What is a Non-Traditional Mortgage? These home loans are often referred to as Non-QM, Alternative Financing. Think of it as “Unconventional” Home Financing. It simply means it doesn’t conform to Fannie Mae or Freddie Mac Conventional Guidelines. This provides alternative financing options for borrowers with unique income scenarios or other factors that work great for business owners, self-employed borrowers, investors, and others who would not otherwise qualify for a confirming guidelines loan or who want to provide less documentation to buy or refinance a house. Factors such as income source, debt to income ratios, less documentation requirements, tax returns, credit, assets, legal status, and many more variations can used to fit your situation.
We work with most of the nation’s top non-QM lenders and have many unique programs available to fit your situation. Please contact us for more details on the best fit for you.
We’re here to make getting a home loan easier than ever with our technology, tools, expertise, that will guide you along the way. We’ll help you clearly understand the differences between loan programs and options, empowering you to make the best informed decisions on what is right for you. Use our Loan Calculators to estimate monthly payments.
12 or 24 months of Business or Personal Bank Statements
Our 1099 income loan option is for self-employed borrowers who are 1099 workers such as freelancers, uber drivers, door dash, or any other type of contract worker.
1099, and Alternative, and Self-employed borrowers who need an alternative method to show the true cash flow of their business. Freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a home loan under agency guidelines. Self-employed borrowers represent a large underserved market.
DSCR (Debt Service Coverage Ratio), also known as an Investor Cash Flow Loan, allows you to qualify based on rental analysis to determine property cash flow. No personal income required to qualify. This saves you from submitting complicated income statements and tax returns. DSCR is a measurement of a property’s expected cash flow to determine ability to repay the loan.
Investors who want to qualify for investment properties solely on the monthly payment debt being covered by the rental income.
Independent contractors often earn steady income without a traditional W-2. A 1099 income loan may use eligible bank statements or other lender-approved records to evaluate cash flow when tax returns do not show the full picture. Documentation and qualifying calculations vary by program.
Ideal for:
Freelancers, consultants, gig workers, and contract professionals paid on 1099 forms whose income is consistent but difficult to document under standard mortgage guidelines.
Your business income may be strong even when deductions make your tax returns look different from your actual cash flow. Depending on the lender, a non-QM program may review business or personal bank statements, a profit and loss statement, or other approved documents to evaluate income.
Ideal for:
Business owners, sole proprietors, and other self-employed borrowers with established income who need a documentation approach that reflects how their business operates.
Found your next home before your current one is sold? A Buy Before You Sell option may help you purchase first by using eligible home equity or short-term financing while you prepare your current home for sale. The available strategy, timing, and costs depend on your situation and the lender.
Ideal for:
Current homeowners with sufficient equity who want flexibility in the timing of their move and a plan for the overlap between homes.
When you’ve found the home you want to buy but your funds aren’t freed up from a previous property, a Bridge Loan can close the gap. This short-term, interest-only financing helps borrowers purchase an investment property without having to wait for another property to sell, or another source of funds to become available.
Ideal for:
The Bridge Loan is ideal for borrowers who are ready to buy an investment property and prefer to use short-term financing.
If your savings and investments are stronger than your documented monthly income, an asset depletion loan may help. A lender applies a program-specific formula to eligible, verified assets to calculate qualifying income. Account eligibility, documentation, and reserve requirements vary by lender.
Ideal for:
Retirees, investors, and other borrowers with substantial assets who do not qualify through traditional income documentation alone.
An asset utilization loan may use eligible savings, investments, or retirement accounts to help demonstrate your ability to repay when traditional income does not tell the full story. A lender reviews verified assets and calculates qualifying income under its program guidelines.
Ideal for:
Borrowers with meaningful assets and limited, irregular, or hard-to-document monthly income who want another way to qualify.
An interest-only loan may allow you to pay interest, without reducing the principal balance, for an initial period. That can lower the early principal-and-interest payment, but payments typically rise when principal repayment begins. Available terms, rates, and qualification requirements depend on the lender.
