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NON-QM Mortgage Loans via MLO Financial

Non-QM is a flexible modern mortgage lending program that offers more leniency and more accommodation for a wider variety of financial circumstances that don't have to comply with strict underwriting guidelines of conventional loans and government-insured and guaranteed programs like FHA and VA.


- Easier Income Verification Standards

- Higher Loan Amounts Acceptable

- Lower FICO Scores Can Be Acceptable

- Fixed Assets Can Be Used to Qualify

- Higher LTV Range Acceptable (with Income/Revenue)

- LLCs, Corporations and Trusts Can Qualify

- Can be used for Residential and Commercial Loans

- Investment & Income-Generating Properties Can Qualify

- No Mortgage Insurance Requirements (PMI)

- Good for Self-Employed Borrowers & Business Owners

- Distressed Property Owners & Bankruptcies May Qualify

- Can Work for Asset-Based Buying & Prime Credit

Mortgages which are non-conforming because they have a dollar amount over the purchasing limit set by FNMA / FHLMC are often called "jumbo" mortgages. Mortgages which are non-conforming because they do not meet FNMA / FHLMC underwriting guidelines (such as credit quality or loan-to-value ratio) are sometimes mistakenly called "subprime" mortgages.

A customer who needs a non-QM loan has to know the benefits that are associated with these loans.


The following are some of these benefits:

  • It is not mandatory for a borrower to meet the minimum compulsory waiting period after bankruptcy since they can get a Non-QM loan.

  • The Non-QM loans do not have a long waiting period.

  • One can get a loan when they are bankrupt or face foreclosure.

Interest only loans are the most commonly available loan in the market today as they are favorable for borrowers with an income that is irregular. The customers should know that they can pay interest only on their initial loan and later make a more substantial payment using the principle. Though the qualifications for a non-QM loan is fair, it is imperative to know that the clients still need to provide some evidence of income.

Home buyers can become homeowners through QM loans and later can refinance after they qualify for the QM loans. Further, customers must be informed that if they do not meet the guidelines for QM loans, they can still be eligible for a mortgage with a non-QM loan with no period of waiting.

These loans offer 43% DTI with factors of compensation. Due to the rise in house prices, many buyers can miss the opportunity to buy a house. However, through the existence of non-qualified loan, the buyer can now get a mortgage loan without meeting the required QM qualifications.

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