Types of Non-Qualified Mortgage Loans

Non-QM loans are designed for borrowers who don't meet traditional mortgage criteria, such as those with self-employed income, limited credit history, or multiple real estate loans.



Bank Statement Loans:

· Approval based on business or personal bank statements (typically 12-24 months).

· Ideal for self-employed individuals without traditional W2 or pay stubs.


No Doc Loans:

· No documentation required for income, assets, or employment verification.

· 30% Down good credit


DSCR (Debt Service Coverage Ratio) Loans:

· Used for borrowers who intend to rent out a property; approval based on the property’s rental income.

· Ideal for real estate investors or self-employed individuals with multiple properties.


Foreign National Loans:

· Loans for self-employed individuals who are not U.S. citizens or permanent residents.

· Often require a larger down payment and higher interest rates.


Bridge Loans:

· Short-term loans used to "bridge" the gap while securing long-term financing or selling a property.

· Suitable for self-employed individuals needing temporary financing.


P&L Loans:

· Approval based on alternative methods of income verification, such as contracts, invoices, or profit-and-loss statements.