Non-QM Loans: Mortgages Outside the Box
Non-QM (non-qualified mortgage) loans are home loans that use alternative ways to verify your ability to repay. They’re for borrowers who are financially strong but don’t fit the standard guidelines.
Non-QM doesn’t mean low quality. Lenders still have to verify that you can repay the loan. They just accept different documentation, which opens the door for many self-employed borrowers, investors and people with unique situations.
Who it’s for
How it works
Each non-QM program uses a different way to document income or ability to repay. Rates are usually higher than conventional loans, and down payment requirements vary, but the flexibility can make homeownership or an investment possible right now.
Types of Non-QM loans we offer
Common non-QM programs
| Bank statement | Qualify with 12–24 months of deposits |
| 1099-only | Qualify with 1099 forms instead of tax returns |
| Profit and loss (P&L) | Qualify with a CPA-prepared P&L statement |
| Asset depletion | Your assets are converted into qualifying income |
| Recent credit event | Shorter waiting periods after bankruptcy or foreclosure |
| DSCR | Investors qualify on the property’s rental income |
What you need to qualify
- Documentation that matches the program (statements, 1099s, a P&L or asset statements)
- Credit requirements that vary by program
- Documented down payment and reserves
Documents to have ready
- Whatever supports your income: bank statements, 1099s, a P&L or asset statements
- Photo ID
- Information about any past credit events, if applicable
How it works with Amerifi Lending
Frequently asked questions
Are non-QM loans safe?
Yes. Lenders still have to verify your ability to repay. Non-QM simply means the loan falls outside the specific “qualified mortgage” rule set.
Will I be stuck with a higher rate forever?
Not necessarily. Many borrowers refinance into a conventional loan once their documentation or credit supports it.
Helpful guides
Related loan options
Ready to see what you qualify for?
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