Non-QM Loans: Flexible Financing for Unique Borrowers
Non-QM (Non-Qualified Mortgage) loans are designed for borrowers who do not fit the standard Fannie Mae or Freddie Mac guidelines. Whether you are self-employed, have a recent bankruptcy, work as a foreign national, or simply have a complex financial situation, there is likely a Non-QM product that works for you.
Non-QM Loan Programs
- Bank Statement Loans: Use 12 to 24 months of bank statements to prove income instead of tax returns. Perfect for self-employed borrowers who write off a lot of expenses.
- P&L Only Loans: Qualify using a profit and loss statement prepared by your CPA with no full tax returns required.
- VOE Only Loans: Qualify using only a verbal or written employment verification, with no pay stubs or tax returns needed.
- Asset Utilization Loans: Qualify using your investment and retirement account balances as income, even if you are not currently working.
- Recent Bankruptcy or Foreclosure: Some Non-QM lenders allow loan approval the day after a bankruptcy discharge or foreclosure. No long waiting period required.
- No Credit Score Loans: Specialized programs for borrowers who have no traditional credit history but pay all their bills on time.
- ITIN Loans: Financing for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
- Stated Income Loans: Income is stated without full documentation for certain qualified borrowers.
- Foreign National Loans: Programs for non-US citizens purchasing property in the United States.
- Bridge Loans: Short-term financing to bridge the gap between buying a new home and selling your current one.
Is a Non-QM Loan Right for You?
Non-QM loans typically carry slightly higher interest rates than conventional loans because of their flexibility. However, for borrowers who cannot qualify through traditional channels, they are an excellent solution. Many Non-QM borrowers refinance into conventional loans later as their situation improves.
Get Matched to the Right Product
Rob has access to multiple Non-QM lenders and knows which ones work best for each scenario. Call 714-400-2317 or apply by clicking here.
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