What is a Non-QM Loan Mortgage?

A non-qualified mortgage — or non-QM — is a home loan that is not required to meet agency-standard documentation requirements as outlined by the Consumer Financial Protection Bureau (CFPB).

Non-QM loans may encapsulate a wide variety of mortgages, including:

  • Home loans exceeding 30-year terms
  • Home loans with negative amortization
  • Home loans with interest-only payments

Non-QM loans may also exceed the CFPB’s current price-based thresholds:

  • QM Safe Harbor APR ≤ APOR + 1.50%
  • QM Rebuttable Presumption: APR > APOR + 1.50%, but ≤ 2.25%

Advantages of Non-QM Loan loans:
. Flexible loan eligibility requirements   
Lenient application review processes  
Alternative financing options for people who do not generate consistent income     
. Additonal loan options including extened loan terms exceeding 30 years, interest-only payments and negative amortization 

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