Non-QM loans: where to start.

Understand the term

Qualified Mortgage (QM) describes a category of mortgages with defined product and underwriting requirements. Non-QM refers to financing outside that category. It does not mean that documentation, credit or repayment capacity can be ignored.

The CFPB explains the QM framework for consumer mortgages. Business-purpose investment financing is a separate conversation; do not use a consumer label alone to choose your application path.

CFPB: What is a Qualified Mortgage? ↗

Start with how you use the property

For a home you will live in, use Reside. For a business-purpose investment property, use Invest. Bank statements, a P&L or assets may be relevant in either conversation, depending on the program; the document type alone does not decide the property’s purpose.

Being self-employed is a reason to discuss documentation, not to assume that traditional financing is unavailable. Luke can help you explore the options that fit your situation.

Bring the outline, then review the details

Start with your financing goal, property state, approximate purchase price or value and requested loan amount. Describe how you earn income or the assets you want to discuss. You do not need to upload financial documents to the public scenario form.

• Which documentation could support this request?
• What funds would be needed at closing and afterward?
• How do the payment, fees and terms compare?