Not all borrowers qualify for Conventional or FHA loans due to the strict income and credit requirements. Non-QM loan programs allow for alternative types of income and credit history. Non-QM is not the same as sub-prime. There are many Non-QM programs and more new programs every day. As the market is changing so are the loan programs.

Who benefits from Non-QM loans?

Small business owners, real estate investors, self-employed, Gig workers and anyone with less than perfect credit. QM-lenders are open-minded and will make exceptions.

Is a Non-QM loan right for me?

Are you a borrower with good credit, bad credit, recent bankruptcy, recent foreclosure, recent late payment, retired borrowers, or those without income but substantial assets. Many borrowers who do not qualify for a government and/or conventional loans can now qualify for a non-QM and/or non-traditional mortgage.

Self Employed: some programs we have available include

  • 12 to 24 months bank statements, license for personal statements
  • 2 months bank statements, P&L from Licensed CPA, Enrolled tax agent or Licensed tax preparer
  • P&L last 2 years and YTD from Licensed CPA, Enrolled tax agent or Licensed tax preparer

Programs for 1099 and gig workers

  • Last 2 years 1099’s with YTD

Investor programs

  • DSCR – Ratio of 1 or better (rent / monthly payment) and 6 to 12 months reserves
  • Other more traditional programs available
  • Interest Only loans