Non-QM Loans
Not everyone fits a bank's checklist. Non-QM (non-qualified mortgage) loans use other ways to show you can afford the loan, so self-employed borrowers, investors and people with unique income can still get financing.
Popular non-QM options
- Bank statement loans - qualify using 12 or 24 months of bank deposits instead of tax returns
- DSCR loans - qualify an investment property on its rental income
- Asset-based loans - qualify using your savings and investments
- ITIN loans - for borrowers with an Individual Taxpayer Identification Number
- Foreign national loans - for buyers who live outside the U.S.
Good to know
Non-QM loans often need a larger down payment and can carry higher rates than conventional loans. Guidelines vary a lot from lender to lender, which is exactly why working with a broker helps.