What's A Non QM Loan

Non-QM loans are for borrowers who don’t meet traditional guidelines. They focus on a borrower’s financial profile and ability to repay, requiring higher down payments and interest rates compared to traditional options.

A popular type is the DSCR loan, used by investors to see if rental income covers payments without needing tax returns.

Another option is the Bank Statement loan for self-employed borrowers, using 12 to 24 months of bank statements to assess income.

Overall, Non-QM loans provide flexible options for borrowers outside traditional guidelines.