What is a Non-QM loan?

Non-QM loans are for creditworthy borrowers that don’t fit in the traditional lending box, they provide an alternative financing path to homeownership. There are many reasons someone may struggle to qualify for a traditional mortgage even though they are financially ready to buy. As an example, self-employed individuals, retirees, independent contractors, etc. wouldn’t have pay stubs or W-2s available for income verification. Traditional mortgage lenders typically rely on these to measure the borrowers ability to repay a loan.

This is where a non-qualified mortgage or Non-QM loan comes in – serving borrowers that don’t meet traditional lending requirements. Non-QM loans provide flexibility with the documentation that can be used to verify income – borrowers can use items such as bank statements, social security award letters, business profit and loss statements, asset statements, tax returns or a combination of these items.

Check out the short videos below to hear more about our Non-QM loan programs to help you determine if this solution is a good fit for you!