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What are Non-Qualified mortgages?

Non-qualified mortgages (non-QM). Simply put, give borrowers the ability to qualify for a mortgage using alternative methods of income verification. Alternative methods range from using bank statements, to counting subject property rental income, to P&L statements or 1099 statements. Non-QM loans offer the biggest value to self-employed individuals and anyone unable to qualify by using their tax returns.

What are some Advantages of Non-QM Loans?

There are many advantages of non-QM loans. Here are some of the key advantages which demonstrate the flexibility and usefulness of these programs.

  1. Tremendous underwriting flexibility
  2. No savings or reserves required (in some cases)
  3. Flexibility of interest-only loan options
  4. Non-salaried and unconventional employment accepted
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