Loan Programs

Which Mortgage is Right for You?

There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily, we're here to help you choose the best type of home loan for your needs.

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Explore Non-QM Loans: Your Path to Homeownership

What are Non-QM Loans?

Non-QM loans (Non-Qualified Mortgages) provide flexible mortgage solutions for borrowers who do not meet the strict criteria for traditional mortgages. Perfect for self-employed individuals, real estate investors, and those with unique income sources, Non-QM loans offer an alternative path to homeownership.

Who Benefits from Non-QM Loans?

  • Self-Employed Borrowers: If you find it challenging to document your income traditionally, Non-QM loans accept alternative proofs like bank statements.
  • Property Investors: Ideal for purchasing rental or resale properties, these loans accommodate various real estate investment strategies.
  • Individuals with Unique Financial Histories: Suitable for those with recent credit issues or unconventional financial backgrounds who are seeking loan approval.

Features of Non-QM Loans

  • Alternative Income Verification: Non-QM loans provide options beyond traditional income documentation, which can help you qualify based on your actual financial situation.
  • Flexible Debt-to-Income Ratios: Enjoy more lenient DTI requirements, making it easier to qualify for a loan compared to conventional mortgages.
  • Versatile Property Options: Finance unique or non-traditional properties that might not qualify under standard mortgage programs.
  • Competitive Interest Rates: Tailored interest rates that reflect your specific financial scenario, balancing risk and reward effectively.

Why Opt for a Non-QM Loan?

Non-QM loans are designed to help those who cannot secure financing through conventional means. Whether you're looking to invest in property, expand your portfolio, or buy a home, Non-QM loans can provide the flexibility you need to achieve your financial goals.

Ready to Take the Next Step?

Unlock your potential in the real estate market today with a Non-QM loan tailored to your unique financial needs. Contact us now to learn more about our flexible loan options or to start your application process. Let us help you secure the financing you deserve.

Non-QM (Non-Qualified Mortgage) loans offer a variety of types designed to meet the unique needs of borrowers who don't fit the standard criteria for a qualified mortgage. Here are some common types of Non-QM loans:

  1. Bank Statement Loans: These are particularly useful for self-employed individuals or small business owners who may not have traditional income documentation. Instead of W-2 forms or tax returns, lenders analyze bank statements (usually 12 to 24 months) to determine income based on cash flow.
  2. Asset-Based Loans: Instead of income, these loans consider an individual’s liquid assets to qualify for a mortgage. Borrowers demonstrate they have enough assets to cover the loan balance, usually needing to show assets equivalent to a multiple of the loan amount.
  3. Interest-Only Loans: These allow borrowers to pay only the interest on the mortgage for a certain period, usually 5 to 10 years, before larger, principal payments kick in. This can be beneficial for those who expect higher income in the future.
  4. DSCR (Debt Service Coverage Ratio) Loans: Often used by real estate investors, these loans focus on the cash flow generated by the property rather than the personal income of the borrower. The lender examines whether the property’s income covers the mortgage payments.
  5. Foreign National Loans: Designed for non-U.S. citizens who want to purchase property in the United States. These loans often require higher down payments and may have higher interest rates due to perceived higher risks.
  6. Jumbo Loans with Non-QM Features: These are for loan amounts that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. They often incorporate other Non-QM features like alternative income verification or interest-only payments.
  7. Credit Event Borrowers: For individuals who have recent credit events such as bankruptcies, foreclosures, or short sales in their financial history. These loans provide a pathway to homeownership, albeit typically at higher interest rates and with other risk-based adjustments.

Each of these Non-QM loan types is designed to accommodate different financial situations, providing flexibility that isn't usually available with conventional loans.

