Quick highlights
- Alternative income documentation
- Asset-based qualifying available
- Foreign nationals accepted by some lenders
- Recent credit events okay
- Higher DTI ratios allowed
- Most property types accepted
Best for:
Self-employed borrowers, real estate investors, foreign nationals, retirees living on assets, and anyone whose situation doesn't fit conventional or government loan boxes.
What's 'Non-QM'?
After the 2008 financial crisis, regulators defined a 'Qualified Mortgage' (QM) with strict standards. Non-QM loans don't meet those exact standards — but they still meet the lender's ability-to-repay rule. They use alternative documentation, accept unique borrowers, and fill gaps that conventional loans can't.
Are Non-QM loans risky?
Modern Non-QM loans are nothing like the no-doc 'stated income' loans of the 2000s. They still require full documentation of ability to repay — just through different documents than W2s and tax returns. Rates are higher than conventional, typically by 1-2%.
Ready to see what you qualify for?
Every situation is different. Let's talk through your specific scenario and shop it across our lender network for the best terms.