NON-QM loan
A loan for buyers outside conventional boxes
Get approved when conventional loans aren’t an option with our flexible qualification alternatives.
Self-employed, investor, and foreign national loan option
Non-QM loans offer flexible solutions when conventional and government programs say no. These loans are the go-to option if you’re self-employed, investing in unique properties, or have a complex income documentation or verification scenario.
NON-QM loan benefits
- Alternative income verification using bank statements instead of tax returns
- Higher debt-to-income ratios accepted beyond conventional loan limits
- Recent credit events accommodated with shorter waiting periods after foreclosure or bankruptcy
- Interest-only payment options available to optimize monthly cash flow
- Foreign national programs for non-US citizens looking to purchase property
- Asset depletion qualification using retirement accounts and investment portfolios
Eligibility requirements
- Credit score requirements typically start at 620 with some programs available for lower scores
- Higher interest rates compared to conventional loans reflecting the increased flexibility
- Larger down payments usually required starting at 10-20% depending on program
- Significant cash reserves often needed to demonstrate financial stability
- Ability to repay must be demonstrated through alternative documentation
- Compensating factors required to offset qualification challenges