Non Qualified Mortgage Loans can be used to purchase primary, secondary, and investment properties. Non QM loans differ from other types of mortgage loans by allowing for different sources of income to be used for qualifying. Non QM mortgages also allow for shorter waiting periods for bankruptcy, foreclosures and short sales and typically allows for unique properties like no warrantable condo’s or condo hotels. Non Qualified Mortgage loans usually require less documentation than Conventional Home Loans, VA Home Loans, FHA Home Loans, or USDA Home Loans which makes for easier qualifying. Subsequently, Non Qualified Mortgage rates are higher due to limited documentation requirements. Non Qualified Mortgages are back by private investment and programs change frequently based on market demands. Examples of NON QM programs are Bank Statement Only,  Debt Service Coverage Loans, Foreign National Programs. For more information on a specific area please contact one of our licensed loan officers.