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Newfi Loans has expanded its presence in non-QM waters. The company launched Pinnacles Step-Up Mortgage, a 30-year fixed mortgage product for non-QMM loans.
Newfi’s new product offers “a monthly payment that starts low and increases by 5% annually until the start of year 6, based on your outstanding balance. I left the book in the main building.
“The main benefit of Pinnacles Tired Mortgage is the low fee on non-QMM payments,” said Dan Baier, Newfi’s senior vice president of non-QMM development and strategy.
“A solution for the average homeowner to ease the burden on their wallet from high mortgage interest rates.”
Lenders base their maximum loan payment on the life of the loan. Alternative loan options also give you a complete overview of your monthly payment options, so your payments will add up over time, so there are no surprises.
Newfi founder and CEO Steve Abreu said, “Innovation is the key to success in a changing market environment.” We are delighted to launch our new Pinnacles Tier mortgages.
This innovative solution offers non-QMM borrowers another home loan option found only in Newfi.
Newfi currently offers new shipping products in Arizona, California, Florida, and Texas and plans to expand to other states based on cost and customer channels. Lenders also offer alternative financing (bank statement, 1099, property damage), DSCR mortgages, and other special financing options, including one-year interest loans. 40.
Reference Source: MPA
