A Non-QM loan, or a nonqualified mortgage, is a type of mortgage for borrowers who don’t meet the traditional requirements for a QM (qualified mortgage) loan.
Traditional financing leaves significant pockets of borrowers without options. Don't leave deals on the table or let conventional loans stall your deals. Reach out today to hear more about Non-QM with Champions Funding.
Non-QM brings opportunities with flexible guidelines and programs like Alt-Doc, DSCR/No Ratio, ITIN, and beyond.
Non-QM creates a new pool of borrowers.
Non-QM saves the deal for loans falling out of agency guidelines.
Market Non-QM to these Borrowers Today
Real Estate Investors
Help expand portfolios with DSCR programs with loan amounts up to $3.5 million. Plus, reserves are required solely for subject properties.
Jumbo Borrowers
Do you have a Jumbo borrower who fell out of investor parameters? Save the deal by quickly closing with a Non-QM loan.
Foreign National & ITIN Borrowers
The American Dream is realized through loan programs for those looking to purchase property in the United States.
Diverse Borrowers
With a CDFI designation, you can tap into an underserved market and simultaneously help to provide equity in homeownership through our community-focused Ally product.
High Asset, No Income Borrowers
A recent change of life like retirement or divorce may disqualify borrowers from traditional options. You've got paths to homeownership to share with Champions' broader qualification metrics.
Self-Employed Borrowers
Tax returns aren't the only way to qualify! Your borrowers can qualify using alternative documentation like bank statements, W2s, or other asset qualifiers.
The Need for Non-QM is Here. Don't Miss Out!
There is no shortage of demand in the market for increasingly flexible financing options for responsible borrowers with fluctuating, limited, or no income documentation. Become an approved Broker Partner and start growing your pipeline today.
We are proud to offer an alternative to traditional agency lending for creditworthy borrowers who have been underserved or underbanked. The Non-QM lending of today is not sub-prime; today's Non-QM is thoughtful and flexible guidelines offering unique opportunities for an expanding market of non-traditional borrowers and investors.
Got Questions About Non-QM? We've Got Answers.
What is a Non-QM loan?
A non-qualified (Non-QM) loan is one that uses non-traditional documentation for verifying qualification. These safe financing options typically use income verification methods like bank statements, 1099s, or asset utilization. With flexibility in their guidelines, Non-QM loans provide access to financing for expanded borrower groups.
Who offers Non-QM loans?
Non-QM loans are offered by mortgage lenders. Champions Funding is a 100% Non-QM lender that specializes in these unique products to extend financing opportunities to non-traditional homebuyers and investors.
Why is Non-QM beneficial?
With borrowers’ earning models changing, having broader methods for financing is a benefit. Additionally, the benefits of Non-QM loans include flexibility for Underwriting guidelines, no personal verification of employment or income (depending on loan products), low Debt Service Coverage Ratio/DSCR (depending on loan products), and increased type of documentation allowable.
What types of loans are considered Non-QM (Non-Qualified Mortgage)?
Non-QM loans allow potential homebuyers and investors expanded opportunities for financing. Champions Funding accepts alternative documentation types on a variety of Non-QM loans to serve more borrowers.
Loan Programs: • Consumer Purpose - No Ratio • Alt-Doc (1099, Bank Statement, P&L, etc.) • Asset-Based Loans • DSCR/No Ratio • Non-U.S. Citizens
Got Questions About Non-QM? We've Got Answers.
What is a Non-QM loan?
A non-qualified (Non-QM) loan is one that uses non-traditional documentation for verifying qualification. These safe financing options typically use income verification methods like bank statements, 1099s, or asset utilization. With flexibility in their guidelines, Non-QM loans provide access to financing for expanded borrower groups.
What is the difference between QM & Non-QM loans?
Both qualified mortgage (QM) and non-qualified (Non-QM) provide financing opportunities for homebuyers. Typically, financial institutions use W2s and paycheck stubs to verify individuals’ ability to pay their loan debt. However, today’s borrowers earn money differently. Non-QM loans are not confined to the regulations of QM loans.
Who offers Non-QM loans?
Non-QM loans are offered by mortgage lenders. Champions Funding is a 100% Non-QM lender that specializes in these unique products to extend financing opportunities to non-traditional homebuyers and investors.
Why is Non-QM beneficial?
With borrowers’ earning models changing, having broader methods for financing is a benefit. Additionally, the benefits of Non-QM loans include flexibility for Underwriting guidelines, no personal verification of employment or income (depending on loan products), low Debt Service Coverage Ratio/DSCR (depending on loan products), and increased type of documentation allowable.
What are some types of Non-QM loans?
Non-QM loans allow potential homebuyers and investors expanded opportunities for financing. Champions Funding offers a variety of Non-QM loans to serve borrowers that require alternative documentation in place of the W2s and paycheck stubs required by agency lenders.
Consider these loan types: • Alt-Doc (1099, Bank Statement, etc.) • Asset-Based Loans • DSCR/No Ratio
What types of documentation are required for Non-QM?
Non-QM loans differ from their traditional counterpart largely in the way that a borrower shows ability to repay the debt. While an agency may require a W2 and paycheck stubs to verify income, a Non-QM loan may not ask for verification of employment at all. The documentation depends on the loan type selected.
Required documentation for Non-QM loans may include the following: • Bank statements • Tax returns • Proof of assets
At Champions Funding, we offer loans to both consumers and investors. To finance investment properties with a DSCR loan, documentation is required to demonstrate the property’s ability to cover the debt.
Want to Learn More About Growing Your Business With the Champs?
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