A non-QM secret waiting to be discovered

The financial risk is low, too. In Acra Lending’s case, the LTV typically is 75% for purchase and 70% for refinance.

For brokers, their task is to be fully aware of the details of their properties, including the number of bedrooms and bathrooms.

For the end user, there is also a clear benefit, given that the cost of traditional adult care facilities can sometimes run into hundreds of thousands of dollars. According to a 2021 Cost of Care Survey by Genworth, a private room in a nursing home can be as much as $297 a day, or more than $9,000 a month.

“The monthly cost can sometimes be astounding, so it also comes down to affordability,” Fox noted. “A lot of folks that are on a fixed income don’t have those assets or they don’t have that monthly income. They’re also looking for something that’s not only affordable but maybe a little more personalized than what they would find in a large facility.”