Business Details
10 Years
experience
Trusted Mortgage Broker in New York, NY
Onslow Bay Financial has established itself as a leading correspondent aggregator in the residential mortgage market since 2016. As a wholly-owned subsidiary of Annaly Capital Management, Inc., the largest mortgage REIT globally, we leverage our parent company's $13 billion in permanent capital to provide reliable liquidity solutions for originators. Our specialized focus on purchasing closed, funded residential whole loans allows us to maintain strict credit discipline while offering flexible financing options for underserved borrowers. With a proven track record of $42.7 billion in non-Agency securitizations since 2018, our experienced asset management team employs rigorous governance processes to ensure optimal portfolio performance.We maintain critical industry approvals including Fannie Mae Single Family Servicer, Freddie Mac Seller/Servicer, and HUD Investing Mortgagee designations across all 50 states. Our commitment to common-sense lending has earned us recognition as a preferred partner during market volatility, including honoring all loan commitments during the COVID-19 pandemic. Through continuous innovation in loan acquisition strategies and proactive portfolio management, we deliver value to both originators and investors while maintaining strict compliance with regulatory requirements.
Services
Residential Mortgage Loans
Investment Property Financing
Non-QM Loan Programs
Jumbo Loan Solutions
Second Home Mortgages
Home Equity Financing
DSCR Loan Programs
Foreign National Mortgages
Details
- Year established: 2016
Highlights and features
- We offer 20+ years of combined leadership experience in mortgage finance
- Our parent company provides $13 billion in permanent capital access
- We maintain strict credit discipline with proven portfolio management
- We honor all loan commitments during market volatility periods
- We hold critical industry approvals in all 50 states and DC
Associations and certifications
- Fannie Mae
- Freddie Mac
- HUD
Services
Residential Mortgage Loans
We specialize in purchasing closed, funded residential whole loans with flexible qualification options including full documentation, streamlined verification, and alternative documentation methods. Our programs accommodate various property types including owner-occupied, investment properties, and second homes with loan amounts up to $3.5 million. With minimum FICO requirements starting at 660 and maximum LTVs reaching 90%, we provide accessible financing solutions while maintaining strict credit standards.
Non-QM Loan Programs
Our non-qualified mortgage programs cater to borrowers with unique financial situations through specialized underwriting criteria. These include expanded prime, sharp A+, and foreign national programs that accept alternative documentation methods like bank statements and profit/loss statements. With flexible debt-to-income ratios up to 55% and interest-only options available, we serve borrowers who don't fit conventional lending requirements while maintaining responsible lending practices.
Investment Property Financing
We offer comprehensive financing solutions for real estate investors with programs specifically designed for income-producing properties. Our DSCR and cross-collateralized loan programs evaluate property cash flow potential rather than traditional income documentation, with minimum DSCR requirements starting at 0.75x. Professional investors can qualify with or without employment verification, and we support portfolios with up to 15 properties under cross-collateralization arrangements.
Jumbo Loan Solutions
Our jumbo loan program accommodates high-value properties with loan amounts up to $3.5 million through Automated Underwriting System approval. These loans require minimum FICO scores of 720 and maximum LTVs of 80%, with flexible options for owner-occupied and second home properties. We maintain strict payment history requirements aligned with DU/LP guidelines while providing exceptions for qualified borrowers with compensating factors.
Home Equity Financing
We provide home equity financing options including closed-end seconds and HELOCs with loan amounts up to $500,000. Our programs accept documentation per Fannie Mae Seller Guidelines or Desktop Underwriter requirements, with maximum CLTV ratios up to 85%. These products are available for owner-occupied, investment, and second home properties with minimum FICO scores starting at 680 and debt-to-income ratios up to 50%.
Questions
What types of mortgage loans does Onslow Bay Financial offer?
We offer a comprehensive range of residential mortgage products including conventional loans, jumbo loans, investment property financing, second home mortgages, non-QM loans, and home equity products with flexible qualification options.
Can foreign nationals qualify for mortgages through Onslow Bay?
Yes, our Foreign National Plus program accepts applications for investment properties and second homes with full documentation, including foreign credit evaluation and DSCR underwriting options.
What are the minimum credit requirements for your loan programs?
Minimum FICO requirements vary by program starting at 660 for most conventional loans, 680 for investment properties, and 720 for jumbo loan programs with maximum LTV ratios ranging from 65-90%.
Do you offer financing for investment properties?
Yes, we specialize in investment property financing with multiple programs including DSCR loans, cross-collateralized options, and standard investor loans with maximum loan amounts up to $2.25 million.
How does Onslow Bay handle loan applications during market volatility?
We honor all outstanding loan commitments during market volatility periods, as demonstrated during the COVID-19 pandemic when we maintained liquidity for our originator partners.
What documentation options are available for loan qualification?
We offer full documentation (W2, tax returns), streamlined verification (1-year documentation), and alternative documentation (bank statements, profit/loss statements) depending on the specific loan program.
