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Non-QM Loans
Flexible financing for self-employed, investors, and unique situations.
10%
Min. Down Payment
620+
Min. Credit Score
50%
Max DTI
Overview
Non-QM (Non-Qualified Mortgage) loans offer flexible qualification criteria for borrowers who don't fit traditional lending guidelines. Ideal for self-employed professionals, real estate investors, foreign nationals, and those with unique financial situations. Multiple documentation types accepted.
Key Benefits
- Bank statement income qualification
- Asset-based qualification available
- Foreign national programs
- Recent credit events accepted
- Interest-only payment options
- Multiple property types allowed
Requirements
- 1Minimum credit score of 620
- 2Down payment of 10-25%
- 3Bank statements (12-24 months) for self-employed
- 4Asset documentation for asset-based loans
- 5Higher reserves may be required
Frequently Asked Questions
What is a Non-QM loan?+
A Non-QM loan is a mortgage that does not meet the Consumer Financial Protection Bureau's definition of a Qualified Mortgage. They offer more flexible documentation and qualification requirements for borrowers with non-traditional income.
Who benefits from Non-QM loans?+
Self-employed individuals, real estate investors, foreign nationals, borrowers with recent credit events (bankruptcy, foreclosure), and anyone with non-traditional income documentation.
Are Non-QM loan rates higher?+
Non-QM rates are typically higher than conventional or government loan rates due to the increased flexibility and risk. However, they provide access to homeownership for borrowers who otherwise might not qualify.
Interested in Non-QM Loans?
Get pre-qualified in minutes. No commitment, no impact on your credit score.