Welcome to Simply Approved Mortgages, where we specialize in making non-QM loans accessible and straightforward for you. Whether you’re a self-employed professional, have a unique financial situation, or simply need more flexibility in your mortgage, our non-QM loan options can be the perfect solution.
Non-QM loans, or non-qualified mortgage loans, are a category of home loans that don’t fit the standard requirements set by the Consumer Financial Protection Bureau (CFPB). Unlike traditional QM loans, non-QM loans offer more flexibility and can accommodate a variety of financial scenarios.
Non-QM loans are ideal for individuals with non-traditional income sources or those who have experienced credit issues but can demonstrate financial stability.
These loans often come with higher borrowing limits compared to conventional loans.
Choose from various loan terms and structures that best fit your financial situation and goals.
Some non-QM loans offer the option for interest-only payments, making your monthly payments more manageable.
If your income is irregular or not fully documented, a non-QM loan can accommodate your unique financial situation.
These loans can be beneficial for investors who need to finance multiple properties or who require alternative documentation.
For those with significant assets but non-traditional income streams, non-QM loans offer a viable financing option.
Reach out to our team of experts to discuss your specific needs and how a non-QM loan could benefit you.
We will guide you through the application process, ensuring a smooth and efficient experience.
Once approved, our team will work quickly to secure your loan and get the funds to you.
QM loans adhere to strict guidelines set by the CFPB, including income verification and debt-to-income ratios. Non-QM loans, on the other hand, offer more flexibility and can cater to borrowers with unique financial situations.
The approval process for non-QM loans can vary but typically takes between 30 to 45 days. Our team at Simply Approved Mortgages works efficiently to expedite your approval.
Interest rates on non-QM loans may be higher than those on traditional QM loans due to the increased risk, but they offer significant advantages for those with non-traditional financial profiles.
Simply Approved Mortgages is committed to providing top-notch mortgage solutions and exceptional customer service. Learn more about our services and team.
Company State License# AZMB - 0944059 | NMLS# 1660690