Truss Financial Group is a financial services company that specializes in mortgage solutions—especially for people who don’t have traditional sources of income, such as entrepreneurs, investors, gig workers, and retirees. Founded in 2006, the company has helped thousands of clients achieve their financial goals by offering customized loan products and flexible mortgage options.
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Truss Financial Group Overview
Truss Financial Group offers a wide range of mortgage loan options for homebuyers, real estate investors, and homeowners looking to refinance. They specialize in home loans for non-traditional borrowers – including business owners, freelancers, and investors – approving 80% of loans that other lenders typically decline.
Pros
- Specializes in non-traditional borrowers
- High loan approval rate
- Customized loan options
- Flexible mortgage options
Cons
- Possibly higher interest rates for non-traditional borrowers
- May incur additional fees
- Potential for longer approval process for more complicated loans
Highlights
Minimum Credit Score: 580 (depending on loan type)
Minimum Down Payment: As low as 3% for qualified borrowers (depending on loan type)
Loan Term Options: 30-year fixed, 20-year fixed, 15-year fixed, 10-year/6-month ARM, 7-year/6-month ARM, 5-year/6-month ARM.
Approval Time: 10-14 days for traditional loans; 36-day average for main loan products
Is Truss Financial Group Worth It?
While Truss Financial Group has a lot of mortgage options for a wide range of borrowers, their specialized services may not be for everyone. If your financial situation is fairly straightforward, traditional lenders may offer you better rates. However, if you need a unique loan to support your investment goals, Truss Financial Group could be an excellent fit.
Truss Financial Group is a legitimate business with decades of experience, and its mortgage offerings have helped many borrowers who need flexible solutions and personalized loan options that traditional lenders may not provide.
👉 Get started with Truss Financial Group today!
How Does Truss Financial Group Work?
When you’re ready to see what your mortgage options are, click the Get a Quote button on Truss Financial Group’s website. From there, you’ll be directed to answer a series of questions about your finances and real estate goals.
Once your information is submitted, you’ll be paired with a mortgage expert for an initial consultation to go over your situation and loan needs. After your consultation, you’ll receive a login to Truss Financial Group’s online portal, where you’ll upload copies of your important financial documents, such as bank statements, tax returns, proof of income, and more.
Truss Financial Group: Types of Loans
After reviewing your financial information, your loan officer will provide you with several mortgage options that fit your needs.
| Loan Type | Description |
|---|---|
| Conventional Loans | For buyers with traditional income and credit score; used for any property type |
| FHA Loans | Government-backed for lower-income buyers; low down payments allowed |
| VA Loans | For veterans and active military; no down payment or private mortgage insurance |
| Jumbo Loans | For homes exceeding standard loan limits; stricter credit and down payment requirements |
| Reverse Mortgages | Designed for homeowners 55+ to access home equity as tax-free income |
| Fix & Flip Loans | Short-term loans for property renovations aimed at resale |
| HELOC | Credit line based on home equity, flexible borrowing for various expenses |
| Bank Statement Loan | Uses bank statements for eligibility; ideal for non-traditional income earners |
| DSCR Loans | Qualifies based on property cash flow, ideal for real estate investors |
| No Documentation Loans | No traditional income documentation required; for non-traditional income earners |
| Self-Employed Mortgages | Accepts alternative income documentation for self-employed applicants |
| Asset Depletion Loans | Uses liquid assets as qualification; ideal for retirees and high-asset holders |
| Stated Income Loans | Based on reported income, verified via bank statements; suitable for freelancers |
Let’s take a look at the different types of loans offered by Truss Financial Group to help you find the best loan for your needs.
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Conventional Loans
Conventional loans are the most common type of mortgage. These loans are not guaranteed or insured by the government. They usually require larger down payments and higher credit scores. A conventional mortgage is best for those who have income from a traditional job and a good credit score.
Conventional loans can be used to purchase any type of property—from a primary residence to a vacation home or investment property.
FHA Loans
FHA loans are government-backed mortgages aimed at helping people with lower incomes and credit scores purchase a home. FHA loans not only have lower down payment requirements but also allow you to finance the closing costs. These loans are popular among first-time homebuyers and can be used to purchase a new home, refinance an existing one, or even fund renovations.
👉 Related: What Is a USDA Home Loan?
VA Loans
VA loans are government-backed mortgages designed to help veterans, active-duty military members, and eligible surviving spouses purchase a home. These loans, managed by the Department of Veterans Affairs, benefit veterans by requiring no down payment or private mortgage insurance.
Jumbo Loans
Jumbo loans are for homes that exceed the standard loan limits set by the Federal Housing Finance Agency, allowing buyers to finance high-value properties that require larger loans. While they do offer fixed-rate and adjustable-rate options, these loans have stricter credit criteria and require larger down payments due to the increased risk for the lender.
