A Non Qualified Mortgage(Non QM) enables borrowers to qualify with more flexibility using alternative sources of documentation, a product not offered by a traditional bank. The typical borrower is self employed who does not report sufficient income on their tax returns.
Benefits
No tax returns required
Qualify with bank statements, assets, or CPA prepared P&L statements.
Primary residences, 2nd homes, and investment properties.
Downpayments as low as 10%.