Not every borrower fits the standard income documentation requirements that conventional lenders require. If you are self-employed, run your own business, earn income from investments, or are new to the United States, you may still qualify for a mortgage through a Non-QM loan program.
Non-QM stands for Non-Qualified Mortgage. These are loan programs that fall outside the standard Fannie Mae and Freddie Mac guidelines. They are designed to serve real borrowers with real financial situations that simply do not fit the traditional documentation mold.
At Lender Express, we work with a wide network of lenders who specialize in Non-QM programs. Our loan officers help you identify which program fits your income type, your assets, and your goals.
WHAT IS A NON-QM LOAN?
A Non-QM loan is a mortgage that does not meet the Consumer Financial Protection Bureau’s definition of a Qualified Mortgage. That does not mean it is a risky or subprime loan. It simply means the borrower’s income is verified differently than through traditional pay stubs or tax returns.
Non-QM loans have been a growing part of the mortgage market since 2010 and serve a large segment of creditworthy borrowers who happen to earn their income outside of traditional employment.
These programs include Bank Statement Loans, P&L Loans, Asset Utilization Loans, ITIN Loans, and Foreign National Loans. Each program has its own documentation approach, credit guidelines, and eligible borrower profile.
NON-QM PROGRAMS WE OFFER
| PROGRAM | URL | CARD DESCRIPTION |
| Bank Statement Loans | https://lenderexpress.com/loan-products/bank-statement-loans/ | Qualify using 12 to 24 months of business or personal bank statements instead of tax returns. Ideal for self-employed borrowers whose tax returns do not reflect their actual income. |
| P&L Loans | https://lenderexpress.com/loan-products/profit-and-loss-loan/ | Use a profit and loss statement prepared by your CPA or accountant to qualify. A strong option for business owners whose financials are tracked through business records. |
| Asset Utilization Loans | https://lenderexpress.com/loan-products/asset-utilization-loan/ | Convert your savings, investments, or retirement accounts into qualifying income. Designed for high-net-worth borrowers with significant assets but limited monthly income on paper. |
| ITIN Loans | https://lenderexpress.com/loan-products/itin-loan/ | Designed for borrowers without a Social Security number who have an Individual Taxpayer Identification Number, verifiable income, and a record of managing finances responsibly. |
| Foreign National Loans | https://lenderexpress.com/loan-products/foreign-national-loan/ | For non-US residents who want to purchase property in the United States. Built for buyers without US credit history or standard US income documentation. |
| DSCR Loans | https://lenderexpress.com/loan-products/dscr-loan/ | For real estate investors. Qualification is based on the rental income the property generates, not the borrower’s personal income. No personal income verification required. |
WHO NON-QM LOANS ARE BEST FOR
- Self-employed borrowers and business owners
- Borrowers whose tax returns understate their actual income
- High-net-worth individuals with significant assets but limited W-2 income
- Real estate investors using rental income to qualify
- Foreign nationals purchasing US property
- ITIN holders without a Social Security number
- Borrowers recently declined for a conventional loan due to income documentation