Non-Qualified Mortgage

A non-qualified mortgage (Non-QM) is a mortgage that falls outside of the basic standards met by the Consumer Financial Protection Bureau’s (CFPB) rules for a qualified mortgage.

What is a Non-QM Loan?

Self-employed borrowers, foreign nationals, and borrowers with non-traditional income sources may qualify for a non-qualified mortgage. A non-qualified mortgage can give you a variety of advantages that a typical qualified mortgage can’t offer.

Non-Qualified Mortgage

A non-qualified mortgage (Non-QM) is a mortgage that falls outside of the basic standards met by the Consumer Financial Protection Bureau’s (CFPB) rules for a qualified mortgage. If your current situation does not fit perfectly within the qualified mortgage (QM) loan guidelines, then a non-qualified mortgage may be a great solution for you! A non-qualified mortgage can give you a variety of advantages that a typical qualified mortgage loan can’t offer.

How Can I Benefit from a Non-Qualified Mortgage?

A non-qualified mortgage may benefit those who do not meet the lending guidelines for QM loans. Borrowers within one of the following categories may benefit from a non-qualified mortgage:

  • Self-employed borrowers
  • Real estate investors
  • Foreign Nationals
  • Prime Borrowers (borrowers with low credit scores)
  • Borrowers with significant liquid assets
  • High to debt to income situations
  • Non-Traditional income sources

Types of Non-QM Loans

There are a few different types of non-qualified mortgages that you may qualify for, depending on your exact circumstances and how you are trying to qualify. Some popular non-qualified mortgage programs are interest-only loans, bank statement qualification programs and mortgages with terms greater than 30 years.

Non-Qualified Mortgage Lenders

Mortgage Money Lending is one of the best non-qualified mortgage lenders. We work with a network of investors and lenders, which allows us to offer our clients a multitude of mortgage programs with varying terms and conditions. Many of our clients don’t fit within the traditional mortgage lending standards, and that’s okay! A non-qualified mortgage may be right for you.