Non Qualified Mortgage

BORROWERS THAT FALL OUTSIDE OF QUALIFYING FOR A TRADITIONAL MORTGAGE MAY BE ELIGIBLE FOR A NON-QM MORTGAGE.  THESE TYPES OF LOANS ARE FROM PRIVATE INVESTORS AND LENDING INSTITUTIONS WHO OFFER SPECIFIC PROGRAMS TO BORROWERS WHO ARE NOT ELIGIBLE FOR OTHER TYPES OF LOANS.

A borrower applying for a non-QM mortgage might go this route because:

  • Recent bankruptcy or foreclosure
  • Unique property type that is not eligible for other financing
  • Self-employed borrowers who may need to rely on bank statements, 1099’s, or P&L’s for qualifying income
  • DSCR Investor Loans,
  • Asset Depletion Loans,
  • Bridge Loans,
  • 5-8 Unit Residential,
  • Fix & Flip/Rent Loans,
  • Soft Money Commercial,
  • Multi-Family to 30-units,
  • Mixed Use, Warehouse, Self-Storage, etc.
  • Foreign nationals
  • The rates and fees for these types of loans are typically higher than with a traditional mortgage.

It is a viable option to get approved for a loan that a traditional mortgage doesn’t have a place for. There are no standard guidelines or criteria for these types of loans. To see if you’re eligible, please contact me below to review your particular scenario.