Jumbo loans are typically used to mortgage luxury homes or properties in expensive areas, catering to buyers who need financing beyond what a conventional loan can offer.
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Reverse Mortgages
A reverse mortgage is a special loan designed for homeowners aged 55 and older. It allows them to access a portion of their home’s equity as tax-free income without the need to make monthly mortgage payments.
The amount you can borrow depends on factors like your age, home value, and current interest rates, but it’s a flexible option for retirees who want to stay in their home while supplementing their income for everyday expenses.
Fix & Flip Loans
Fix and Flip loans are designed to help investors purchase and renovate properties for resale. These loans are intended to be short-term, usually lasting from six months to a year, allowing investors to quickly buy, upgrade, and sell the property for a profit.
👉 Related: How Do Home Improvement Loans Work?
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit allows homeowners to borrow against the equity in their home, creating a revolving credit line that you can use for anything from home renovations to debt consolidation.
The great thing about HELOCs is that you only pay interest on the amount you borrow, giving you flexibility when it comes to managing expenses. This makes HELOCs a popular choice for homeowners who want access to funds without committing to a lump-sum loan.
Bank Statement Loan
Bank statement loans are designed for those without traditional income sources. Instead of using W-2s and tax returns, lenders review your bank statements to assess eligibility.
These loans are ideal for business owners, freelancers, independent contractors, and gig workers who have a steady income flow but lack the documentation required for a traditional loan.
Debt Service Coverage Ratio (DSCR) Loans
DSCR loans qualify you based on your property’s cash flow rather than your personal income. Lenders calculate the DSCR by dividing the property’s annual net operating income by its annual mortgage debt to determine whether the property can cover its own expenses.
This type of loan is ideal for real estate investors who want to qualify based on their property’s performance rather than their personal income.
👉 Related: Investment Scams: How To Protect Your Finances
No Documentation Loans
No Doc Loans allow borrowers to qualify for a mortgage based on their credit score, assets, and property equity – no traditional income documentation is required. Like Bank Statement Loans, they’re geared toward borrowers with non-traditional income, including business owners, freelancers, and contractors.
Self-Employed Mortgages
Self-Employed Mortgages are designed for business owners and freelancers. Instead of using W-2s and pay stubs, lenders accept alternative income documentation, such as bank statements, profit and loss statements, and tax returns, so it’s easier for self-employed borrowers to qualify.
Asset Depletion Loans
Asset Depletion Loans are for people who have a significant number of assets but lack the traditional income often required for a conventional mortgage. Instead of requiring W-2s and tax returns, lenders qualify borrowers based on the value of their liquid assets. The lender will calculate your hypothetical income by projecting the gradual depletion of your assets over time, allowing your wealth to serve as a basis for approval.
These loans are particularly helpful for retirees, investors, and those with large investment portfolios who may not have a steady income but have significant financial reserves.
👉 Get started with Truss Financial Group today!
Stated Income Loans
Stated Income Loans rely on a borrower’s reported income, which is then verified through bank statements and other financial documents rather than W-2s and tax returns. This type of mortgage is a good option for those with irregular or non-traditional income, such as freelancers, independent contractors, and business owners, who may not qualify for conventional loans but can demonstrate their ability to repay.
Truss Financial Group Reviews
According to Yelp and the Better Business Bureau, customers have had positive experiences working with Truss Financial Group. The mortgage lender has a 4.5-star average on Yelp with 48 reviews, and a 4.8-star average on BBB with 37 reviews.
Here are just a few reviews from past clients:
How To Contact Truss Financial Group
To get a quote for a Truss Financial Group mortgage, simply click the “Get Quote” button on their website and fill out the form with your information. A representative will later reach out to schedule your consultation.
If you want to talk to a live person on the phone, you can reach out to them at 1-877-485-9718. If you need to send them an email, you can do so at [email protected].
👉 Get started with Truss Financial Group today!
Is Truss Financial Group Right for Me?
When deciding whether Truss Financial Group is right for you, consider its strengths and limitations. Truss specializes in loans for non-traditional borrowers. It’s ideal for business owners, freelancers, and retirees who might not qualify elsewhere. With a wide range of loan products, including Asset Depletion and DSCR loans, Truss Financial Group provides flexibility for complex financial situations.
However, you should also consider that these specialized loans might come with higher rates, added fees, and a slower approval timeline compared to traditional loans. To see whether Truss Financial Group’s terms fit your financial needs, reach out for a free quote and see if their loan options are right for you.
👉 Get started with Truss Financial Group today!
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