Non-QM mortgages

Non-QM mortgages:

financing solutions to fit unique needs

If you have the funds to afford a mortgage but are having trouble qualifying for a Conventional loan due to special circumstances, a Non-Qualified Mortgage, commonly called a Non-QM mortgage, may be your VIP ticket to homeownership.

What is a Non-QM loan?

A Non-Qualified Mortgage (Non-QM) loan is a type of mortgage that doesn’t meet the standard criteria set by Conventional loans. These loans are designed to help borrowers with unique financial situations that make it difficult to qualify for traditional mortgages. Non-QM loans offer more flexibility in terms of income criteria, credit history, and other qualifying factors.

Non-QM financing solutions offered by Guild Mortgage

Amazon Employee mortgage:

For new Amazon employees who received a cash sign-on bonus.

Bank Statement mortgage:

Self-employed borrowers are evaluated based on consistent monthly deposits.

Debt-Service Coverage Ratio (DSCR) mortgage:

Allows real estate investors to qualify based on their property’s cash flow instead of personal income or employment verification.

Interest-Only mortgage:

Lowers the initial monthly payment with an interest-only payment requirement, though borrowers have the option to pay more if they’d like.

ITIN mortgage:

For borrowers who have an Individual Tax Identification Number (ITIN) but no Social Security Number.

Medical doctor options:

100% financing for those in the medical field.

Non-Warrantable Condo mortgage:

To use when purchasing condos that don’t meet Conventional loan requirements, such as Condotels.

Restricted Stock Units (RSU) mortgage:

For borrowers who have consistently received RSU/stock options from their employer for the past two years.

Characteristics of Non-QM loans

Flexible income verification:

Non-QM loans allow for alternative income verification methods, making it easier for the self-employed, gig workers and those with non-traditional income sources to qualify.

Credit history consideration:

These loans look beyond the FICO score and take the full picture of your credit history under consideration.

Customizable loan terms:

Non-QM loans offer a variety of loan durations, terms and structures to suit different financial needs.

Guild’s Non-QM loans are ideal for:

Those with past credit issues or limited credit history
Real estate investors
Medical doctors (including dentists, podiatrists, ophthalmologists and veterinarians)
Self-employed or a gig workers
Those with an ITIN but no Social Security Number
Borrowers with a higher amount of debt
Those with employment gaps or who have recently started a new profession
Customers using assets instead of monthly income to qualify
Those looking to buy a non-warrantable condo

Need a loan that doesn’t fit the mold?

Let a Guild loan officer help you find the right mortgage.

Program eligibility varies. Borrower must meet eligibility requirements.

All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

Interested in learning more? Take the first steps with our pre-qualification calculator.