If traditional loans don’t work for you due to a lower credit score, unconventional income verification, or a history of bankruptcy or foreclosure, a Non-QM (Non-Qualified Mortgage) Loan may be the solution. These loans offer flexible options for self-employed individuals, real estate investors, retirees, and others who don’t fit into the strict criteria of conventional mortgage products.

Non-QM loans provide alternative ways to qualify for financing, making them ideal for borrowers with unique financial circumstances.

Why Choose a Non-QM Loan?

Non-QM loans give borrowers the flexibility to qualify without having to meet the rigid requirements of traditional loans. Whether you’re self-employed with fluctuating income, a foreign national without U.S. credit history, or someone with substantial assets but no regular income, a Non-QM loan can be tailored to your needs.

Key Non-QM Loan Options

Self-Employed Bank Statement Loans

This program allows self-employed borrowers to qualify for a mortgage using bank statements instead of traditional income documentation like tax returns. It’s ideal for individuals with fluctuating income who have difficulty qualifying for conventional loans.

• Ideal for:
  • Self-employed individuals with inconsistent income.
  • Business owners whose tax returns may not reflect their true earning power.
• Key Benefits:
  • No need for traditional tax return documentation.
  • Qualification based on bank statements reflecting cash flow.
  • Flexible underwriting for those with complex income streams.

ITIN Loans

This program allows borrowers without a Social Security number but with an Individual Taxpayer Identification Number (ITIN) to qualify for a mortgage. It is designed for non-U.S. citizens who reside and work in the U.S.

• Ideal for:
  • Borrowers without a Social Security number.
  • Self-employed individuals or those with alternative income sources.
  • Borrowers with limited or no U.S. credit history.
• Key Benefits:
  • Flexible income verification using bank statements.
  • No need for a Social Security number to apply.
  • Opportunity to build credit in the U.S.

Foreign National Loans

This program is tailored for non-U.S. citizens who want to invest in U.S. property. It offers flexible terms and income verification options, making it easier for international investors to purchase homes or investment properties in the U.S.

• Ideal for:
  • Foreign nationals looking to buy U.S. real estate.
  • Non-resident investors seeking flexible qualification methods.
• Key Benefits:
  • No U.S. credit history required.
  • Flexible income verification options.
  • Perfect for purchasing vacation homes or investment properties.

DSCR (Debt Service Coverage Ratio) Loans

This program is designed specifically for real estate investors. It allows borrowers to qualify based on the cash flow generated by the property they’re purchasing or refinancing, rather than personal income.

• Ideal for:
  • Real estate investors purchasing or refinancing rental properties.
  • Borrowers with fluctuating or complex income sources.
• Key Benefits:
  • Qualification based on the rental income of the property.
  • No personal income verification required.
  • Ideal for growing a portfolio of investment properties.

Asset Utilization Loans

This program allows borrowers to qualify for a mortgage by leveraging their liquid assets (such as savings, stocks, or retirement accounts) instead of traditional income. This option is ideal for individuals with significant assets but without regular monthly income, such as retirees or high-net-worth individuals.

• Ideal for:
  • Retirees or individuals with large liquid assets but no traditional income.
  • Self-employed or entrepreneurs with fluctuating incomes.
  • High-net-worth individuals looking to qualify for higher loan amounts.
• Key Benefits:
  • No need for traditional income verification through tax returns.
  • Qualification based on liquid assets, such as cash, investments, or retirement accounts.
  • Higher loan amounts possible based on asset value.

Who Would Benefit From a Non-QM Loan?

Non-QM loans are an excellent option for borrowers who:

• Are self-employed and struggle with traditional income documentation.
• Are real estate investors seeking to qualify based on rental property income.
• Are foreign nationals looking to purchase or invest in U.S. real estate.
• Have experienced bankruptcy, foreclosure, or a short sale and need flexible lending options.
• Have significant assets and wish to qualify using their asset value instead of regular income.

Let Prime Choice Funding Help You Find the Right Loan

At Prime Choice Funding, we specialize in creating custom lending solutions that fit your unique needs. Whether you’re a self-employed borrower, an investor, or someone with a non-traditional financial background, we have a product that fits your needs. Our team is dedicated to helping you secure the right loan for your homeownership or investment goals.

Call us at (877) 787-7463 or Click Here to Get Started.