Non-QM / Investor Loans
The catch-all for non-traditional lending. Self-employed, investor, foreign national, ITIN, sub-580 FICO, no income verification - if you have been told “no” by another lender, this is where we find your “yes.”
Last updated: April 2026
Key Facts
Non-QM (Non-Qualified Mortgage) loans are designed for borrowers who don't fit traditional lending guidelines. Options include bank statement loans, DSCR, asset depletion, 1099-only, ITIN, and foreign national programs. Credit scores from 500-620+ depending on program. Ideal for self-employed borrowers and real estate investors.
What Are Non-QM Loans?
Non-QM (Non-Qualified Mortgage) loans fall outside the standard Fannie Mae and Freddie Mac guidelines. This does not make them risky - it means they use alternative methods to verify income and qualify borrowers. These programs exist because traditional lending guidelines often do not work for entrepreneurs, business owners, investors, and individuals with complex financial situations.
Through Lumin Lending, I have access to dozens of Non-QM investors offering a wide range of programs: bank statement, 1099, P&L, asset utilization, WVOE, DSCR, hard money, bridge loans, foreign national, ITIN, and more. For larger investment properties, our commercial loan programs handle multi-family and mixed-use buildings. If you are looking to tap existing equity, a HELOC can provide flexible access to capital. Whether you are self-employed and write off too much on your taxes, an investor scaling a portfolio, or a foreign national buying U.S. property, there is a program designed for your situation.
Knowledge is power. Understanding what is available helps you make better decisions. Below, I have organized our Non-QM programs into three categories so you can see exactly how we can help.
Self-Employed & Non-Traditional Income
If your income does not fit in a W-2 box, these programs let you qualify the way your finances actually work.
Bank Statement Programs
Use 12 or 24 months of personal or business bank statements to document your income. We calculate income based on deposits, not your tax return.
1099 Income Programs
Independent contractors and gig workers can qualify using 1099 forms instead of full tax returns. If you receive 1099 income, we can use it directly.
Profit & Loss (P&L) Qualification
Qualify using a CPA-prepared or self-prepared profit and loss statement. Ideal for business owners who need a simplified way to document their earnings.
Asset Utilization
High-net-worth borrowers can qualify based on liquid assets rather than monthly income. Your savings, investments, and retirement accounts can work for you.
WVOE (Written Verification of Employment)
For borrowers whose employer can verify income directly. No tax returns, no bank statements - just a written letter from your employer confirming compensation.
Real Estate Investors
Whether you are buying your first rental or adding property number fifty to your portfolio, DSCR, hard money, and bridge loan programs are built for how investors operate.
DSCR - Standard
Debt Service Coverage Ratio loans qualify you based on the rental income the property generates, not your personal income. No tax returns, no employment verification needed.
DSCR - No Ratio
For properties that may not yet have rental income or when DSCR calculations are not favorable. Qualify without needing to prove a specific debt coverage ratio.
DSCR - 5+ Unit Properties
Financing for larger multi-family properties with 5 or more units. These fall outside conventional limits but our DSCR programs handle them with ease.
Fix & Flip / Hard Money
Short-term, asset-based financing for fix-and-flip projects and investment acquisitions. Fast closings, flexible terms, and qualification based on property value - including international hard money for overseas investors.
Bridge Loans
Short-term financing to bridge the gap between purchases. Cash offer programs, investment-to-investment bridges, and primary-to-primary bridges available to move on your timeline.
Scale Without Limits
No limit on the number of financed properties. Whether you have 5 or 50 investment properties, Non-QM programs let you keep growing. Interest-only options available to maximize cash flow.
Unique Situations
Told “no” by another lender? These programs are designed for borrowers who fall outside standard guidelines but still deserve a path to homeownership or investment.
Foreign National Loans
Non-U.S. citizens can purchase or invest in U.S. real estate. No Social Security number required. We work with borrowers worldwide to finance American properties.
ITIN Loans
Individual Taxpayer Identification Number (ITIN) holders can qualify for home financing. If you have an ITIN instead of a Social Security number, we have programs for you.
No Income / No Employment Verification
Asset-based programs that do not require income documentation or employment verification. Qualify based on your down payment, assets, and the property itself.
Sub-580 FICO Options
A lower credit score does not mean you are out of options. We have Non-QM programs that work with borrowers below 580 FICO, including recent credit events like bankruptcy or foreclosure.
Who Is This For?
Non-QM programs are designed for anyone whose financial picture does not fit neatly into conventional lending boxes. If any of the following describe you, we likely have a solution.
- Self-employed borrowers who write off expenses and show lower income on tax returns than they actually earn
- 1099 contractors and gig workers who need a program built for non-W-2 income
- Real estate investors financing rentals with DSCR, scaling portfolios, or flipping with hard money
- High-net-worth individuals who can use asset depletion to qualify based on liquid assets
- Foreign nationals purchasing or investing in U.S. real estate without a Social Security number
- ITIN holders who want to buy a home but do not have an SSN
- Borrowers with credit challenges including sub-580 FICO scores, recent bankruptcy, or foreclosure
- Anyone told “no” by another lender - I can usually find another path forward
Non-QM vs Conventional Loans
| Feature | Non-QM Loans | Conventional Loans |
|---|---|---|
| Income documentation | Alternative: bank statements, assets, DSCR, 1099 | Full documentation: W-2s, tax returns, pay stubs |
| Minimum credit score | 500-620+ (varies by program) | 620+ (680+ for strongest rates) |
| Down payment | 10-25% typical | 3-20% |
| Debt-to-income ratio | More flexible, up to 50-55% | Usually capped at 45-50% |
| Interest rates | Higher (above conventional) | Lower (market standard) |
| Ideal borrower | Self-employed, investors, foreign nationals, credit events | W-2 employees with standard documentation |
| Government backing | None | Fannie Mae / Freddie Mac |
| Loan limits | Varies by lender | Conforming limits apply (or jumbo) |
Frequently Asked Questions
What is a Non-QM loan?
Do Non-QM loans have higher interest rates?
What types of Non-QM loans are available?
Can I get a Non-QM loan with bad credit?
Are Non-QM loans safe?
Have more questions? Visit our complete FAQ page covering all loan programs, or check the mortgage glossary for definitions of common terms.
Related Loan Programs
Commercial Loans
Financing for commercial properties, mixed-use buildings, and business real estate.
Learn moreHELOC / Home Equity Loans
Access your home equity with a line of credit or fixed-rate home equity loan.
Learn moreLearn More
DSCR Loans Explained
How real estate investors qualify based on rental income, not tax returns.
Read articleBank Statement Loans Guide
How self-employed borrowers use bank deposits instead of tax returns to qualify.
Read articleSelf-Employed Mortgage Guide
Complete guide to mortgage options for business owners and 1099 workers.
Read articleRates and program availability may vary based on the state or region in which the financed property is located. This is not a credit decision, an offer, or a commitment to lend. Program restrictions apply.
Ready to Explore Your Options?
Whether you are self-employed, building an investment portfolio, buying from overseas, or working through a credit event - I can find the right Non-QM solution for your situation. Let us talk through it.