Non-QM home loans.
For income that tax returns miss.

A non-QM loan is a mortgage that falls outside the Qualified Mortgage rules that most conventional and government loans follow. In practice, it means the lender can verify income in other ways, such as bank deposits, rental income or assets, instead of relying only on tax returns and a standard debt-to-income test. The lender still has to confirm you can repay.

Mostly self-employed borrowers whose tax returns understate their income, real estate investors who want to qualify on rent, borrowers with large assets but irregular income, foreign nationals without a US credit history, and people with a credit event too recent for conventional guidelines.

Non-QM does not mean subprime or unregulated. Lenders must still make a reasonable, good-faith determination that you can repay, and the loans carry the same consumer disclosures as any mortgage. What changes is how income is documented. Pricing is typically higher than conventional to reflect that.

It varies by program. Some programs in our lender network start at 620, and a few consider lower scores with compensating factors. Foreign national programs may use alternative credit instead of a US score. Higher scores generally mean better pricing and more leverage.

Commonly 10% to 25%, depending on the program, credit and occupancy. Bank statement loans for a primary home can go to higher leverage on select programs, while DSCR and foreign national loans usually need more down. Larger down payments improve pricing on almost every program.

Generally, yes, because the lender is accepting alternative documentation and cannot sell the loan to Fannie Mae or Freddie Mac. We do not publish rates. Pricing depends on the program, credit, leverage, property and loan size, and a fit check shows real numbers.

Yes, and many borrowers plan for it. Once your tax returns catch up with your income, or a credit event ages out, a conventional refinance may be cheaper. Check the prepayment penalty first: many investor non-QM loans have one, while most owner-occupied ones do not.

On select programs. Some lenders offer second liens and lines of credit documented with bank statements or other alternative income, for borrowers who want to keep a low-rate first mortgage. Availability and leverage are narrower than on first mortgages.