Non-QM Loans — Overview
Non-QM (Non-Qualified Mortgage) loans are designed for borrowers who don't fit the standard Fannie Mae/Freddie Mac income documentation box — self-employed business owners, real estate investors, 1099 contractors, high-net-worth individuals, and foreign nationals. Through our wholesale lender network, we offer a full suite of non-QM programs with multiple income verification methods, loan amounts up to $3.5M, and LTVs up to 90% without mortgage insurance.
Key Benefits
Bank Statement Income
Qualify using 12 or 24 months of personal or business bank statements instead of tax returns. We calculate your average monthly deposits (with an expense factor applied for business accounts) to determine your qualifying income. Loan amounts up to $3M, LTVs up to 90%.
1099 & Contractor Income
1099 earners — gig workers, consultants, freelancers — can qualify using 1099 income documentation. No full tax returns required. Multiple programs in our network accept 1099 income verification for purchase and refinance.
P&L Statement Programs
CPA-prepared or self-prepared P&L statements accepted as income documentation. Ideal for business owners whose tax returns don't reflect actual income due to write-offs and deductions.
Asset Utilization / Depletion
High-net-worth borrowers can qualify using liquid assets as imputed income. No employment or income required — your investment accounts, retirement funds, and liquid assets do the qualifying.
Up to 90% LTV — No Mortgage Insurance
Select programs offer up to 90% LTV with no mortgage insurance required. Keep more cash in your pocket at closing and avoid the ongoing PMI cost.
ITIN & Foreign National Programs
We offer programs for ITIN borrowers and foreign national investors. No U.S. credit history required on select programs. Get in touch to discuss your specific situation.
Recent Credit Events Welcome
Borrowers with recent bankruptcy, foreclosure, or short sale may still qualify. Select programs are specifically designed for borrowers who don't yet qualify for conventional financing but have recovered financially.
Self-Employed Friendly
Business owners who write off significant expenses on taxes often show low taxable income. Non-QM bank statement programs use actual deposits, not adjusted gross income, to qualify.
How to Qualify
- ✓ Self-employed, 1099, business owner, or investor with non-traditional income documentation
- ✓ Minimum credit score of 580–620 depending on program and LTV
- ✓ Minimum 10% down payment (90% LTV programs available without PMI)
- ✓ Loan amounts from $100,000 to $3,500,000
- ✓ Primary residence, second home, or investment property eligible
- ✓ ITIN borrowers and foreign nationals eligible on select programs
- ✓ Borrowers with recent credit events eligible on select programs
- ✓ LLC and entity borrowers accepted on investor programs
- ✓ Maximum DTI up to 55% on select programs
Frequently Asked Questions
What is a Non-QM loan?
A Non-QM (Non-Qualified Mortgage) loan is a mortgage that doesn't meet the Consumer Financial Protection Bureau's "Qualified Mortgage" standards — primarily the income documentation requirements. Non-QM loans are portfolio products held by lenders rather than sold to Fannie Mae or Freddie Mac, which gives lenders flexibility to use alternative income documentation methods.
Who is a Non-QM loan best for?
Non-QM loans are ideal for: (1) self-employed business owners whose tax returns show low income due to write-offs, (2) real estate investors who want to qualify on rental income (DSCR), (3) 1099 contractors and gig workers, (4) high-net-worth individuals with significant assets but irregular income, (5) foreign nationals, and (6) borrowers with recent credit events like bankruptcy or foreclosure.
How does a bank statement loan work?
Instead of providing W-2s and tax returns, you provide 12 or 24 months of bank statements. We calculate your average monthly deposits (with an expense factor applied for business accounts) to determine your qualifying income. This is ideal for business owners whose tax returns show lower income due to deductions.
What is the maximum loan amount for a Non-QM loan?
Loan amounts go up to $3,500,000 depending on the program. Start your application and we'll match your loan size to the right program.
Can I get a Non-QM loan with a low credit score?
Yes, though options narrow below 660. Some programs accept credit scores down to 580–620. Most programs offer better rates and higher LTVs at 680+. Start an application and we'll find the best program for your credit profile.
Is mortgage insurance required on Non-QM loans?
Generally no. Non-QM loans are portfolio products and don't follow conventional PMI requirements. Select programs offer up to 90% LTV with no mortgage insurance required.
Can a Non-QM loan be used for investment properties?
Yes. Many non-QM programs cover investment properties. For investment properties specifically, DSCR loans are often the better fit (qualifying on rental income rather than personal income). We'll help you determine whether a bank statement non-QM or a DSCR loan is the right structure for your deal.
What happens after I submit an application?
Once you submit your application or contact us, Steve or Zach will reach out within one business day to review your situation, discuss the best program fit, and outline the next steps toward getting you to the closing table.
Ready to Get Started?
Talk to Steve or Zach today — free consultation, no credit pull required.
Loan Highlights
- Income Doc Methods Bank Stmt, 1099, P&L, Assets, ITIN
- Min Loan Amount $100,000
- Max Loan Amount Up to $3,500,000
- Min Credit Score 580 (program dependent)
- Max LTV Up to 90% (no PMI)
- Max DTI Up to 55%
- Bank Stmt Period 12 or 24 months
- Foreign Nationals Eligible
- ITIN Borrowers Eligible
- Interest-Only Available
- States All 50
