Non-QM Loan
What is a Non-QM Loan?
If you’re self-employed, a Non-QM loan could be a great financing option. Designed for entrepreneurs, independent business owners, and contractors, these loans provide flexibility for those with non-traditional income streams. Unlike conventional loans, Non-QM loans do not adhere to the strict income verification guidelines set by the Consumer Financial Protection Bureau. This makes them a practical solution for individuals with irregular earnings or significant credit events, such as bankruptcy or foreclosure.
Benefits of Non-QM Loans
- Perfect for self-employed individuals or those with unique financial situations.
- Accepts alternative methods for verifying income.
- Offers a variety of fixed and adjustable loan options.
- Loan amounts up to $2.5 million and cash-out options up to $500,000.
- Available for second homes and investment properties.
- Helps maintain cash liquidity, allowing you to diversify your investments without tying up all your funds in real estate.
- Potential for annual mortgage interest deductions on your taxes (consult a tax advisor for specific advice).
- Provides a buffer against market downturns, protecting your financial investments.
