Non-QM Mortgages for the
Self-Employed Borrower & Investor
From business owners to investors & free-lancers. Get a mortgage using your real income. We are here to build relationships. Let us help you with your mortgage journey.
No W2? No Problem. Qualify with
1099 Income, Bank Deposits Or Rental Income
We offer Non-QM Mortgage Loans, including the following types of Non-QM Loans:
- DSCR Investment Property Loans
- Bank Statement Mortgage Loans
- No Ratio Mortgage Loans,
- Stated Income Loans, (for Self-Employed Business Owners).
Bank statement loans are classified as known as “Non-QM mortgage loans”.
If you are a business owner and your CPA writes off too much of your income for your taxes but you make plenty of income through your business, we have loan options that is a non-conventional loan product. Income is proved through deposits of your bank statements, whether it is your personal or your business bank statements, we can help you with a bank statement loan.
We offer both 12 or 24 months of bank statements for income qualification purposes.
We average your deposits from income sources from your business or personal bank statements.
The minimum credit score is 580, but the LTV is going to be decreased pending on multiple factors:
1) FICO score;
2) Purchase or refinance or cash-out refinance;
3) Primary Residence, 2nd home or investment property;
4) typer of property: SFR, Condo, town-home, cabin;
5) Location (Zip Code): built-up area or Rural area.
Down payment requirements for bank statement loans start at 10% down (90 LTV) for a Primary Residence, SFR (Single Family Residence), 700+ Fico Score. Non-Owner occupied (Investment properties) start at 20% down.
1099 Income Only – Non-QM Mortgage Loans
Provide your 1099 Tax Statement. This is for self-employed/Commissioned income
Minimum Fico: 620 Fico Score for 1099 only Non-QM loans
Loan Types for Non-QM Mortgage Loans
- Rate & Term Refinancing
- Cash-Out Refinancing
We lend for:
- Primary Residences
- 2nd Home Financing
- Investment properties
- Non-Conforming Condo’s
- Condo Hotels
- High Rise Condo’s
Interest Rates for Non-QM loans are higher than conventional loans. Call to get a custom quote for a Non-QM loan.
Primary residence and Second (2nd) Home Non-QM Loans do not have pre-payment penalties, as this is standard.
Investment property non-QM loans have pre-payment penalties. They range from 1 to 3 years and can go out for as long as 5 years. The longer the time period for the pre-payment penalty, the lower the rate. The pre-payment penalty can be bought out, have a lower rate by paying points at closing.