Non-QM

Nontraditional loans, or Non-QM mortgage loans, are mortgage loans that don't meet the requirements set by the Consumer Financial Protection Bureau's (CFPB) qualified mortgage (QM) rules. Nontraditional loans are typically offered to borrowers who have a high debt-to-income (DTI) ratio, are self-employed, have inconsistent income, or have other unique financial circumstances that make it difficult to meet the strict requirements of QM loans.

Overview

Non-QM loans, also known as non-qualified mortgage loans, are home loans that do not meet the criteria set by the Consumer Financial Protection Bureau (CFPB) for qualified mortgages. These loans are often provided by private lenders and are designed for borrowers who may not qualify for traditional financing due to their unique financial circumstances.

‍

Unlike qualified mortgages, which have standardized criteria to ensure that borrowers can repay the loan, non-QM loans are more flexible and can take into account a wider range of factors, such as a borrower's income sources, employment history, and credit score. This flexibility allows lenders to serve borrowers who may have irregular income, non-traditional employment, or credit issues that would prevent them from qualifying for a traditional mortgage.

‍

Because non-QM loans do not meet the standards set by the CFPB for qualified mortgages, they may have higher interest rates and fees than traditional mortgages. However, they can be a valuable option for borrowers who have unique financial situations and may not qualify for traditional financing. It's important to work with a reputable lender who can help you understand the terms and requirements of a non-QM loan and determine whether it's the right option for your specific needs.

‍

Programs

Non-QM

1099 & WVOE Only

If you are self-employed or an independent contractor looking for access to quick funds without having to go through the lengthy loan approval process, our 1099 & WVOE Only loan may be your best option.
Feature Summary
Minimum of 600 FICO
Loans up to $4 Million to 70% LTV Max
Purch-R/T up to 90% LTV for both

12-24 Months Bank Statements

The flexibility offered from the 12/24 Month Bank Statement loan provides the opportunity to self-employed borrowers who are looking to purchase a property but do not have the traditional proof of income to obtain the loan they are in need of.
Feature Summary
Minimum of 600 FICO
Loans up to $4 Million for Primary to 70% LTV
Loans up to $4 Million for Secondary to 70% LTV

Asset Depletion

If you are an someone who is looking to purchase a property and have significant verifiable assets, look no further. The Asset Depletion loan is a great way for borrowers to utilize the equity from their assets as collateral to obtain the loan they are in need of.
Feature Summary
Minimum of 600 FICO
Loans up to $4 Million for Primary to 70% LTV
Loans up to $3.5 Million for Secondary to 75% LTV

DSCR

The alternative qualification methods and low FICO minimum make the Amres DSCR a one of kind financing solution for borrowers of all kinds. Our DSCR program is designed for experienced real estate investors and qualified borrowers based on cash flows solely from the subject property.
Feature Summary
Minimum of 620 FICO
Loans up to $3.5 Million
No minimum DSCR ratio

DSCR Multi-Units

The Amres DSCR Multi-Unit a unique solution for experienced investors who are looking for the acquisition and financing for 5-10 unit residential investment properties and 2-8 unit mixed-use investment properties.
Feature Summary
660 Min FICO
Loans up to $3.5 Million
Minimum qualifying DSCR 1.0

Foreign National

This specialized loan is offered to international buyers who are in need of financing for a residential property, but may not qualify for a traditional mortgage.
Feature Summary
No FICO Available
Standard Maximum DTI 50%
Loans up to $3 Million

Full Doc 1-2yr

Calling all self-employed borrowers, small business owners and other individuals in need of a short term loan. The Full Doc 1-2 year loan is a great option for those who are looking to purchase and/or renovate a property while being able to avoid high interest on payments.
Feature Summary
Minimum of 600 FICO
Loans up to $4 Million for primary to 70% LTV
Loans up to $4 Million for Secondary to 70% LTV

ITIN

Designed for individuals who can't obtain an SSN, an ITIN loan is a great option for those who may not be able to qualify for traditional mortgage loan.
Feature Summary
Purchase up to 85% LTV available
No Fico or trades up to 75% LTV
All Doc Types

2nds

Our closed ends second mortgage provides an excellent opportunity for borrowers who are looking to finance a second home but do not have the capital necessary on hand.
Feature Summary
Credit Scores starting at 660
Loans starting at $75K up to $350k
Max total combined liens $2.5M