IGH LTVs & LOAN AMOUNTS (Alt-Doc & Full Doc)

    • $100,000 Minimum Loan Amount
    • 90% LTV to $3,000,000
    • 75% LTV to $3,500,000…
    • …$3,500,001 to $10,000,000+ by exception
  • INTEREST ONLY 30 Yr IO and 40 Yr IO up to 90% LTV
    • 1 Appraisal Loan Amount <= $2.0M
    • 1 Appraisal Loan Amount <= $1.5M
    • TRANSFERS (All but Series A5, C & J Alt-A)
  • BLENDED RATIOS/NON-OCCUPANT INCOME (no occupant dti restrictions - Series F)
    • DSCR - no stated income up to 80% LTV
      • 1st Time Investor
        • Series F if not living Rent Free, max 75% LTV
        • Series H - No Restrictions
      • Living Rent Free
        • Series F with current 12+ month landlord history
        • Series H if marital home or sold home within the last 12 months
      • No Ratio - DSCR < 0.75
        • Series B3 (also Series B, B2 Case-by-case)
        • Series H
      • Short Term Refinance Rentals
        • Series B,B2 B3 & F reduce ltv by 5% (Series J 60% LTV max and 1.25 dscr)
        • Series A1, A5, A7 and H (no LTV reductions)
        • Use AirDNA Comps for Purchase (Series H & J)
      • Vacant Refinances
        • Series F and B3 (also B, B2 by exception)
        • Series H (see matrix) & Series J (refi only lower LTV by 5%)
    • P&L ONLY - no bus. bank statements needed to support income (Series B, B2, B3, G & H)
    • 1099 ONLY - use 90% of 1099 income (Series B, B2, B3, F, H & J)
    • 12 MONTHS BANK STATEMENTS - Personal or Bus. (Series B, B2, B3, C, E, F, H & J)
    • ASSET DEPLETION - can supplement income with other Doc Types (B, B2, B3, E, F & H)
    • Combine Alt-Doc with Non-Self Employed (Series B, B2, B3, C, F & H)
    • Combine different types of Alt-Doc (Series F)
    • Combine Asset Utilization with Full Doc & Alt-Doc (Most programs)
  • SELF-EMPLOYED > 1 Yr and < 2 Years (see guidelines for details)
    • Full Doc (Series B3, F & G)
    • Commission Income (A5, B3, C, F & G)
    • Bank Statements (A5, C, F & H)
    • 100% GIFTS Available on most programs (some restrictions)
    • 30 or 60 Day Seasoning (30 day on Series B3, F & H)
    • As little as 3 Months Reserves (Series B3, F, G & H)
    • Use Cash Out for Reserves
      • No LTV restrictions (Series C, F & H)
      • OK if LTV <= 65% (Series B, B2& B3)
    • No Reserves for R&T
      • <= 65% LTV (Series F)
    • NON-PERM RES ALIEN - Up to 90% LTV
    • FOREIGN NATIONAL - Up to 75% LTV
    • ITIN - Available on Full Doc, P&L and Bank Statements to 80% LTV
    • Unlimited Cash Out Programs Available
    • Recently listed available for OO and NOO
    • 6 Mo. Seasoning to use Appraised Value available
    • 600 MIN FICO (Series G non-prime) / 620 MIN FICO (Series B non-prime)
    • NO FICO &/or NO CREDIT - If US Citizen (Series G only)
    • NO TRADELINES - if Primary Borrower has all 3 Scores (Series B&B3 by exception & H)
    • BK & FORECLOSURE - Series G Recent, Series H 1+ Year, Series B & B3 2+ Years
    • RECENT 90 Day MTG LATEs - Series G
    • USE PRIMARY EARNER SCORE - Full Doc (All) & Alt-Doc (Series B3, E, F & H)
    • NON-WARRANTABLE CONDOS - Most Programs
    • CONDOTELS - Allowed (Series F, G, H)
    • ACRES - 10 to 20 on most programs, 40 Series J, unlimited on Series G
    • RURAL PROPERTIES - Series B3, C, F, G & H
  • 55% DTI - Full Doc (Series B, B2 & B3, see guidelines)
    • In-house Underwriting
    • 1-2 Day(s) Opening and 1-2 Day(s) Underwriting on core products
    • Appraisals Transfers Allowed except on Series A, C & J
    • We use Broker Credit Reports (we don't pull our own)

Loan Program Options

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Conventional Loans

A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.

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FHA Home Loans

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

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VA Loans

VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...

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Jumbo Loans

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $548,250 in...

Fixed Rate

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.

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Adjustable Mortgage

Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...

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Interest Only

Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...

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