Sprout Mortgage Launches Expanded Suite Of Non-QM Loan Programs

EAST MEADOW, N.Y., May 27, 2020 /PRNewswire/ -- Sprout Mortgage, the leading nationwide force in non-QM residential lending, today unveiled four new loan programs engineered to meet the needs of non-QM borrowers -- and the mortgage professionals who serve them -- in the current challenging markets.  The programs include new versions of Sprout's popular asset depletion and debt service coverage ratio flagship products.

"We're excited to be making these four new non-QM programs available to our clients so that they can provide their borrowers with a full range of mortgage options.  These programs were developed to serve the unmet home finance needs of many consumers who are currently shut out of the home financing market, but who are creditworthy borrowers," said Michael Strauss, President.  

The four new Sprout non-QM loan programs replace existing Sprout non-QM programs and are effective May 27, 2020.  Maximum LTVs of up to 80% are available, as are loans of up to $4 million at lower LTVs.  The four programs include:

• J10 Select Jumbo Full Doc
  – For income documented with paystubs and tax returns
• A10 Select Bank Statements or 1099
  – Typically for the self-employed
• A11 Select Asset Optimizer
  – For high net-worth borrowers
• I10 Inve$tor Debt Service Coverage
  – Designed for investment properties

Sprout's new loan programs are accessible through many widely used mortgage product and pricing engines including Optimal Blue, Loan Sifter, EPPS, LoanNex and Mortech. Full details are available to mortgage professionals through the Sprout Client Portal, while Sprout's easy-to-use iQualifi app provides scenario eligibility and pricing. 

Today's news follows the May 20 announcement that Sprout added to its residential loan programs with the launch of the Premier Jumbo Mortgage for purchase or finance of higher-end properties, with loan amounts to $3 million.

About Sprout Mortgage

Sprout Mortgage is a leading nationwide non-QM lender whose innovative products, flexible qualifying criteria, and precision underwriting provide tailored lending solutions for residential real estate investors, self-employed borrowers, and those with recent credit events. Sprout provides modern lending solutions to help a broad range of consumers and the brokers and lenders who serve them.  For more information, visit www.sproutmortgage.com or call 844-664-6100.

CONTACT:       
Thomas Walek 
Peaks Strategies 
[email protected] 
917-353-7575

SOURCE Sprout Mortgage

Related Links

http://www.sproutmortgage.com