The Mortgage Calculator has entered the originations game and is now offering loans through a new entity, Mortgage Calculator Company LLC, the company announced.
The company first went solo back in September, when it left its parent company and became a standalone correspondent lender with 200 loan officers.
“We put in a lot of work to become a lender,” President Nicholas Hiersche said at that time. “We started as a branch at a bank, to a branch at a brokerage, to a branch at a lender. We are very excited to finally be in total control of our business.”
Specializing in Non-QM products, Mortgage Calculator is offering DSCR loans, Bank Statement loans, and Fix and Flip loans.
Borrowers can now apply for loans online with a fully digital 1003 mortgage application. Documents can be directly uploaded and users can pull their own credit score instantly for pre-qualification purposes.
The company is also offering completely virtual closings.
The Mortgage Calculator platform allows loan officers to provide “the best loan programs and technology in the industry” to their clients.
Loan officers can also send instant quotes by text and email.
The company enters the non-QM space at a time when many lenders are feeling the pain of a freefalling market. Sprout Mortgage and Angel Oak are two examples of serious suffering in the non-QM world this year.