Ideal for:
Borrowers with variable cash flow who understand the future payment change and have a clear plan for the larger payment after the interest-only period.
Have a lack of income or credit documentation impeding your home-buying plans? If so, our Alt-Doc Program, short for alternative documentation, provides an alternative. This unique loan option enables flexible qualifying methods such as asset depletion or bank statement submissions to qualify.
Ideal for:
Borrowers who do not meet usual income documentation requirements, but want the chance to qualify using flexible alternatives.
Individual Tax Identification Number (ITIN) loans are for borrowers who do not have Social Security numbers. Borrowers with ITIN cards can qualify for a home loan as long as they meet the eligibility requirements. This loan product is a full-documentation alternative loan offering flexibility for individuals residing in the United States.
Ideal for:
Non-U.S. Citizens who are Non-Permanent Residents who want to purchase a primary residence and has an ITIN but no SSN, no Green Card, and/or their VISA has expired.
Note: If you are a Non-U.S. Citizen who is a Permanent Resident, and you have a Green Card or a valid VISA classification, many programs such as FHA, Conventional, VA, and USDA may be available to you as well as Down Payment Assistance programs.
Qualifying for conventional financing for a U.S. property can be challenging for Foreign Nationals due to agency guideline asset documentation requirements. This is loan program that serves borrowers who want to buy or refinance a second home or investment property but may not live in the United States. Homebuyers can qualify based on the rental income of the property – credit scores are not required to qualify.
Ideal for:
Non-U.S.-citizen borrowers who want to purchase a second home or investment property. This program serves non-resident aliens who hold a visa for temporary residency, not Non-Permanent Resident Alien status.
Many homebuyers face obstacles with qualifying during the underwriting process. If your income history fluctuates or you’re unable to provide the lengthy earnings history required, qualifying for a conventional loan becomes a challenge. This unique program makes it possible for you to qualify for the financing you need, even if your income documentation is limited.
Ideal for:
Borrowers who are self-employed, who own small businesses, who have fluctuating or irregular income, seasonal and gig workers, real estate investors, owners and employees of cash businesses, newly self-employed, those transitioning from recent health, family or other life events, those looking to tap trapped home equity, recent immigrants, and those with disqualified income.
This loan program is designed to provide financing to qualifying borrowers without a debt-to-income calculation or traditional income and employment verification through the U.S. Treasury-certified Community Development Financial Institution (CDFI). “No doc” refers to those income and job records; the lender still reviews credit, property value, down payment or equity, assets, and required reserves under current program guidelines.
Ideal for:
Self-employed borrowers, cash-business scenarios, retirees, recent immigrants, and others with hard-to-document income, those looking to tap trapped home equity, or anyone with non-traditional documentation who has strong credit or equity but cannot show standard W-2s or tax returns.
Non-QM Loan Calculator – Calculate Monthly Mortgage Payments for Home Purchase, Mortgage Refinance, Calculate Affordability, and Debt-To-Income Ratios, etc.
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A standard mortgage does not fit every financial story. Non-QM programs may offer other ways to document income, assets, credit, or property details while still requiring a lender to evaluate your ability to repay. The right option depends on the program and your full financial picture.
If you earn income through 1099 work or your own business, some programs can review bank statements, a profit and loss statement, or other approved records instead of relying only on tax returns.
Eligible savings, investments, or retirement assets may help demonstrate qualifying income when a paycheck does not tell the full story.
Some lenders offer programs for eligible borrowers who have an Individual Taxpayer Identification Number rather than a Social Security number.
A past bankruptcy, foreclosure, limited credit history, or other credit challenge may call for a program with different guidelines. Timing and eligibility vary by lender.
For an eligible investment property, a DSCR program may focus on expected rental cash flow rather than personal income documents.
Some non-QM lenders consider properties that standard programs may not, such as non-warrantable condos or certain manufactured homes. The property must still meet the lender’s requirements.
Non-QM is not a single loan program. We can compare available options and explain the documents, payment structure, and costs before you choose a path.