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NON QM LOANS
NON QM LOANS
A Non-QM loan is for borrowers who don't meet traditional mortgage rules. It works well for self-employed, investors, or those with irregular income or credit issues. These loans use flexible approval methods, like bank statements or assets, instead of just tax returns.
NON-QM Loans Explained
NON-QM loans offer flexible financing solutions for borrowers who may not meet traditional mortgage guidelines. These loans are designed for individuals with unique income sources or credit situations, providing an alternative path to homeownership or investment.
Main Features of Our NON-QM Loans
Flexible Qualification: These loans cater to borrowers with varying credit profiles, self-employed individuals, or those with non-traditional income documentation.
High Loan Amounts: Borrow up to $3.5 million, making it suitable for high-value homes or investment properties.
Diverse Term Options: Choose between 15-year, 30-year, or 40-year fixed terms, as well as interest-only options for added flexibility.
Alternative Documentation: Qualify using bank statements, profit and loss statements, or asset utilization, instead of traditional income documentation.
Why Choose Our NON-QM Loans?
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Tailored Solutions: Perfect for self-employed individuals, investors, or anyone needing more flexible qualifying criteria.
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Maximized Borrowing Power: High loan amounts and flexible qualification standards enable you to purchase or refinance even in complex financial situations.
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Fast Approvals: Streamlined processes ensure timely approvals, allowing you to secure financing when you need it most.
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Credit Flexibility: Designed to accommodate borrowers with lower FICO scores or recent credit events, providing opportunities when traditional loans may not.
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Asset-Based Qualifying: Use your assets as proof of ability to repay, rather than standard income documentation, for a smoother approval process.
Our NON-QM loans provide a practical solution for those seeking non-traditional financing options, with the speed and flexibility you need to achieve your financial goals. Whether you're buying a new home or refinancing an investment property, these loans open doors to greater opportunities.
Qualification Criteria
Determine if Your Project Qualifies for Non QM Loans
Credit Score
Minimum FICO score of 660, No major derogatory credit events (such as foreclosure or bankruptcy) within the past 24 months.
Reserves Requirement
Borrowers must maintain reserves of 6-12 months, depending on the loan amount and property type.
Loan Term
Flexible loan terms available: 15-year, 30-year, or 40-year fixed, Interest-only options are also available for added flexibility.
Property Type
Eligible property types include single-family homes, 2-4 unit properties, condos, and townhomes.
Maximum Loan-to-Value (LTV)
Up to 90% LTV for primary residences, Maximum LTV of 80% for second homes and investment properties.
Prepayment Penalty
Prepayment penalties may apply, depending on the loan terms and property type.
Loan Amount
Loan amounts range from $150,000 to $3.5 million, suitable for a variety of property types and needs.
Liquidity Requirements
Alternative documentation options include bank statements, profit and loss statements, or asset utilization, ideal for self-employed or non-traditional income earners.