Cleveland, OH based TPO, Valere Financial is a prominent third-party mortgage lender specializing in innovative lending solutions tailored to meet diverse borrower needs.
Operating under the CrossCountry Mortgage umbrella, Valere Financial offers a broad array of lending programs designed to serve self-employed individuals, investors, and borrowers with unique financial situations. Below is an overview of its key offerings:
Lending Programs
- Voltage Series:
- Bank Statement Loans: Ideal for self-employed borrowers, this program allows the use of 12 or 24 months of bank statements to verify income. Loan-to-value (LTV) ratios go up to 90% for purchases and 80% for cash-out refinances. It accommodates a range of property types, including single-family homes and non-warrantable condos.
- Investor Cash Flow DSCR Loans: Tailored for real estate investors, these loans base qualification solely on the debt service coverage ratio (DSCR) of the property. DSCRs as low as 0.75 are accepted, with LTVs up to 80% for purchases.
- Alternative Documentation Loans:
- 1099-Only Loans: Designed for independent contractors, these loans leverage one or two years of 1099 forms. LTVs can reach 90% for purchases, with a maximum loan amount of $3 million.
- Asset Qualifier Loans: For high-net-worth individuals, qualification is based entirely on assets without requiring proof of income or debt-to-income (DTI) calculations.
- Custom Programs:
- Foreign National Loans: Enable non-U.S. citizens to secure financing with flexible criteria such as asset qualification or DSCR-based approval.
- P&L Only and WVOE Only Loans: Offer unique income verification methods based on profit-and-loss statements or written employment verification, streamlining the process for self-employed borrowers and W2 employees.
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Distinctive Features
- RapidRate Tool: This platform provides instant pricing results across products, enabling quick decision-making.
- Customizable Lending: Valere offers in-house administration of exceptions to guidelines, allowing for personalized solutions.
Partnership Opportunities
Valere Financial encourages collaborations with brokers and other industry professionals, offering seamless loan processes, competitive pricing, and strong support to drive mutual growth.
Valere Financial operates nationally but does not facilitate mortgage applications for properties in New York due to regulatory restrictions. Its focus on flexibility and borrower-centric solutions positions it as a key player in the specialized mortgage market
