Non-QM Loan

Are you best suited for a Non-Qualified Mortgage Loan?
Non-QM loans offer flexible choices for those seeking jumbo loans that do not necessarily meet the guidelines laid out by Fannie Mae and Freddie Mac.
Some parties best suited for a non-QM mortgage loan are borrowers with tax blemishes, self-employed individuals, property investors with over 10 properties, those looking to purchase a vacation home, and many others.

To find out more if you might be one of these parties best suited for this loan, call an industry expert with Federal First Lending at (855)-517-3388

What makes a loan “non-qualified”?
For a loan to be “qualified” or “conventional” it must meet the guidelines set by Fannie Mae and Freddie Mac. When a loan is classified as non-qualified it is typically over their loan limit of $647,200. Other factors that can make a loan non-qualified are relaxed income verifications, higher interest rates to qualify the party for a larger loan amount, and variable styles such as interest only or balloon payment.


Advantages to a Non-QM Loan

There are many advantages to non-qualifying mortgage loans. These include:
Jumbo and Super Jumbo loans well over the $647,200 limit
Style of Payment Options (normal, interest only, balloon)
Offer fixed and adjustable rates
Property can be non-owner occupied