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TBD Loans

For when the property is to be determined
You can get the ball rolling even before you’ve locked in a property. Enjoy the convenience of securing a pre-approval based on your income and assets, giving you the flexibility to explore the market and find the perfect home. TBD loans can be retained for 60 calendar days.
See if you pre-qualify
Or, speak to a mortgage specialist.
Google rating: 4.5 of 5 stars
Bankrate rating: 5 of 5 stars
Zillow rating: 4.9 of 5 stars

Simpler mortgages

As a federally chartered digital bank and US Treasury designated Community Development Financial Institution (CDFI), we’re one of only a few mortgage lenders that can accept alternative income documentation from borrowers who have strong credit and the substantial down payment to qualify. We assess the loan applicant’s full financial profile, not just W2s and tax returns.
Conventional
Loans
TBD
Loans
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Little To No Income Documentation Required

X
Check
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Maximum Debt-to-Income Ratio

43%
50%
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DSCR Debt-to-Income Requirement

X
0.75x
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100% Gift Funds Accepted For Down Payments, Closing Costs, Etc.

X
Check
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Loan amounts

Up to $726,200
Up To $3,000,000*
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Minimum FICO score required

620
660
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Minimum down payment required

As low as 3%
10%**
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Adjustable Rate, Fixed Rate and
Interest Only Options Available

Check
Check
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Home purchase and refinance available, including cash-out refinance

Check
Check
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2nd home and multifamily properties allowed

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Check

Information in this chart is applicable to the purchase of a primary residence only.

*A loan up to $3,000,000 requires minimum 30% down payment and minimum FICO score of 740.

**10% Down payment required minimum 700 credit score and has a maximum $1 million loan amount.

Ways to qualify

Bank Statement:

Consecutive 12 month period bank statements required for income verification

DSCR:

Subject property income ONLY

Asset Utilization:

Qualifying monthly income = Post-closing assets x Utilization factor (see guidelines) ÷ 60 months

Lite Doc:

Tax Preparer, CPA or enrolled agent income verification for self⁠-⁠employed

Borrowers Who Benefit

Borrowers Who Benefit

Quontic’s non-traditional loan programs benefit a wide variety of individuals who, based on their profession or life stage, don’t meet the documentation requirements to qualify for a traditional mortgage loan, despite having the means to afford one.

Recognized as a top mortgage lender

Quontic’s loan officers may help make the loan process simple and seamless. With mortgage experience across multiple loan programs spanning decades, they are a diverse and multi-lingual team ready to walk you through each step of the mortgage process. And with hundreds of 5 star reviews from our customers, you can trust you’ll get a customized experience that makes your purchase or refinance goals a reality.

Speak to a mortgage specialist
"The loan team at Quontic Bank was fantastic! They helped me and my family to buy our first house. As immigrants, we have experienced many difficulties and obstacles, but they walked us through the best path and today we can say we own our own house. Highly recommended bank. Thank you."
- Paola R.
"My loan officer and his team looked after me from A-Z. I was extremely glad as a person with non-US sourced income to be able to buy my dream apartment in NYC – without Quontic’s focus on niche borrowers like me, I quite simply would not have been able to purchase my new West Village home. Thank you, Quontic!"
- Bryce G.
"Despite having a substantial down payment and excellent credit score, I was turned down by other institutions because I did not meet their income requirements, so I called Quontic Bank. They specialize in loans that are made for investors or buyers who cannot meet conventional mortgage requirements. Thank you. Quontic."
- James C.
"I had a great experience with my loan officer. Everyone was responsive, thorough, and professional. They were able to provide a loan based on my specific needs, which was not possible through other lenders. Highly recommend and will be coming back again in the future."
- James L.
"Excellent! I can’t believe it, I got my new home on time, 30-years fixed rate and no income check! I live in California, no matter they are in NY, all process we are doing by phone and email. They are professional. They know what documents need and help you to reach it. Thank so much to them!"
- Ng Kyle C.
"Let me start 2022 by saying our family is finally in the house of our dreams! Our Loan Officer and his team navigated us through the mortgage process with knowledge, confidence and kindness that is difficult to find nowadays, especially in business. From that 1st 'after hours' phone call I made to the closing of the loan, he always listened, was patient and helped us in ways other banks could not. We certainly put him to the test, and truly appreciate what he and Quontic bank did for us!"
Glenn & Brett K.

Frequently Asked Questions

Gift funds are monetary gifts a borrower receives from generous relatives to use towards the down payment and/or, possibly, other costs associated with purchasing a home. Funds received from grants or financial assistance companies cannot be used as gift funds. To learn more about gift funds, check out our guide “Using Gift Funds For A Down Payment”.
Yes, Quontic accepts 100% Gift Funds for down payment and closing costs for our Community Development Loans for eligible applicants.

Depending on which loan program you qualify for, you can have as little as a 20% down payment to own a home.

Depending on which loan program you qualify for, a statement of income may not be required.

No tax returns or W2s are needed to qualify for our Community Development Loans.

At Quontic, you’re more than just a loan application. We value all our customers’ diverse situations and embrace them with specialized mortgages made to fit their needs. Plus, in addition to being registered to lend in all 50 states, we offer a diverse and multi-lingual sales team, an experienced Mortgage Specialist at every step and convenient and helpful customer service.

Getting pre-qualified for a mortgage helps you understand how much home you can afford and shows that you are a serious buyer. It also helps you find a lender that can work with you to select the right home loan with an interest rate that fits your needs.

Mortgage rates can change every day. For the most current rates, please provide your contact information and we’ll have a mortgage specialist contact you. https://quonticdev.wpengine.com/mortgages/speak-to-mortgage-specialist/
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Disclaimer:

1All lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Information is accurate as of May 31, 2023 & is subject to change without notice.

2The Federal Housing Agency based on single unit as of May 31, 2023

Bankrate is a registered trademark of Bankrate, LLC. Google and the Google logo are registered trademarks of Google LLC. Zillow is a registered trademark of Zillow, Inc.
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