Non QM Loans
Non QM Loans in San Diego
Non qualifying mortgage (QM) loans are generally for borrowers who don’t fit standard mortgage guidelines but can qualify in an alternative way. Non QM loans allow greater flexibility in repaying the loan as well as in qualification.
Non QM Loans 101
- 01. Who It's For
- 02. Benefits
- 03. Eligibility
Is a Non QM Loan Right for Me?
A non QM loan might be right for you if you’re self-employed, have fluctuating income, or own sizeable assets – or if you’re seeking alternate payment terms, such as interest-only.
Benefits of a Non QM Loan
Don’t tick all the boxes for a conventional home loan? You may be able to qualify for a non QM loan!
Regular Income Not Required
Those without a consistent paycheck – like the self-employed, contract workers, and more – can qualify.
If you have a low credit score – or are a foreign national – this can be worked around with non QM loans.
Get Approved Quickly
Non QM loans can be done quickly and easily – and don’t always require lots of paperwork.
Non QM Loan Eligibility Requirements
- Non QM loans have flexible eligibility requirements that differ from person to person depending on your individual situation! Get in touch with UW Funding to learn how you can qualify.
Non QM Loan FAQs
Can I get a non QM loan for an investment property?
Yes! You don’t have to reside in the property for a non QM loan. In fact, a lot of property investors take out non QM loans.
I can’t afford much in repayments right now but I’ve accepted a job that begins in a year and pays a lot more. Can I apply for a non QM loan?
You can. Non QM loans allow flexible payment options: you may be able to pay your interest only for the first year and increase your payments once your new job begins.
Can I refinance to a non QM loan?
Yes you can. If you have an existing home loan, talk to UW Funding about your refinancing options and we’ll help select the best option for you.
What Our Clients Say
Craig was instrumental in me and my wife buying our first home together. He was able to get us a great rate, even with my low [credit] score, and we were able to move into our new home. We are very pleased with the service and professionalism Craig provided us and will continue to work with him for all of our housing finances in the future.
We highly recommend UW Funding. We are on our second home purchase with Craig. You lose sleep buying your first home and it’s comforting to know you have the right lender looking out for your best interests. Two years later, we are on our second home and, just like the first, best rate, no fees and thousands of dollars saved!
We are so glad we trusted Craig with our refinance. We were able to take cash out with absolutely no fees! In hindsight, we wished we would have used him for our purchase. Sure enough, we had a straightforward closing with no surprises and we are truly grateful for our friends referring Craig to us.
Begin Your Home Loan Journey Today
Ready to get started? Get a quick quote or contact Craig to ask questions and discuss your options.