Non-QM programs have different rates and rules from Conventional and FHA loans that allow self-employed borrowers (who typically aren’t on a traditional payroll system) to apply for a loan.

There is no emphasis on tax returns and pay stubs in the processing phase. Our adaptable lending process allows us to permit alternative documentation instead of pay stubs, tax returns, and W2s.

A Non-QM loan can help qualify borrowers with many income tax write-offs and alternative documentation. The program usually allows for higher loan amounts than Conventional and FHA loans.

We have different Non-QM Loans for primary, secondary, and investment homes.

Premier Alt-Doc: commonly used amongst business owners (self-employed) and wage earners.

DSCR: aka Investor Alt-Doc, this program is specifically for investment properties. DSCR helps borrowers qualify based on rental income versus combined monthly payment obligations of the property (principal and interest + property tax + insurance). The investor’s incomes are not relevant to obtaining a loan.

ITIN: Individual Tax Identification Number (ITIN) loans are for people not eligible for Social Security numbers. ITINs apply to both resident and nonresident aliens for tax-reporting purposes. There is no seasoning for Refinance Cash-Out.

Foreign-National: this program is for borrowers who are non-resident aliens, legally visiting the U.S. periodically, and want to purchase a secondary property or investment property during their visits to the states.

This program differs from ITIN because ITIN is for resident and non-permanent resident aliens who live in the states, while Foreign National is for visiting aliens.

A loan officer will happily guide you on the best option to choose.