Logan Finance rolls out new product tier for high-balance non-QMs

"Open Road Elevated gives our broker partners the tools to serve their high-net-worth customers at the level they expect, with loan amounts and qualification pathways that match the scale of their actual financing needs. Logan is very excited to get this product launched and out into the hands of our broker partners."

"There is a significant and underserved segment of borrowers who have the credit, the assets, and the cash flow to support a large loan, but simply don't fit the conventional mold. This tier gives our partners a credible, well-structured solution to bring back to their customers with confidence."

"The Asset Qualification (Beyond) program allows borrowers to qualify for loans up to $5 million using a 120-month asset depletion rate that converts liquid assets into qualifying income. And the debt-service-coverage ratio (Autobahn) option provides loans of up to $4.5 million for investor and business-purpose properties."

Logan Finance introduced Open Road Elevated to address a market gap in high-balance non-QM lending for high-net-worth borrowers. The program includes four lending options: Full Doc (Roam) for documented income up to $5 million, Bank Statement (Overland) using 12-24 months of statements up to $5 million, Asset Qualification (Beyond) using 120-month asset depletion up to $5 million, and DSCR (Autobahn) for investment properties up to $4.5 million with minimum 1.25 ratio. The product targets borrowers with strong credit, assets, and cash flow who don't qualify for conventional financing. Demand for such products has grown as more borrowers with complex financial situations seek alternatives to traditional underwriting standards.

Read at www.housingwire.com