Non-QM Home Loans
Serving borrowers who don’t meet traditional lending requirements.
What is a Non-QM home loan?
Non-QM stands for Non-Qualified Mortgage – a home financing built for borrowers who don’t fit the standard mold of a traditional mortgage. Instead of relying on traditional income documentation, Non-QM programs can use alternative income qualification methods designed around real-world income situations. This makes Non-QM a strong fit for:
- Self-employed borrowers including business owners, contractors, gig workers and freelancers
- High net worth individuals and retirees who can qualify using asset-based documentation
- People who have an ITIN instead of a Social Security number
- Borrowers with variable or multiple income streams that don’t fit a standard W-2 profile
- Buyers or refinancers of unique properties like non-warrantable condos, vacant land or mobile homes on land
More Flexibility on Credit
Non-QM programs tend to offer more flexibility around credit history, which means:
- Borrowers navigating a recent credit event like a bankruptcy or foreclosure, may still qualify for a new mortgage
- Borrowers with limited or no established credit history have a realistic path to homeownership
Is Non-QM Safe?
Yes. A Non-QM home loan isn’t a riskier or “lesser” mortgage – it’s simply a different underwriting approach. Instead of forcing every borrower into the same documentation box, Non-QM loans allow lender to evaluate income and credit in a way that reflects the borrower’s actual financial picture.
Who Can Benefit From a Non-QM Home Loan?
Non-QM loans have more flexibility in underwriting guidelines and provide the opportunity of homeownership for borrowers that conventional lenders tend to deem to risky due to their non-salaried income, less than perfect credit history – or people who just don’t fit the criteria for a ‘qualified’ mortgage.
People who are self-employed
While standard or traditional mortgages require tax returns for documenting self-employment income, Non-QM loans allow you to utilize alternative documents such as your business profit and loss statement or bank statements to prove your income.
People with a high net worth
Non qm home loans provide a flexible income documentation option known as ready asset. This income approach allows you to utilize seasoned assets to document your proof of adequate income.
People with only an ITIN
Non-QM home loans can benefit individuals that are living and working in the U.S legally but are not citizens. These loans allow you to utilize the individual tax identification number (ITIN) given to you by the Internal Revenue Service instead of a social security number.
People with credit challenges
Non-Qualifed Mortgages provide an alternative financing option for individuals that face credit challenges such as a previous bankruptcy or foreclosure as well as people with little to no credit history.
People buying or refinancing a unique property
Non-QM’s flexibility makes financing properties like Non-Warrantable Condo’s, Mobile Homes, Barndominiums and Vacant Land possible.
With over 70 years of mortgage lending experience, our team understands the dynamics of Non-QM lending and we are ready to walk you through the process from beginning to end.
Your Next Move Starts Here
with a Non-QM Home Loan!
Non-QM Home Loan Program Highlights
Minimum Down Payment of 15% Required
Use Gift Funds for your down payment
No Prepayment Penalties
Debt-to-Income (DTI) of up to 55%
Most Property Types Accepted
Eligible Even Without a Credit Score
Flexible Income Documentation Options
Why Consider a Non-QM Home Loan for Homeownership?
A Non-QM (Non-Qualified Mortgage) loan can be a smart choice for homebuyers with unique financial situations. Unlike traditional loans that follow strict guidelines, Non-QM loans offer more flexible qualification criteria. This makes them a great option for individuals that may struggle to meet conventional lending standards – but have the ability to repay a mortgage. Whether you are self-employed, have high debt-to-income, recovering from a recent credit event such as bankruptcy or foreclosure, or even have non-traditional income like gig income, a Non-QM loan could be the key to unlocking home financing using a more personalized approach.
The advantages of considering an alternative mortgage loan for homeownership include:
Greater Flexibility in the Approval Process
Traditional mortgage rules can be a bit rigid, but Non-QM loans are different. They allow lenders to take a broader view of your financial picture – considering recent credit events, lack of credit, higher debt-to-income (DTI) ratios and other unique circumstances. Using a holistic approach can make it easier for qualified borrowers to get approved, even when life doesn’t check all the traditional boxes.
Qualify Using Alternative Income Documentation
Non-QM loans work for real-life income situations. If you are self-employed, operate as an independent contractor, a freelancer/gig worker or earn income from investments, these loans allow you to qualify using bank statements, business profit and loss statements, 1099s or even assets. No need for W-2s or tax returns that don’t reflect your true income.
A Path to Homeownership When Traditional Loans Miss the Mark.
If you have been turned down for a mortgage by traditional lenders due to credit history, income type or property type, Non-QM could be your solution. It opens the door for qualified borrowers that don’t fit the conventional mortgage box.
Purchase, Refinance or Consolidate Debt
with a Non-QM Home loan today!
Want to talk to a member of our team? 1-833-394-8404