Who can benefit from a Non-QM loan?

Non-QM loans are ideal for borrowers who are self-employed, have fluctuating incomes, or have other non-traditional financial situations that may not fit into conventional loan guidelines.

What is the minimum credit score for a Non-QM loan?

The minimum credit score for a Non-QM loan varies by lender, but typically, these loans are available for borrowers with credit scores as low as 500.

Can I use bank statements to qualify for a Non-QM loan?

Yes, Non-QM loans often allow borrowers to qualify using bank statements instead of traditional income documentation such as W-2s or tax returns.

Are Non-QM loans available for investment properties?

Yes, Non-QM loans can be used for investment properties, offering flexible financing options for real estate investors.

Flexible Non-QM and 2nd Loans for Unique Financial Needs

Discover Flexible Non-QM and 2nd Loan Options 💼

Q: What is a Non-QM loan?

A Non-QM loan, or non-qualified mortgage, is a type of loan that does not meet the standard requirements set by Fannie Mae or Freddie Mac but offers flexibility in underwriting criteria.

Find flexible Non-QM and 2nd loan options that fit your unique financial situation. Corbett Uzel is here to help you explore your choices.

Exploring Non-QM and Second Mortgages? 🏡

Non-Qualified Mortgage (Non-QM) loans offer a flexible alternative for borrowers who may not meet traditional lending criteria. Unlike conventional loans that require strict income and credit documentation, Non-QM loans provide options for self-employed individuals, investors, or those with unique financial circumstances.

Non-QM loans are designed for borrowers who fall outside the traditional guidelines, such as those with irregular income, a need for asset-based qualifications, or recent credit events like bankruptcy. These loans offer flexible terms and underwriting that look beyond standard income verification methods.

Whether you're looking to buy a home, refinance, or invest in real estate, Non-QM loans provide a tailored solution for non-traditional borrowers.

Unsure about flexible financing options? Fill out the form, and we’ll assist you in finding the right solution!

Flexible Mortgage Solutions for Unique Financial Needs – Non-QM Loans

FREQUENTLY ASKED QUESTIONS

Non-QM Loans – Tailored Mortgage Options for Non-Traditional Borrowers

What is a Non-QM loan, and how does it work?

A Non-QM (Non-Qualified Mortgage) loan is a type of mortgage that doesn’t meet the standard criteria set by the Consumer Financial Protection Bureau (CFPB). In Los Angeles, Non-QM loans are ideal for borrowers with unique financial situations, such as self-employed individuals or those with inconsistent income streams.

What are the benefits of choosing a Non-QM loan in Los Angeles?

Choosing a Non-QM loan in Los Angeles offers several benefits, including flexible underwriting standards and the ability to use alternative income documentation. This makes it easier for borrowers with non-traditional financial profiles to secure a mortgage and purchase a home in the competitive Los Angeles market.

How much down payment is needed for a Non-QM loan?

The down payment required for a Non-QM loan in Los Angeles can vary, but it typically ranges from 10% to 20% of the property’s purchase price. A larger down payment can improve your chances of approval and result in more favorable loan terms.

What credit score do I need to qualify for a Non-QM loan.

To qualify for a Non-QM loan in Los Angeles, there isn’t a strict credit score requirement, but having a credit score of at least 620 can improve your chances. Non-QM loans are more flexible with credit criteria, making them accessible to borrowers with varied credit histories.

Are there any specific requirements for Non-QM loans?

Yes, there are specific requirements for Non-QM loans in Los Angeles. These can include providing alternative income documentation, such as bank statements or asset-based income verification. Lenders will also consider your overall financial picture, including debt-to-income ratio and employment history, to ensure you can handle the mortgage payments.