2022’s Top 7 Non-QM Mortgage Companies

Since the coronavirus pandemic, non-QM Loans have mostly disappeared from the marketplace. Meet the ‘last-resort’ mortgage lenders rising from the ashes of the financial crisis to help underqualified borrowers buy a home. Here are 7 lenders that are currently providing non-QM loans in 2022. These loan products are obtainable to help people with minimum credit scores, the self-employed, and other types of buyers that are unable to satisfy conventional financing.

1. AHL FUNDING

AHL Funding’s loan programs are designed to appeal to a broad range of homebuyers. The programs are affordable, and each program is designed to serve an important demographic. Unlike larger and well-established firms, they understand the needs of borrowers, whether you have an established investor looking for financing with NO INCOME or bank statement programs for self-employed borrowers. Their customer care is fantastic that can help you obtain the perfect loan.

Highlights:

Max LTV: 90%  *  Max DTI: 55%  *  Min Credit: $0  * Loan Amounts: Upto $4 Million

States:

Licensed in 13 states (Arizona, California, Colorado, Florida, Hawaii, Illinois, Indiana, Louisiana, Ohio, Oregon, Pennsylvania, Texas, and Washington).

2. ACRA LENDING

There are many non-QM mortgage companies that offer bank statement loans, Acra is the largest of all. One of the reasons that acra lending is so popular is their 12-month bank statement program. They also provide a bit of leniency on credit history and allow up to 90% LTV.

3. Angel Oak Mortgage Solutions

Angel Oak Mortgage Solutions provides a variety of non-QM loan programs, which includes bank statement loans, 1099 income mortgage assets consumption loans, jumbo loans, standard mortgages, and investor cash flow mortgage programs, offering amount between $150,000-$3,000,000.

Highlights:

Max LTV: 90%  *  Max DTI: 50%  *  Min Credit: 575  *  Loan Amounts: $150,000-$3,000,000

3. Carrington Mortgage

A variety of non-qualified mortgage loans are available through Carrington Flexible Advantage Series. Including these options for self-employed buyers (bank statement loans) and people with several credit issues (they accept credit scores as low as 550 and do not have any seasoning requirements on bankruptcies, foreclosures, or short sales).

Overview:

Max LTV: 90% – Max DTI: 50% – Min Credit: 550 – Loan Limit: $2.5

Million Programs Provided:

Bank Statement Loans – Asset Consumption – DSCR Mortgage Loans – Recent Housing Event Program – Conventional Loans – FHA Loans – VA Loans – USDA Loans.

5. First National Bank of America

First National Bank of America provides various non-QM credits, including options for self-employed debtors as well as people with various credit issues (such as a recent bankruptcy, foreclosure, or short sale).

6. Northstar Funding

Northstar Funding offers several highly competitive non-QM loan products, including stated income loans, foreign national mortgages, asset consumption loans, bad credit mortgages, and also possibilities for people even just one day out of a bankruptcy, foreclosure, or short sale. North star is an FHA-approved banker and works with multiple debtors with credit scores as minimum as 500.

Overview:

Max LTV: 90% – Max DTI: 50% – Min Credit: 500 – Loan Limit: $3 Million

Programs Provided:

Bank Statement Loans – P&L Statement Mortgage – Recent Housing Event – ITIN Loans – Asset Depletion – Conventional Loans – FHA Loans – Jumbo Loans

7. ACC Mortgage

ACC Mortgage (All Credit Considered Mortgage) provides non-QM mortgage programs for self-employed buyers, as well as people with different types of credit problems which provide vendors the opportunity to qualify & satisfy through full or alternative documentation (bank statement loans).

Overview:

Max LTV: 85% – Max DTI: 55% – Min Credit: 620 – Loan Limit: $1.5 Million

Programs Provided:

Bank Statement Loans – P&L Statement Mortgage – Recent Housing Event – ITIN Loans – Asset Depletion

States: Nationwide (except for CA, IL, NJ, NV, NY, OH, and WA). 

Want to diversify your loan offerings? Visit our broker approval page to apply!