Non-QM
Non-QM mortgage products that allow you to qualify using better representations of your reliability as a borrower, such as bank statements, your liquid assets, or your credit history.
What is a Non-QM Loan?
A Non-QM loan, or a non-qualified mortgage, is a type of mortgage that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans. Because of the more flexible qualification requirements, Non-QM loans open up real estate investment opportunities to a broader group of individuals.
A Non-QM loan is one that is not required to meet the federal government and Consumer Financial Protection Bureau’s (CFPB) guidelines for qualified mortgages.
What’s the Next Step?
Doing your homework on the basics of mortgage lending early on can set you up for success. Mortgages are not one-size-fits-all products, so you need to know how they work and how they differ from one another. This will help you find what’s best for your situation.
After you’ve obtained your mortgage, take a breather – you just took a major step. Keep your credit clean, avoid taking out other loans or lines of credit.
Do I Qualify?
Take the first step toward the right mortgage. Apply online for expert recommendations from The Mortgage Professionals, Inc..
- Purchase/Refinance
- Cash-out
- First-time Home Buyers
- Great Rates