

    • Residential Properties in 14 States
    • Bank Statement Home Loans
    • Recent Credit Event Loans
    • DSCR Long-Term Rental Loans

    Not Available

    • NO 100% Financing
    • NO Land Loans
    • NO Rehab or Construction Loans
    • NO Commercial Properties

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