Learn more about Non-Qualified Mortgages
An out-of-the-box loan that’s as unique as your situation
Non-Qualified Mortgages, or Non-QM Loans, are loans for those who don’t fall under the conditions of most traditional loans. It’s a great alternative if you don’t qualify for a Conventional Loan.
A few key benefits of Non-QM Loans:
- Flexible income and credit requirements – Non-QM Loans are available to those who have higher debt-to-income ratios or lower credit scores—with the expectation that there may be higher rates or other more stringent terms.
- More forms of documentation accepted – Due to the nature of self-employment, Non-QM Loans use more flexible methods of income verification than traditional loans.
A Non-QM Loan might be a good fit if you:
- Are a self-employed, contract, or gig worker
- Have the income and means to pay for a mortgage, but do not qualify for Conventional Loans
- Want specific options a Conventional Loan does not cover
Don’t let myths about Non-QM Loans hold you back
Myth #1: Non-QM Loans are dangerous False! Non-QM Loans work just like traditional mortgages. You will still be required to meet the terms of the loan.
Myth #2: Non-QM Loans take a long time to close Not true! In most cases, Non-QM Loans can close in as little as 30 days.