Quontic Bank, located in America, Manhattan. The bank has branches in various American States and cities. The Bank offers Spector basic banking services, while remaining in good standing with its customers. Not particularly distinguished from its rivals, the Quontic still attracted media attention, as it has a popular and convenient application “housing credits and reverse mortages”.
The bank’s founder, Steven Schnall, began to develop a Quontic with a net balance. Over the years, the bank has developed and expanded. The bank continuously makes its way to different States, however, at the moment it has branches in only two States of America.
CDL OCCUPIED BY THE OWNER
Benefits of the Community Development Loan Program
Quontic’s Community Development Loan Program provides non-traditional access to fixed capital that promotes home ownership for a variety of individuals and families without access to banking services.
We do not limit ourselves to standard loan qualifiers associated with traditional income verification. Instead, we consider the overall financial and credit profile of the borrower. That is why we can offer this special mortgage loan without tax return / proof of income.
This program is ideal for self-employed, low-income borrowers or those who can not provide standard documentation of income, such as W2, payroll receipts or tax returns. Each funded home represents an important step in transforming life, family and society.
HIGHLIGHTS OF THE PROGRAM
– No proof of income
– Easy acceptance with qualification credit rating and down payment
– Excellent for self-employed persons who are not eligible for a traditional loan based on their declared income.
MORTGAGE AND LOANS
VA – Residential Mortgage
– Low down payment required
– Sometimes the down payment is not required!
– Range of bets, terms and costs available
– Gifts can be used to pay for all or part of closing costs.
FHA – Residential Mortgage
– Low minimum down payment
– Choice of fixed and regulated rates
– Gifts may be authorized to pay all or part of the down payment or final expenses.
Quontic Bank: Lender VA and FHA
Low minimum initial contributions
Quontic is an FHA approved lender dedicated to providing an adequate housing finance system for low-income people. When you qualify for a mortgage, we will help you determine which loan is best for you and your unique circumstances.
Soldiers or veterans of military service and their spouses are eligible for a VA housing loan, which consists of a small down payment or without it. The government supports FHA and VA loans, so Quontic does not require additional monthly expenses for private mortgage insurance.
Loans for foreigners:
We make the process of obtaining a loan simple, fast and problem-free. Familiarize yourself with several recommendations that will help you assess whether a foreign national loan is suitable for you.
– New York City and/or metropolitan Miami only 1-4 family, apartment / PUD 1 and cooperative
– Self-employed borrowers: a letter from an accountant confirming income for the last two years and income for the current year.
– Liquidity after closing: requires at least 12 months PITI 2
– The requirements for participants, exceptions and other terms and conditions apply.
CDFI CERTIFICATION AND MORTGAGE ABROAD
As a Certified Financial Institute for Community Development (CDFI), Quontic strives to provide poor and underserved consumers with financial products to stimulate economic growth. That’s why when it comes to mortgages for foreign nationals, we scrutinize each applicant’s overall potential without paying attention to standard loan indicators to determine whether the applicant should be eligible for these special loans.