NON-QM LOANS

Expanded Loan Solutions

Looking for a mortgage that fits your unique financial situation? Our expanded loan solutions are tailored to your needs, opening doors to homeownership without the constraints of traditional loan requirements.

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What Are Expanded Loan Solutions?

Non-QM loans are various home loans designed to break free from the rules of traditional mortgages, offering a flexible path to homeownership for borrowers with unique financial circumstances. Whether you’re self-employed, have non-traditional income, or need a more tailored approach, these solutions open the door to possibilities that standard loans might overlook—making your dream home more attainable.

Eligibility
Requirements

Eligibility requirements vary by lender but are typically more flexible than traditional mortgages. These flexible requirements make our loan solutions excellent options for clients with diverse financial situations.

Income Verification

Alternative documentation, such as bank statements, profit-and-loss statements, or asset depletion, instead of traditional W-2s or tax returns.

Credit History

Wider acceptance of lower credit scores or recent credit events like bankruptcy or foreclosure.

Debt-to-Income Ratio (DTI)

Higher DTI ratios may be allowed, depending on your overall financial profile. The average DTI for expanded loans is 38%.

Down Payment

Typically requires a larger down payment compared to traditional loans, about 10-20%, though specific amounts vary.

Loan Purpose

Suitable for primary residences, investment properties, or second homes.

Cash Flow

For investment properties, qualification may be based on the property’s rental income rather than the your personal income.

Benefits of Expanded Loan Solutions

vs. Traditional Loans

With greater flexibility and personalized solutions, expanded loan solutions are ideal for those seeking options beyond conventional lending. Compare the benefits and right fit for your unique financial situation.

Tailored to
Individual Needs

Unlike traditional loans, non-QM loans are designed based on your unique financial situation.

Faster
Qualification

Less reliance on standard documentation that can expedite the process.

Broader
Opportunities

Allows you to access financing that might not be available through conventional loans.

Exploring Expanded Loan Options

Discover flexible and tailored financing solutions with expanded loan options designed to fit unique financial needs.

Bank Statement Loans: Mortgages that use bank statements to verify income, ideal for self-employed borrowers.

Asset Depletion Loans: Loans that calculate income based on liquid assets, useful for high-net-worth borrowers.

Hard Money Loans: Short-term, asset-based loans secured by property value, often used for real estate investments.

Commercial Loans: Loans designed for purchasing, refinancing, or developing commercial properties like offices or retail spaces.

DSCR (Debt-Service Coverage Ratio) Loans: Loans for real estate investors, qualified based on the property’s Debt Service Coverage Ratio (rental income vs. expenses).

Bridge Loans: Short-term loans that “bridge” the gap between buying a new property and selling an existing one.

Non-Warrantable Condos: Loans for condos that don’t meet conventional lending criteria, such as occupancy rates or financial reserves.

Foreign National Loans: Mortgages for non-U.S. citizens without U.S.-based credit history, often requiring larger down payments.

Cross Collateral Loans: Loans that use multiple properties as collateral to secure financing, common for investors or large transactions.

You might need an expanded loan solution
if you fall into any of these personas…

Self-employed individual

Provide bank statements, profit and loss statements, or asset depletion to demonstrate income and ability to repay.

Recent credit event

We often have more flexible waiting periods for credit events, allowing you to qualify sooner.

High net worth, low income

Asset-based lending is used, where assets like stocks or retirement funds are considered for loan qualification.

Investor with many properties

Consider a DSCR loan, which bases the loan qualification on the cash flow of the property being purchased, not personal income.

Out-of-country borrower

Rely on alternative documentation, such as international credit references, proof of foreign income, and a larger down payment.

Transitioning homeowner

Get a bridge loan, which provides the financial flexibility to transition smoothly, ensuring you don’t miss out on your ideal property.

Other unique financial situation

Don’t know what loan you need? Let us know so we can find an expanded loan solution that makes sense for you.

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Expanded Loan Solutions FAQ

Do non-QM loans have higher interest rates?

Yes, non-QM loans typically have slightly higher interest rates due to the increased flexibility and risk, but they still offer competitive terms.

Can I get an non-QM loan if I’ve had a bankruptcy or foreclosure?

Yes, non-QM loans often allow for recent credit events, such as bankruptcies or foreclosures, as long as you demonstrate the ability to repay.

What types of properties can be financed with a non-QM loan?

Non-QM loans can be used to finance primary residences, second homes, or investment properties.

Can I refinance with a non-QM loan?

Yes, non-QM loans can be used for refinancing, including cash-out refinancing, even if you don’t meet traditional loan requirements.

Are non-QM loans safe?

Yes, non-QM loans are regulated by lenders to ensure you have the ability to repay, even though they don’t meet traditional qualified mortgage standards.

How do I apply for an expanded loan solution?

Start by consulting with one of our loan officers or contact us. We can guide you through the application process and tailor options to your needs.

Mortgage Lending Simplified

Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.

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