Non-QM Loans
Loans built around how you actually earn, not just a W-2.
What are Non-QM Loans?
Non-QM loans do not follow the Qualified Mortgage guidelines used for standard loans. They let lenders look at your full financial picture, which helps borrowers whose income or credit history does not fit a conventional box.
They are commonly used by self-employed borrowers, real estate investors and people with irregular income.
Benefits
- Qualify with bank statements instead of tax returns
- Investor options based on property rental income
- Asset-based qualification for borrowers with significant savings
- Options after a recent credit event
- Flexible structures, including interest-only
Requirements
- Alternative documentation such as 12 to 24 months of bank statements
- Larger down payment than most standard programs
- Reserves to cover several months of payments
- Rates are typically higher than conventional loans
- Program details vary by investor
Frequently asked questions
What does Non-QM mean?
It stands for non-Qualified Mortgage: a loan that does not meet the standard criteria of QM loans.
Can I qualify without tax returns?
Many programs accept bank statements or other documents in place of tax returns.
Are rates higher?
Typically yes, because the loan carries more risk for the investor. We compare options to find the best fit.
Can I use one to buy an investment property?
Yes. Several programs qualify the loan on the property's rental income.
Programs, rates and eligibility are subject to change and to underwriting approval. This page is general information and not a commitment to lend.
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