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Non-QM Loans in California

Sometimes you need more flexibility than the traditional lending process offers. In those situations, you might need to apply for a non-QM loan.

What is a Non-QM Mortgage?

Non-QM is short for “non-qualifying mortgage.” To understand what a non-qualifying mortgage is, it helps to know what a qualifying mortgage is.

Qualifying loans meet requirements set by the Consumer Financial Protection Bureau (CFPB). Non-QM loans are simply mortgages that do not meet these requirements.

Non-QM loans can sometimes be riskier than qualifying mortgages, or have higher rates or fees. But they offer a number of advantages that make them a suitable choice in a range of different scenarios.

Benefits of Non-QM Mortgages in Corona

  • You will be able to get around traditional documentation requirements. For example, you can apply for a mortgage without a W-2. This is important if you are self-employed, as you do not have this form.
  • Other qualification requirements may also be more relaxed. You may not need to demonstrate an employment history, for instance, and lower credit scores may be acceptable.
  • If you are in search of a wider selection of loan terms than is traditionally offered, a non-QM mortgage may be the way to go.
  • If you are shopping for an investment property, projected income from the property can be taken into account when your qualifications are assessed.

Apply for a Non-QM Mortgage in CA or Beyond

We offer a selection of non-QM mortgage products for different situations, including self-employed borrower loans. During your consultation, you can explain your scenario to us, and we can help you figure out whether a non-QM loan will fit your needs.

Please contact us today at (951) 531-1399 to schedule your mortgage consultation. We work with homebuyers throughout California, Florida, Oregon, Nevada, Colorado and Washington State.

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Call Pacific Mortgage Group Today

Call (951) 531-1399 to learn more about our services and schedule a visit. You can also fill out our contact form and we’ll be happy to get back to you as soon as possible.