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Non-QM Loans
Mortgages for borrowers who don't fit the conventional mold
Non-Qualified Mortgage (Non-QM) loans are for borrowers who don't meet conventional lending criteria — self-employed, irregular income, recent credit events, or foreign nationals. They use alternative documentation like bank statements, asset depletion, or property cash flow to qualify.
Find Non-QM Lenders →Loan Range
$100K – $5M
Typical Rate
6.5% - 10%
Down Payment
10-25%
Term
15-30 years
Closing Time
2-4 weeks
🎯 Best For
- • Self-employed borrowers
- • Bank statement borrowers
- • Foreign nationals
- • Recent credit events (bankruptcy, foreclosure)
✅ Advantages
- ✓ Alternative income documentation
- ✓ Flexible credit requirements
- ✓ Available soon after credit events
- ✓ Interest-only options
⚠️ Considerations
- • Higher rates than conventional
- • Larger down payment
- • Limited lender options
- • May require reserves
Non-QM Loan Requirements
- ✓ Alternative income documentation
- ✓ Down payment 10-25%
- ✓ Property appraisal
- ✓ Minimum credit score varies (580-680)
Non-QM Loans FAQ
What is a bank statement loan? ▼
A type of Non-QM loan where you qualify using 12-24 months of personal or business bank statements instead of tax returns or W-2s. Popular with self-employed borrowers whose tax returns don't reflect their actual income.
Are Non-QM loans safe? ▼
Yes. Non-QM doesn't mean subprime. These are legitimate mortgage products with responsible underwriting — they just use different documentation methods than conventional loans. They became more regulated after the 2008 crisis.
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