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Non-QM Loans in Oklahoma
Find lenders offering non-qm loans in Oklahoma. mortgages for borrowers who don't fit the conventional mold.
Typical Rate
6.5% - 10%
Down Payment
10-25%
Term
15-30 years
Closing Time
2-4 weeks
About Non-QM Loans in Oklahoma
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. Whether you're looking to finance a property in Oklahoma's major metros or smaller markets, Non-QM lenders in OK offer loan amounts from $100K to $5M with rates typically ranging from 6.5% - 10%.
Who Should Consider Non-QM Loans?
- Self-employed borrowers
- Bank statement borrowers
- Foreign nationals
- Recent credit events (bankruptcy, foreclosure)
Key Requirements in Oklahoma
- Alternative income documentation
- Down payment 10-25%
- Property appraisal
- Minimum credit score varies (580-680)
Pros and Cons
✅ 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
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