Your finances do not have to fit one standard box.
A non-qualified mortgage, or non-QM loan, can offer an alternative documentation path for borrowers with a more individual financial picture.
Could this fit your plans?
- You are self-employed or have a complex income profile.
- You want to compare bank statement, asset-based, or investor financing.
- A standard documentation approach may not reflect your circumstances.
What to have ready
Your exact checklist depends on the lender and your situation. A helpful starting point:
- The income or asset records required by the selected program.
- Property details, intended occupancy, and existing loan information.
- Credit authorization and documentation for down payment, closing costs, and reserves.
How lenders review this loan
These lender-specific examples show details that can shape your options. Your loan team will help you compare the requirements for your situation.
Choose the documentation path
A lender may offer distinct bank statement, P&L, and other income-documentation programs. Each has its own checklist.
Document the business
Self-employed paths can require an income history and independent preparation or verification of business records.
Occupancy changes the review
Primary homes, second homes, and investment properties are assessed under different program criteria. Purchase and refinance options can differ too.
A clear path forward.
Tell us what you have in mind
Start with your goal, property plans, and how you document income. Your loan team will help identify the relevant programs.
Review options with your loan officer
Compare the documentation, estimated costs, and payment structure. Understand what the lender needs before you move forward.
Build your application together
Your team guides you through the requested documents, lender review, and remaining steps toward closing.
Questions about non-qm loans?
What does non-QM mean?
Non-QM means the loan does not meet the Qualified Mortgage definition. It does not mean there is no underwriting: the lender still applies the requirements relevant to the loan.
Which documentation options can I explore?
Depending on your circumstances, options may include bank statements, eligible assets, or an investor-focused program. Your loan officer can explain which records each option requires.
Where do DSCR and investor-purpose P&L-only loans fit?
VirtuaLending offers those investor financing paths through RatePricer. Other non-QM options are reviewed with your loan team through the brokerage.
Let’s find the right next step.
Start with a few details, then work with our loan team to compare your options.
Programs are subject to lender availability, borrower and property eligibility, and underwriting approval. This information is not a commitment to lend.