Non-Qualified Mortgage Loans
Are you struggling to qualify for a traditional mortgage due to income documentation requirements? A Non-Qualified Mortgage (Non-QM) might be the right solution for you.
Khan Home Loans LLC focuses on assisting self-employed professionals, real estate investors, and individuals with unconventional financial circumstances in obtaining home loans in Fresno, CA.
A Non-QM loan is an alternative mortgage option that allows you to qualify without meeting traditional lending guidelines.
Unlike conventional loans, which require W-2s, tax returns, and a high debt-to-income (DTI) ratio, Non-QM loans offer flexible qualification criteria.
Who Can Benefit from a Non-QM Mortgage?
A Non-Qualified Mortgage Loan is ideal for:
✔ Self-Employed Individuals – No need for tax returns or W-2s.
✔ Real Estate Investors – Purchase investment properties without income verification.
✔ Business Owners & Entrepreneurs – Use bank statements instead of pay stubs.
✔ Independent Contractors & Gig Workers – Get approved based on cash flow.
✔ Retirees & High-Net-Worth Individuals – Qualify using liquid assets.
✔ ITIN Holders – Use your ITIN number instead of a Social Security number.
✔ Foreign Nationals – Buy investment property in the U.S. without a credit score.
No matter your financial situation, Khan Home Loans LLC is here to help you secure the financing you need in Fresno, CA.
Types of Non-QM Mortgage Loans
1. Bank Statement Loans
🏦 Best for: Self-employed borrowers, freelancers, and independent contractors.
📑 Requirement: Use personal or business bank statements (instead of tax returns or W-2s) to prove income.
2. Debt-Service Coverage Ratio (DSCR) Loans
🏢 Best for: Real estate investors financing rental properties.
📊 Requirement: No personal income verification—qualify based on the rental income of the property.
3. ITIN Mortgage Loans
🌍 Best for: Individuals without a Social Security Number (SSN).
📋 Requirement: Qualify for financing using an Individual Taxpayer Identification Number (ITIN).
4. Asset-Based Loans (Asset Qualifier Loans)
💰 Best for: High-net-worth individuals with substantial liquid assets.
📂 Requirement: Instead of verifying income, you qualify based on bank accounts, investments, or other assets.
5. Foreign National Loans
✈️ Best for: International investors who want to purchase U.S. real estate.
🏡 Requirement: No U.S. credit history required—qualify based on down payment and reserves.
Benefits of a Non-QM Loan in Fresno, CA
✔ No W-2s or tax returns required – Qualify based on alternative documentation.
✔ Flexible income verification – Use bank statements, rental income, or assets.
✔ Lower credit score requirements – Some Non-QM loans accept credit scores as low as 600.
✔ Higher DTI (Debt-to-Income) ratios allowed – Great for high-income earners with high expenses.
✔ Interest-only loan options – Lower monthly payments, ideal for investors.
✔ No limit on the number of financed properties – Great for real estate investors.
✔ Short-term & long-term rental properties eligible – Airbnb & VRBO properties qualify.
At Khan Home Loans LLC, we offer a variety of Non-QM mortgage solutions to meet the unique financial needs of borrowers in Fresno, CA.
Non-QM vs. Traditional Mortgages – Key Differences
| Feature | Traditional Mortgage | Non-QM Mortgage |
|---|---|---|
| Income Verification | Requires W-2s & Tax Returns | Bank Statements, Assets, or Rental Income |
| DTI Ratio Limits | Strict Guidelines | Flexible Debt-to-Income Ratio |
| Self-Employed Eligibility | Harder to Qualify | Easier Approval for Business Owners |
| Credit Score Requirements | Higher Minimum Required | More Flexible Credit Criteria |
| Property Type Restrictions | Limited Investment Properties | No Limit on Properties Owned |
| Interest-Only Payments | Typically Not Allowed | Available as an Option |
If you’ve been turned down for a traditional mortgage due to income verification issues or credit score requirements, a Non-QM mortgage can be the perfect solution for you.