Alternative Financing for Unique Borrowers
Non-QM Loans
Non-QM Loans provide flexible financing for those with unconventional income or financial profiles. Explore solutions crafted to meet diverse needs, from self-employed professionals to investors.
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Non-QM Loans FAQs
We understand that choosing the right loan can be a big decision. Below are some frequently asked questions to help guide you through the process and find the best solution for your needs.
What is a Non-QM loan?
A Non-QM (Non-Qualified Mortgage) loan is a type of mortgage that doesn't meet the standard criteria set by the Consumer Financial Protection Bureau (CFPB) but still offers flexible financing options.
Who is eligible for a Non-QM loan?
Non-QM loans are ideal for self-employed individuals, investors, and borrowers with unique financial situations that don't fit within traditional lending guidelines.
What is the minimum credit score for a Non-QM loan?
The credit score requirements for Non-QM loans vary depending on the lender, but it’s typically more flexible than conventional loans, often starting around 500-580.
How do Non-QM loans differ from traditional loans?
Non-QM loans provide more flexibility in income verification and credit history, making them ideal for borrowers with irregular income or those who cannot provide traditional documentation.
Can I use a Non-QM loan for investment properties?
Yes, Non-QM loans can be used for investment properties, including multi-family units, and can offer more lenient terms for investors with non-traditional financial backgrounds.
