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Non-QM Loans

What is Non-QM?
A non-qualified mortgage (Non-QM) is a loan for borrowers who cannot meet the guidelines of an Agency (Fannie, Freddie) qualified mortgage (QM).
An example is a self-employed borrower who cannot qualify using their tax returns. They need an alternative solution such as a Bank Statement loan to qualify for a home loan.
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How to Qualify

There are several Non-QM loan programs available depending on a borrower’s specific financials. Below are some of the most popular Non-QM programs:

BANK STATEMENT
(PERSONAL OR BUSINESS)

Helps self-employed borrowers qualify by basing income on their cash flow and liquid assets since their tax returns and W-2s of pay stubs alone may not be reflective of their ability to repay.

NO INCOME / HIGH ASSETS

Allows borrowers to qualify for loans using their liquid assets and does not require employment or debt to income to justify ability to repay. For borrowers who have enough assets to buy the home outright, but they don’t want to liquidate their assets to do so.

DEBT SERVICE COVER RATIO
(DSCR)

Helps borrowers qualify based on rental analysis to determine property cash flow versus income and debts.

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RATES AND PRICING VARY. READ DISCLAIMER.

  • Rates, pricing, and terms may vary depending on each specific scenario and sometimes compensating factors of a borrower’s financials may result in better terms.
  • For a quote based on your specific scenario select the Get A Quote option and we’ll provide you a personalized quote.
  • Terms & conditions apply.
  • This is not a commitment to lend.

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