Non-QM Loans in Kansas

At Mortgage Squad, we understand that traditional mortgage options may not always fit every borrower’s financial situation. That’s why we offer Non-QM Loans, providing flexible financing solutions for those who fall outside the qualifications for conventional mortgages.

What Are Non-QM Loans?

Non-Qualified Mortgages (Non-QM) are loans that do not adhere to the strict criteria of conventional loans. They are designed for borrowers with:

• Non-traditional income: Self-employed individuals, freelancers, and commission-based earners can benefit from these loans.
• Recent credit events: If you’ve faced bankruptcy, foreclosure, or other credit challenges, non-QM loans offer alternative ways to assess creditworthiness.
• High debt-to-income ratios: Non-QM loans often allow for higher DTI ratios compared to conventional mortgages.

Non-QM Loan Options We Offer

We work with trusted lenders to offer a range of Non-QM Loan programs, including:

• Stated Income Loans: Qualify based on your stated income, verified through bank statements or tax returns, rather than relying on W-2s.
• Asset-Based Loans: Use your assets, like investment portfolios or real estate, to qualify, even with limited income documentation.
• Doc-Lite Loans: These loans require fewer traditional income verification documents, streamlining the process.
• Bridge Loans: Short-term financing to help with property purchases or renovations while securing long-term financing.

Benefits of Choosing Non-QM Loans with Mortgage Squad

• Access Homeownership: Non-QM loans open up opportunities for borrowers who might not qualify for traditional mortgages.
• Flexible Qualification: Greater flexibility with debt-to-income ratios and income verification.
• Expert Loan Officers: Our experienced team will guide you through the process with clear communication and expert advice.

Am I Eligible for a Non-QM Loan?

Eligibility criteria can vary by program, but general factors include:

• Credit score: Some non-QM loans accommodate lower credit scores than conventional mortgages.
• Debt-to-income ratio: Higher DTI ratios may be accepted for non-QM loans.
• Income verification: Alternative methods of verifying income may be used.

Get Started with Your Non-QM Loan Journey

• Contact a Loan Officer: Our team will help assess your situation and find the right non-QM loan options for you.
• Gather Documents: Be ready with documents like bank statements, tax returns, and asset documentation.
• Apply: We’ll guide you through the application process, ensuring it’s smooth and efficient.

Additional Resources for Non-QM Loans

• National Association of Mortgage Brokers (NAMB)
• Mortgage Bankers Association (MBA)
• Consumer Financial Protection Bureau (CFPB)

At Mortgage Squad, we believe in offering accessible home financing solutions, no matter your financial situation. Contact us today to explore your non-QM loan options!