A Non-Qualified Mortgage (Non-QM) loan is a type of mortgage loan that allows you to qualify based on alternative methods instead of the traditional income verification required for most loans. Common examples include using bank statements to determine a self-employed borrower’s cash flow, qualifying investors based on the cash flow of the investment property, or using assets as income.
How Does a Non-QM Loan Work?
A Non-QM loan allows applicants to qualify based on alternative methods, instead of the traditional income verification required for most loans. Common examples include bank statements or using assets as income.
Is a Non-QM Loan Right for You?
Contact one of our Non-QM Loan specialists to learn more about how a Non-QM Loan works, find out if you qualify, and review your options.
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NP, Inc. (NMLS # 75597) dba - NP Incorporated; Premier Mortgage Associates; Villa Home Loans; U.S. Mortgage of California; U.S. Mortgage of Nevada; U.S. Mortgage of Wisconsin; NP, Inc.; License No. MB.6761251, James R. Thompson Center, IDFPR-Residential Mortgage Banking, 100 W. Randolph, 9th Floor, Chicago, IL 60601, (844) 768-1713; Complaints – TEXAS: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE COMPANY OR A LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT-OF-POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. nmlsconsumeraccess.org