What Is A Non-QM Loan?

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What Is A Non-QM Loan?
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What Is A Non-QM Loan ?
A Non-QM Loan, also known as a "non-qualified
loan" is a type of residential mortgage loan
designed for borrowers who do not meet the
requirements for a QM loan or qualified mortgage.
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Disadvantages
Advantages

• Typically, your income is not considered.
• No Job history is required.
• Buyers can purchase a home even with low credit
  scores.
• Take a loan easily without any background
  information and time required.

• High Interest Rate

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A Non-QM Loan is Perfect For Borrowers Like -

• Lawyers

• Retirees

• Real Estate Agents

• Small business owners

• Borrowers with low credit scores

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