Non-Qualified Mortgage
Non-QM loans are a flexible mortgage option designed for borrowers who don't fit into traditional lending boxes. They offer alternative qualification methods, making homeownership accessible to those with unique income situations.
THE DETAILS:
Non-Qualified (Non-QM) Mortgage Loans are typically for borrowers with unique income qualifying circumstances. There are millions of people who may have the income but don’t qualify with their tax returns, W-2s or pay stubs alone. Many people have fluctuating incomes, lump sum incomes or are self-employed. This is not a subprime mortgage or a “stated income” loan. Non-QM loans use alternate methods of income verification to help you get approved for a mortgage loan; such as 1-year tax returns or bank statements
ADVANTAGES :
- Ideal for self-employed and or people with non-traditional financial circumstances
- Alternative income verification methods accepted
- Multiple fixed and adjustable loan options available
- Second homes and investment properties may be eligible
- Non-QM loans means you can stay liquid rather than pouring all of your cash assets into a real estate purchase, allowing you to diversify your investments.