Anyone have experience with sprout mortgage?

[Lam N.]

https://www.sproutmortgagedire...

Not talking about sprout financial. I'm talking about sprout mortgage direct. Anyone has any experience with these guys? 

[Chris Mason]

Not a scam, real company. Have closed with them.

Also not different from any other non-qm.... opaque, slow, expensive compared to Fannie, and a generally frustrating pain in the butt. Standard features of non-qm.

The value proposition is that they are NOT expensive when compared to hard money, so it's a question of if it is worth it to you in order to get rates/fees/terms that will beat HML (but don't bother if it's a scenario where you MUST close in less than 45 days, b/c that is a coin toss). Standard value proposition of non-qm.

Every non-qm lender says "we are different, bla bla bla." Also a standard claim of non-qm.

No guarantee that Sprout is the best deal in town. Might want to check with a correspondent banker or wholesale broker who can check them against the other non-qm folks. Retail correspondent and wholesale brokered are priced basically the same in non-qm, neither brokers brokering nor bankers correspondent banking have any rate/term advantage in non-qm, pick who you like.