Non-QM Bank Statement Qualifying Loan

What is a Non-QM Bank Statement Qualifying Loan?

The Non-QM Bank Statement Qualifying Loan is a finance option for self-employed borrowers who do not qualify using traditional income calculation methods.

This loan is offered to applicants utilizing an analysis of deposits into bank statements rather than through traditional income documentation (such as W2s). This program is designed for applicants who are sound credit risks.

Non-QM Bank Statement Qualifying Requirements

At least one applicant must derive their primary income from Self-employed activity. Co-Applicants who are not self-employed may provide supplemental income from other sources. If the applicant has been self-employed for 1-2 year(s), evidence of two years previous employment in the same line of work is required. The applicant must provide 12-24 months of business and/or personal Bank Statements.

Program Highlights

  • Maximum Loan amount is $2 Million
  • Maximum LTV up to 90%
  • Minimum qualifying credit score of 680
  • Maximum DTI up to 55%
  • At least one applicant must derive their primary income from self-employed activity
  • Broker transactions only

* See our product guides for complete details

What property types are eligible for a Non-QM Bank Statement Qualifying Loan?

  • 1-4 Unit attached and detached properties
  • Warrantable and Non-Warrantable Condos
  • PUDs
  • Mixed use properties

What are the eligible terms?

  • Purchase or Refinance of Primary, Second Homes and Investment properties
  • Fixed Rate 15- and 30-year terms
  • Interest only periods available

    • 30 Year (10yr IO, 20 year fixed)
    • 40 Year (10yr IO, 30 year fixed)
  • Minimum Loan amount: $150,000

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