Non-QM Mortgage loans are for every walk of life. Self-employed, entrepreneurs, independent Contractors, real estate investor.
Program helps self-employed borrowers who make enough money to afford a home, but on paper, it looks like they don’t use Tax returns. The good news is that this program requires NO Tax Returns! We allow the business owner to use the deposits in their bank statements as income.
If you have experienced a negative credit event—such as a Bankruptcy, Foreclosure, Short Sale or Deed-in-Lieu, it can take up to 2 – 7 years before you’ll be eligible for a traditional loan program. However, with a Non-QM program, the waiting period is only 12 months to qualify.
If you’re looking for the simplest way to get funding to buy a home as a self-employed borrower, check out our P&L program. It doesn’t get any easier than this! Your tax preparer (must be licensed) can prepare a 1-2 year Profit & Loss Statement. Profit & Loss Statements can be used to secure a loan for your owner-occupied, second home or investment home.
This Home Loan addresses the unique lending needs of 1099 workers. Instead of Tax Returns, we use your actual wages from your 1099 as the qualifying income for your new home loan.
These non-QM programs are designed for the Real Estate investor looking for a low- or no-income documentation loan. No Tax returns are necessary. Market rents are used to qualify for this loan. There are other types of Non-QM loans: Such as: Asset Depletion, Foreign National, and ITIN loans that fit other very specific circumstances.