Non-QM Loans

Non-QM loans are designed to help borrowers achieve their homeownership goals, even if they struggle to qualify for a traditional mortgage.

Most Common Types of Non-QM Loans

  •  Debt Service Coverage Ratio (DSCR) – Qualify for a mortgage on an investment property based on rental revenue.
  • 12 and 24 Month Bank Statement Programs – Self-Employed borrowers can use bank statements to verify net income and qualify.
  • Asset Utilization – Borrowers with little or no income can qualify based on net worth and liquid assets.
  • Foreign National – Financing available for borrowers who aren’t U.S. Residents.
  • Mixed Use – Purchase a property with both residential units and commercial space.
  • P&L Statements – Self-Employed borrowers verify income based on business P&L’s, no tax return required.
  • 1099 Programs – Contractors can qualify without W-2 or Tax Returns.

What Are Down Payment Requirements for Non-QM Loans?

Down payment requirements vary based on program however typically non-traditional loans have a maximum LTV of 80% of the value of the property.

Who Can Qualify for a Non-QM Loan?

Non-QM loans are ideal for borrowers of all types who struggle to qualify for a traditional conventional, FHA or VA loan. If you’ve been denied a loan in the past, speak with a loan officer to see if a Non-QM loan can offer you a second chance at homeownership!

Find Out if a Non-QM Loan Is Right for You