FAQs

A Non-QM (Non-Qualified Mortgage) loan is a mortgage product that does not conform to standard lending criteria. It provides alternative financing options for qualified applicants who may not meet conventional loan requirements.

Non-QM loans are designed for individuals with unique financial situations, such as self-employed professionals, property investors, retirees, or those with non-traditional income sources or recent credit challenges.

Yes, Non-QM loans are secure. These mortgages undergo thorough underwriting processes and adhere to responsible lending practices, utilizing more flexible criteria to evaluate borrower eligibility.

Indeed, many Non-QM loan programs offer alternatives to traditional tax return requirements. They may accept documentation such as bank statements, 1099 forms, rental income verification, or asset statements for qualification purposes.

Non-QM loans may have slightly elevated interest rates compared to conventional mortgages. However, the increased flexibility and approval potential often outweigh this difference for many borrowers. Additionally, these rates remain competitive within the market.

The closing timeline for Non-QM loans typically ranges from 21 to 30 days. The exact duration depends on factors such as the specific loan type and the completeness of your documentation.