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Non-QM Loan

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A Non-Qualified  Mortgage Loan does not qualify under classic underwriting guidelines, but may help guarantee financing for a less conventional borrower - exceptional for self employed entrepreneurs or real estate investors.

What is a Non-QM Loan?

Non-Qualified Mortgage (Non-QM) loans are typically for borrowers with incomparable circumstances and for those who don’t fit the normal “qualified-mortgage box”. Often these loans are for borrowers with non-ordinary situations like shifting income, self-employed, independent business owners, contractors, entrepreneurs, artists, etc.

Who Qualifies?

Since you may not meet the criteria for a Qualified Loan, you may be offered a Non Qualified loan. Qualification proceedings vary from the required process and may also change. 

Benefits of a Non-QM Loan

  • It is not essential for a borrower to meet the minimum waiting period after bankruptcy.

  • When dealt with bankruptcy or foreclosure are able to apply for a loan.

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