How it works
Tax returns don't always tell the full story, especially when write-offs lower your taxable income. Non-qualified mortgage (non-QM) programs use alternative documentation to look at your real cash flow.
May be a good fit for
- Self-employed borrowers and business owners
- 1099 contractors and gig workers
- Real estate investors (some programs qualify using the property's rental income, called DSCR)
- Borrowers with significant assets but irregular income
Good to know
- Bank statement programs typically review 12 or 24 months of personal or business statements
- Pricing and down payment requirements are usually higher than conventional loans
- Many programs allow a later refinance into a conventional loan if your situation changes
- Guidelines vary widely by program, so comparing options matters
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This page is general information, not a commitment to lend or a loan approval. Programs, guidelines, fees and availability can change and depend on your credit, income, assets, property and full underwriting. Not all applicants will qualify.