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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The Different Types of Non-QM Mortgages

The first place to start is to learn the different types of Non-QM Mortgages.

Non-QM loans are available for owner occupied properties, foreign national home purchases and non-owner-occupied properties like investment properties or second homes. However not all lenders will offer each type of non-QM loan, so you'll need to do your research before choosing one over another based-on interest rates or fees involved.

Foreign National Home Loans
This type of home loan is designed for foreign nationals who have established residency in the U.S. but have not yet become citizens. In order to qualify, you must prove that you have been living in the country for at least three years and pass a background check. Foreign national home loans are typically lower than conventional mortgages because lenders assume additional risk when making these loans. The main reason foreign nationals may be able to afford higher-priced homes than typical Americans is that their salaries are often higher overseas, even after adjusting for cost-of-living differences between countries (i.e., how much more expensive it is to live in certain cities).

Owner Occupied Home Loans

Owner-occupier loans are designed for borrowers who want to buy a home. Borrowers can use an owner-occupied loan to purchase any type of property, from a condo in the city to a house on the beach. If you're buying a second home or vacation home, this type of mortgage will allow you to build equity in it over time just like any other investment.

Non-Owner-Occupied Property Loans
Non-owner-occupied property loans are typically used to purchase an investment property, such as a second home, rental unit, or another form of commercial real estate. While there are many variations of this type of loan, they all have one thing in common: the borrower does not plan to live in the home purchased with this mortgage.

Key Points

Types of Income Verification Options for Non-QM

Here are a few of the income-verification options available when applying for a non-QM loan. Your New American Funding Loan Officer can help you understand the variety of ways you can verify your income, which helps all manner of people with non-traditional financial profiles.

One-Year Tax Return Program

  • Borrowers who amortize must be self-employed for two years.
  • Personal tax returns for past year including all schedules and attachments.
  • Business tax returns for same year with all schedules
  • Signed business Profit and Loss statement in many cases.

Bank Statement Program

  • Personal or business statements
  • 100% of eligible deposits from personal and business accounts
  • Profit and Loss statement required for 12 months or previous year and YTD.

Asset Depletion (purchase or Rate and Term Refinance only, owner-occupied or second homes)

  • 60-day account history required
  • 100% of vested retirement for borrowers over 59 ½ years old and 50% of vested retirement assets if borrowers are under 59 ½ years old.
  • Used 3% rate of return on assets amortized over seven years.

Speed | Service | Satisfaction

Bank Statements Loans 12- & 24-Month 


Loan Amounts up to $5,000,000. 

12-24 Mo Personal or Business Bank Statements allowed.

 Gift Funds Allowed

 Up to 80% LTV Cash out 

Cash out can be used for Reserves. 

First Time Home Buyer Allowed 

40yr Fixed and 40yr I/O Available Appraisal Transfer Allowed Condotel and Non-Warrantable Condo's 

Up to 90% LTV on Purchase

Unleash boundless possibilities with our Bank Statement loan program.

P&L Statement Profit & Loss


LTV's up to 80%LTV

• FICO as low as 660 

• SFR, 2-4 Units, Condominium 

• Condotels or Non-Warrantable Condo OK 

• Purchase, Rate/Term, and Cash Out 

• 40-Yr Fixed, 30-Yr Fixed, Arm and I/O Products Available

Don't let your self-employed clients miss out on the opportunity to own a home. With P&L mortgage loans, you can provide your clients with flexible financing options tailored to their unique financial situation. Our loans are designed for borrowers with fluctuating income and may offer faster processing times and more flexible underwriting guidelines compared to traditional mortgages.



FICO as Low as 640 

• LTV's up to 80% 

• Loan Amounts up to $850,000 

• Low Amounts as Low as $200,000 

• DTI up to 41% • 6 Months Reserves

 • Purchase and Rate and Term Refi 

• SFR, PUD, Condo, 2-4 Units

Introducing the new ITIN loan from. This innovative loan product is designed specifically for individuals with an Individual Taxpayer Identification Number (ITIN), making homeownership more accessible than ever before.

Foreign National


Loan Amounts up to $2,000,000. 

Up to $500,000 Cash in Hand

Foreign Credit OK 

Second Home and Investment OK Condotel and 2-4 Units OK

Self-Employed OK Full Doc, DSCR and Asset Utilization Available

Foreign national mortgage loans offer non-U.S. citizens and foreign residents an opportunity to invest in U.S. real estate. With flexible terms and options to suit different investment strategies, these loans can finance primary residences, vacation homes, and investment properties.

Investor Loans DSCR Debt Service Coverage Ratio


Loan Amounts to $3,500,000 Up To 80% LTV on Purchase 

FICO as Low as 620 

40yr Fixed Term and 40yr 1/0 

No Ratio Available 

First Time Investors Allowed 

Short Term Rental Income (Airbnb, VRBO) 

Cash out can be used for Reserves. 5-8 Units or Mixed Use Allowed*

Build your Empire with DSCR loans.

A DSCR loan can be a good option for Investors who are looking to finance an income-producing property, such as a rental property or a commercial building. Because the loan is based on the property's ability to generate income, rather than the Investor's personal income or credit score.

Equity Advantage: Standalone Second only



Primary, Second Homes & Investment 

PropertiesProperty Types: 

 Eligible: SFR, PUD, Townhome, 2-4 Units, Warrantable Condos Ineligible: Condotels, Commercial/Agricultural, Leasehold Properties, Land Trusts, Age-Restricted Communities, Hobby Farms, Non-Warrantable Condos, Modular, Land Contracts, Rural & Log Homes

Reserves Standard: 

6 Months; Cash-Out may not be used towards reserves; Business assets cannot be used as reserves.

Cash Out $500,000 Max Cash-Out; Minimum 6 mos. seasoning (note date to note date)


US Citizens; Permanent Resident Aliens; Non-Permanent Resident Aliens (w/ a SSN) Foreign Nationals & ITIN borrowers are ineligible; Borrowers w/o a valid SSN are ineligible.


Standard: 3 tradelines reporting for 12+ months or 2 tradelines reporting for 24+ months with activity in the last 12 months or 1 tradeline reporting for 36+ months with activity in the last 12 months (36+ month tradeline must be a mortgage or installment account). Acceptable tradelines must show 0x60 in most recent 12 months from application date.


Sourced or seasoned for 60 days.

Mortgage History


BK / FC / SS / DIL Seasoning

48 Months

State Limitations

Texas: Rate Term only

We are committed to serving and providing Flexible home loan options to as many borrowers as possible and finding solutions to help them in achieving the American Dream of Home Ownership. Our Standalone Second Home Loan product is specifically designed to help borrowers tap into their equity without refinancing.

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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