NON QM Loans

Non-QM Loans: Options for Unique Borrower Profiles

A Non-Qualified Mortgage (Non-QM) Loan is a type of mortgage that does not meet the qualified mortgage standards established by the Consumer Financial Protection Bureau (CFPB). Unlike conventional loans, Non-QM Loans provide options for borrowers who may not meet strict income, asset, or credit requirements.

Features of a Non-QM Loan:

  • Flexible qualification criteria: Non-QM Loans offer flexibility in the qualification process. They consider a wider range of factors beyond traditional metrics, such as debt-to-income (DTI) ratio or credit score, to determine eligibility.
  • Variety of loan programs: Non-QM Loans encompass a variety of loan programs designed to cater to unique borrower circumstances. These programs include bank statement loans, asset depletion loans, interest-only loans, and more.
  • Expanded debt-to-income ratio: Non-QM Loans may allow for higher DTI ratios compared to conventional loans. This can be beneficial for self-employed individuals or borrowers with substantial assets but inconsistent income.
  • Alternative documentation options: Non-QM Loans may accept alternative documentation, such as bank statements, to verify income and assets. This can benefit borrowers with non-traditional income sources or complex financial situations.
  • Investment property financing: Non-QM Loans can be utilized for investment properties, allowing real estate investors to access financing options beyond conventional loan limits and guidelines.

Benefits of a Non-QM Loan:

  • Increased access to financing: Non-QM Loans provide opportunities for borrowers who may not qualify for conventional loans due to unique circumstances, such as self-employment, complex income sources, or non-traditional credit history.
  • Flexibility in underwriting: Non-QM Loans offer more flexibility in the underwriting process, considering a broader range of borrower factors. This allows for a more personalized and holistic assessment of creditworthiness.
  • Tailored loan solutions: Non-QM Loans provide tailored loan programs to match the specific needs of borrowers, offering more options and flexibility to meet their financing requirements.
  • Opportunity for homeownership or investment: Non-QM Loans enable borrowers to achieve their homeownership goals or expand their real estate investment portfolio, even if they don't meet traditional lending standards.
  • Faster approval and closing: Non-QM Loans often have streamlined approval processes, resulting in quicker loan approval and closing times compared to traditional mortgages.

Non QM Loans We Offer:

  • DSCR - Debt Service Coverage Ratio Loans
  • Fix & Flip Loans
  • Short Term Rental Income Properties Loans
  • Bank Statement Loans
  • Profit & Loss Statement Loans
  • 1099 Loans 
  • No Income / No DTI Loans
  • Condotel & Non-Warrantable Condo Loans
  • Bridge Loans
  • And more...

It's important to note that Non-QM Loans may have different qualification requirements and may carry higher interest rates or fees compared to conventional loans. However, they provide valuable options for borrowers who do not meet the strict guidelines of qualified mortgages.

If you're looking for a mortgage outside the traditional lending criteria, a Non-QM Loan can offer the flexibility and opportunities you need. Contact us today to learn more and explore how a Non-QM Loan can help you achieve your homeownership or real estate investment goals.

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Alliance Mortgage Lending is a Mortgage Broker in San Clemente, we provide Non QM Loans and DSCR Loans in all of California, including these counties: Orange County, San Diego County, Los Angeles County, Riverside County, San Bernardino County, Alameda County, Contra Cost County, Marin County, Monterey County, Napa County, San Benito County, San Francisco County, San Mateo County, Santa Cruz County, Sonoma County and Ventura County.