Non QM Loans

Also known as subprime or second-chance lending.

Non QM loans, or non Qualified Mortgage loans, do not meet the criteria set by the Consumer Financial Protection Bureau (CFPB) for a qualified mortgage. We understand that not all borrowers fit into the narrow guidelines of a qualified mortgage. That’s why we offer non-QM loans as an alternative option for those who need more flexible lending terms.

Here are some key features of non-QM loans:

  1. No requirement for debt-to-income (DTI) ratio – Qualified mortgages have a strict requirement for the borrower’s DTI ratio. However, non-QM loans allow for a higher DTI ratio, which can help borrowers who have higher levels of debt.
  2. More flexible income verification – Non-QM loans may allow for alternative forms of income verification, such as bank statements, asset depletion, or other non-traditional sources of income.
  3. No loan limit restrictions – Unlike conforming or jumbo loans, non-QM loans do not have a maximum loan limit, which means that borrowers can potentially borrow more money to finance their homes.
  4. No requirement for mortgage insurance – Non-QM loans do not require borrowers to pay for mortgage insurance, which can save borrowers money over the life of the loan.
  5. More flexible credit history – Non-QM loans may allow for more flexible credit history, such as recent bankruptcies, foreclosures, or late payments.

At Intercontinental Ultimate Solutions, we understand that every borrower’s situation is unique. Our team of experts can help you understand the requirements for non-QM loans and find the best loan options for your specific needs. We work with a variety of lenders who offer non-QM loans, and we can help you find the loan that fits your unique situation.

If you have been turned down for a traditional mortgage loan or have unique circumstances that require more flexible lending terms, contact us today to learn more about non-QM loans. We are here to help you find the right mortgage loan for your needs and achieve your homeownership goals. Click here to contact us or call (561) 717-6826 for a quote.

Additional restrictions may apply. Please inquire. All loans are subject to credit approval.