Non-QM Loans
Alternative Mortgage Options
Not everyone has traditional income and W2s to show for it. Whether you're self-employed, an investor, have substantial assets, or don't qualify using standard income documentation, we may have a financing solution designed for your situation.
Overview
What is a Non-QM Loan?
A Non-QM loan, short for non-qualified mortgage, is a home loan that offers more flexible qualification options than many traditional mortgages. Instead of relying only on W2s, pay stubs and conventional debt-to-income calculations, certain Non-QM programs may allow qualified borrowers to use bank statements, liquid assets, rental property cash flow or other documentation to demonstrate their ability to repay. That can make Non-QM financing particularly useful for self-employed home buyers, real estate investors and borrowers whose finances don't fit neatly within traditional lending guidelines.
Highlights
Non-QM Loan features
Who could benefit
A Non-QM Loan might benefit you if you...
- Are self-employed or own a business
- Have strong cash flow but significant business write-offs
- Earn income that isn't easily documented with traditional W2s
- Have substantial liquid assets but limited traditional income
- Are buying or refinancing an investment property
- Want to qualify using a property's rental income
- Use an Individual Taxpayer Identification Number (ITIN)
- Have been told you don't fit traditional mortgage guidelines
Products
Explore our alternate income loan options
DSCR
Qualification is based solely on the cash flow (Debt Service Coverage Ratio) of the subject property
ITIN
Qualify using an Individual Taxpayer Identification Number instead of a Social Security Number
Bank Statement
A letter from a CPA, EA, or licensed tax preparer + 12 months of personal or business bank statements to qualify
Asset Qualifier
Qualification based solely on the amount of your coverage post-closing
1099
Most revent one or two years of 1099s and documentation of income year-to-date are needed to qualify
FAQ
Frequently Asked Questions
We’re here to help! Find answers to your everyday banking questions.
Alternative mortgages are designed for borrowers whose financial situation doesn't fit traditional mortgage guidelines. They use different methods to evaluate eligibility based on the loan program.
No. While bank statement loans are popular with self-employed borrowers, there are also options for investors, borrowers with substantial assets, and eligible ITIN borrowers.
Yes. Our DSCR loan program is specifically designed for eligible real estate investors.
Documentation varies by program. Depending on the loan, you may qualify using assets, bank statements, rental income, or other approved documentation.
