Self-employed · Investors
Non-QM Mortgage Loans
Non-QM (non-qualified mortgage) loans use alternative ways to document income and assets, for borrowers whose finances don't fit standard agency guidelines.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.
How Daniel explains it
Daniel's point here is that a standard agency loan isn't the only kind of mortgage.
Self-employed borrowers, investors, and people with income that's real but hard to document on a tax return may have other paths. Cornerstone underwrites non-QM in-house, and Daniel will match the documentation path to how you actually earn.
How a non-QM loan works
- Bank statement programs, with or without a third-party profit-and-loss statement.
- Asset depletion and asset qualifier programs, which consider qualifying assets.
- One-year income documentation programs.
- DSCR loans for investment property, based on the property's rental income.
- Non-warrantable condominium, ITIN and foreign national programs.
- Options for borrowers with a past credit event, subject to waiting periods, plus reverse mortgage options.
When a non-QM loan may fit
- You're self-employed or have variable income.
- You're investing in rental property.
- Your income or the property doesn't fit standard agency guidelines.
What to know about a non-QM loan
- Non-QM loans often carry different pricing and requirements than agency loans.
- Documentation still matters. It's just a different set of documents.
- Eligibility depends on borrower, property, income, credit and investor guidelines.
Straight answers
Non-QM Loans questions, answered
Is a non-QM loan a "no doc" loan?
No. Non-QM loans use alternative documentation, such as bank statements or assets, instead of the standard set. You still document your ability to repay.
What is a DSCR loan?
A DSCR (debt service coverage ratio) loan is an investment property loan that looks at the property's rental income compared with its payment. It is subject to program requirements.
Alternative documentation options may be available. DSCR and non-QM options are subject to program requirements. Program eligibility depends on borrower, property, income, credit, and investor guidelines.
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Your mortgage starts here.
Ready to take the next step? Start your secure application. Not sure which program fits? Contact Daniel's team and he'll walk through your options in plain English.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.