Non-QM Loan
A non-QM loan is a mortgage that falls outside the Consumer Financial Protection Bureau's Qualified Mortgage standards, often using alternative income documentation.
What Non-QM Loan means
Instead of W-2s and tax returns, non-QM loans may use bank statements, 1099s, assets, or rental income. They serve self-employed borrowers, investors, and foreign nationals at slightly higher rates.
Florida example
A Florida self-employed borrower whose tax returns understate cash flow qualifies with a bank-statement non-QM loan. The flexibility opens financing that a strict conventional file would deny.
What it is
A non-QM loan is a mortgage that falls outside the standard qualified-mortgage rules. It uses flexible ways to prove income, like bank statements.
These loans help self-employed buyers, investors, and others with unique income.
Who it fits
Non-QM loans suit borrowers who do not fit the standard W-2 box. They trade a bit higher rate for far more flexibility.
We work with many non-QM lenders across Florida. Apply now and we will find a program that fits your income.
Related program: Learn more →
Verify the details for your own situation against these government and agency sources: IRS ITIN overview and CFPB non-QM explainer.