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Agape Mortgage Group

Non-QM Loans: Flexible Financing Options for Your Home Buying Needs

Non-QM (Non-Qualified Mortgage) loans offer flexible financing for borrowers with unique financial situations. These loans are perfect for self-employed individuals, investors, and those with non-traditional income sources. Find out what you qualify for today!

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4 Easy Steps to Buying Your Home

1. Apply Online

Start your journey to homeownership by submitting a simple online application, providing key financial details to help us match you with the best loan options.

2. Chat with an Expert

Connect with one of our experienced loan experts who will guide you through the process, answer any questions, and help you find the best mortgage solution for your needs.

3. Find Your Home

Once pre-approved, you are ready to start shopping for your perfect home. Don't worry, we're still here to any questions you may have.

4. Close Your Loan

We'll work with your real estate agent to ensure we have everything we need on your home. You'll be funded in as few as 15 days.

Frequently Asked Questions

Here are answers to common questions about this loan, gathered from people like you during our research.

What are Non-QM loans?

Non-QM (Non-Qualified Mortgage) loans provide flexible financing for borrowers who don’t meet the traditional requirements of Qualified Mortgages. These loans are ideal for individuals with unique financial situations, such as self-employed individuals, investors, or those with non-traditional income sources.

Who can benefit from Non-QM loans?

Non-QM loans are ideal for a wide range of borrowers, including:

  • Self-employed individuals who may not have traditional income documentation.
  • Real estate investors looking to use rental income for qualification.
  • Borrowers with substantial assets but limited liquid income.
  • Individuals with unique income sources, such as 1099 earnings or restricted stock.
What types of income are accepted for Non-QM loans?

Documentation requirements for Non-QM loans can vary based on the loan type, but may include:

  • Bank statements (12-24 months).
  • Profit and loss statements.
  • 1099 forms for self-employed or contract workers.
  • Documentation for asset depletion or usage.
  • Full income documentation for traditional applicants.
How do DSCR loans work?

DSCR (Debt Service Coverage Ratio) loans are designed for real estate investors, focusing on the income generated by the property rather than the borrower’s personal income. The lender calculates the Debt Service Coverage Ratio by comparing the property's income to its expenses, making these loans an excellent option for investors.

Are there any down payment requirements for Non-QM loans?

Down payment requirements for Non-QM loans can vary depending on the lender and loan program, but most typically require a minimum of 20% down.

Can I qualify for a Non-QM loan if I have a low credit score?

Although some Non-QM lenders offer more flexibility with credit score requirements, a lower score may still affect your options. It's recommended to consult with a loan expert to explore the best solutions for your situation.

How long does the approval process take for Non-QM loans?

The approval timeline for Non-QM loans can vary based on the lender and the complexity of your financial situation. Typically, it takes anywhere from a few days to a few weeks, depending on the documentation submitted and the lender's review process.

Are Non-QM loans more expensive than traditional loans?

Non-QM loans may have slightly higher interest rates than traditional loans, reflecting the increased risk tied to non-traditional income sources. However, the flexibility they provide can make them a valuable option for many borrowers.

How can I determine if a Non-QM loan is right for me?

Determining if a Non-QM loan is right for you depends on your financial circumstances and borrowing needs. Speaking with a mortgage expert can help you explore your options and find the best solution for your goals.

How do I get started with a Non-QM loan?

To begin the process with a Non-QM loan, reach out to a mortgage lender who specializes in alternative financing. They will assist you with the application, help you collect the required documentation, and answer any questions along the way.

See what our clients say.

Outstanding!!

Nate was awesome to work with. He was efficient and professional. He went absolutely above and beyond for us from start to finish. He was available any and every time we needed him, no matter how many times we reached out. He explained the entire process at every step. I could not recommend him enough and have been telling everyone I know about him.

NATE IS THE GOAT!!!!

Nate is the GOAT!!!! Nate worked with us like a he was a family member trying to hook his relatives up with good rates and good numbers. Nate went above and beyond to make sure my family was set with our dream home. Nate stuck by our side from start to finish even when we hit him with a few curve balls. Nate hit those curveballs out the park for grand slams. Nate was more than a lender; we became good friends along the way. If I had the chance to do this all over again I would choose Nate 10 times out of 10. I am more than grateful for the experience Nate provided. I am recommending my Mother my brother and my Mother-in-law to Nate. WELCOME TO THE FAMILY NATE!!!!!!

Extremely Professional

Nate is extremely professional in the sense that he truly listens to his clients. He was able to help me purchase my first home, by listening and finding solutions to help me get my home. With him, it’s fully all about you — all about helping you pull strings to get you over the line. Thanks again Nate.

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