Non-QM Home Loans

The alternative solution for conventional problems

We Have More Options for Non-QM Home Loans Than Other Brokers

Non-QM (non-qualified mortgage) home loans are mortgages that do not meet the guidelines set by government-sponsored enterprises such as Fannie Mae or Freddie Mac. These loans are typically offered by private lenders and have different qualifying criteria and underwriting guidelines compared to conventional mortgages. Some of the main options for Non-QM home loans include:

  1. Bank statement loans: These loans are designed for self-employed borrowers who have difficulty documenting their income through traditional means. Instead, lenders review the borrower's bank statements to determine their ability to repay the loan.

  2. 1099 loans: These loans are perfect for contractors that receive income via a 1099 from multiple income sources. Rather than using your “taxable income” we use your gross income as we would for a W2 wage earner.

  3. Asset depletion loans: These loans are ideal for borrowers with a high net worth but low monthly income. The lender considers the borrower's assets and uses a formula to determine their ability to make mortgage payments.

  4. Interest-only loans: With an interest-only loan, the borrower only pays the interest on the loan for a set period, typically five to ten years. After the interest-only period ends, the borrower begins paying principal and interest.

  5. Non-warrantable condos: These are condominiums that do not meet Fannie Mae or Freddie Mac's guidelines. These loans are typically offered to borrowers who want to buy a condo that is not eligible for a conventional mortgage.

The Non-QM Home Loan Process:

  • Complete our simple 5-minute online application

  • Receive options based on your unique criteria and scenario

  • Compare mortgage interest rates and terms

  • Choose the offer that best fits your needs

Why choose a Non-QM loan?

Non-QM home loans are perfect for self-employed borrower’s that write off their business expenses on their taxes. Fannie Mae, Freddie Mac, FHA, the big government backed funding sources, require that we use your taxable income to calculate your debt-to-income ratio. When you write off your expenses, your income can quickly go from hundreds of thousands of dollars to a loss in the eyes of the IRS and traditional mortgage lenders. Non-QM loans allow us to use your real income to qualify you for a home loan.