Non-QM Loans
A Flexible Mortgage Option for Unique Borrowers
Are traditional mortgage requirements keeping you from securing the financing you need? Whether you're self-employed, a real estate investor, or have non-traditional income, a Non-QM loan might be your perfect solution. At USA Loans, we offer customized Non-QM loans designed to meet your unique financial situation. Let us help you secure the home or investment property you’ve been dreaming of.
What is a Non-QM Loan?
A Non-QM loan (Non-Qualified Mortgage) is a type of mortgage that provides flexibility for borrowers who don't fit the standard mortgage criteria. Unlike conventional loans, which require traditional income verification like W-2s and tax returns, Non-QM loans use alternative documentation such as bank statements, rental income, or assets. This approach is ideal for those with unique financial circumstances, like self-employed individuals or those with complex income streams.
How Non-QM Loans Work
Instead of the rigid requirements of traditional mortgages, Non-QM loans evaluate your ability to repay using alternative documentation:
Bank Statements
Typically, 12-24 months of personal or business bank statements are used to assess your income.
Rental Income
If you’re a real estate investor, rental income from your properties can be used to qualify.
Assets
For those with significant liquid assets, you can qualify based on the value of these assets rather than traditional income.
This flexibility allows you to secure financing even if your income doesn’t follow a traditional pattern.
We offer a range of Non-QM loan products to suit different financial situations
Types of Non-QM Loans We Offer
DSCR Loan
Designed for real estate investors, these loans are based on the cash flow generated by rental properties rather than personal income.
Apply now!Bank Statement Loans
Ideal for self-employed individuals, this loan type allows you to qualify based on your bank statements instead of traditional income documents.
Apply now!Foreign National Loans
Available for non-residents purchasing property in the U.S., even without a Social Security number or U.S. credit history.
Apply now!Asset-Based Loans
Qualify based on the value of your liquid assets, such as savings or investment accounts.
Apply now!Interest-Only Loans
Keep your initial payments low with interest-only payments for a set period.
Apply now!Jumbo Loans with 10% Down
Perfect for high-value properties, these loans allow for larger borrowing amounts with a minimal down payment.
Apply now!ITIN Loan
Loan amounts up to $1 million. 80% maximum LTV Purchase. 80% maximum LTV Refinance. 2-year income history
Apply now!Profit & Loss
Designed for borrowers without traditional income documentation, offering loans up to $3 million with a max DTI of 49%. It allows 100% gift funds, accepts business funds, and has no tax return or tradeline requirements.
Apply now!Benefits of Choosing a Non-QM Loan
To qualify for a Non-QM loan, you typically need to meet the following criteria:
- Flexible Underwriting: Qualify with alternative documentation, making it easier for those with non-traditional income sources.
- No Mandatory Waiting Periods: Secure financing sooner, even after recent credit events.
- Higher Loan Limits: Access larger loan amounts, ideal for high-value property purchases.
- Personalized Solutions: We tailor our loan options to fit your unique financial needs, ensuring you get the best possible terms.
Non-QM Loan Requirements
To qualify for a Non-QM loan, you typically need to meet the following criteria:
- Credit Score: A minimum score of 620, though higher scores can secure better rates.
- Bank Statements: Provide 12-24 months of statements for personal or business accounts.
- Down Payment: Typically 10% of the loan amount, though this can vary based on your financial profile.
- Debt-to-Income Ratio: Up to 50%, with some flexibility depending on the loan type.
- Recent Credit Events: More lenient policies for recent bankruptcies or foreclosures, with shorter waiting periods.
Who Should Consider a Non-QM Loan?
Non-QM loans are particularly beneficial for:
Self-Employed Individuals
Secure financing with bank statements, even if your income fluctuates.
Real Estate Investors
Leverage rental income and invest in multiple properties with flexible loan options.
Borrowers with Credit Challenges
Overcome recent bankruptcies, foreclosures, or non-traditional credit histories.
Why Choose USA Loans for Your Non-QM Loan?
At USA Loans, we understand that every borrower’s financial situation is unique. Our team specializes in Non-QM loans, providing expert guidance and personalized service every step of the way. With flexible underwriting, a variety of loan options, and a commitment to making the mortgage process smooth and stress-free, we’re here to help you achieve your financial goals.
Ready to explore the benefits of a Non-QM loan? Our mortgage experts are here to help you find the perfect solution for your financial needs. Fill out our simple online form today to see if you qualify, and take the first step towards securing your new home or investment property.
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