Non-QM Loans
Flexible mortgage solutions for borrowers who do not meet traditional lending criteria. Includes bank statement loans, P&L loans, and ITIN loans for self-employed and non-traditional income earners.
Is This Loan Right for You?
A Non-QM loan is right for you if you are self-employed, a business owner, or a gig worker whose tax returns do not reflect your true earning power. Bank statement and profit-and-loss programs let you qualify based on actual cash flow rather than tax returns. As defined by the CFPB under the Dodd-Frank Act, Non-QM loans use alternative income documentation while still verifying ability to repay. The minimum credit score is 620, down payments start at 10%, and loan amounts reach up to $3 million. Maximum LTV is 90% and DTI can extend to 50%, more flexible than conventional guidelines. ITIN loans are also available for borrowers without a Social Security number. Compared to conventional loans that require W-2s and tax returns, Non-QM programs accept 12 to 24 months of bank statements or CPA-prepared P&L statements. Choose Non-QM if your documented income does not reflect your real financial strength and you need a mortgage structured around how you actually earn.
Non-QM vs Full-Doc Conventional
Non-QM loans open doors for self-employed borrowers and investors who don't fit the traditional mold.
| Feature | Non-QM Loan | Full-Doc Conventional |
|---|---|---|
| Income Verification | Bank statements, assets, DSCR | W-2, tax returns, pay stubs |
| Min Credit Score | 620-660 typical | 620 |
| Self-Employed Friendly | Yes — 12-24 mo. bank statements | Difficult if write-offs reduce income |
| Interest Rates | 0.5-1.5% higher | Lowest available |
| Down Payment | 10-20% typical | 3-5% |
| Loan Amounts | Up to $3M+ | $806,500 conforming |
| DTI Requirements | Flexible | Max 45% |
| Ideal For | Self-employed, investors, foreign nationals | W-2 employees |
What Are the Non-QM Requirements?
Min Credit Score
620+
Min Down Payment
10%
Max LTV
90%
Max DTI
50%
Loan Limits
Up to $3 million depending on program
PMI / MIP
No traditional PMI; rate reflects risk adjustment
Occupancy
Primary, secondary, or investment property
Key Features
- Bank statement loans (12-24 months of statements instead of W-2s)
- Profit & Loss statement-based qualification
- ITIN loans for borrowers with Individual Taxpayer Identification Numbers
- Ideal for self-employed, business owners, and gig workers
- Flexible income documentation requirements
How It Works
Initial Consultation
We review your unique income situation and determine which Non-QM program is the best fit: bank statement, P&L, asset depletion, ITIN, or another option.
Application & Documentation
Instead of W-2s and tax returns, you provide 12-24 months of bank statements, a CPA-prepared P&L statement, or other alternative documentation based on your program.
Underwriting & Approval
A specialized Non-QM underwriter reviews your bank statement deposits, business cash flow, or alternative income documentation to verify qualifying income.
Closing & Funding
Complete your closing documents and fund your loan. Non-QM loans close on a similar timeline to conventional loans, typically 30-45 days.
Estimate Your Payment
Results
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
What Are the Pros and Cons of Non-QM?
Advantages
- Qualify using bank statements or P&L instead of tax returns
- Self-employed borrowers can use actual cash flow rather than net taxable income
- ITIN loans available for borrowers without a Social Security number
- Higher loan amounts available than many conventional programs
Considerations
- Interest rates are typically 0.5-2% higher than conventional loans
- Larger down payments usually required (10-20%)
- Fewer lender options means less rate competition
Frequently Asked Questions
Getting a Non-QM Loan in the San Gabriel Valley
NetCORE Lending™ is headquartered in Diamond Bar and has been helping borrowers across the San Gabriel Valley secure non-qm financing since 2015. We serve homebuyers and homeowners in Pomona, Walnut, Rowland Heights, West Covina, Chino Hills, Covina, La Verne, Glendora, San Dimas, Hacienda Heights, and City of Industry — as well as borrowers throughout California.
As a local mortgage broker, we understand the San Gabriel Valley real estate market — from the higher-value properties in Chino Hills and Diamond Bar to the more affordable options in Pomona and West Covina. Our team provides bilingual service in English and Vietnamese and shops 100+ wholesale lenders to find you the lowest available rate on your non-qm loan.
Call (714) 399-6361 to discuss non-qm options with a local loan advisor, or get pre-qualified online in 2 minutes.
Also Consider
Explore other loan products that might be a good fit for your needs.
DSCR
Debt Service Coverage Ratio loans for real estate investors. Qualification is based on the property's rental income rather than personal income, making it ideal for portfolio builders.
Foreign National
Mortgage solutions for non-U.S. citizens looking to purchase property in the United States. Competitive rates and terms with no Social Security number required.
Conventional
A traditional mortgage not insured by the federal government. Ideal for borrowers with strong credit and stable income who want competitive rates and flexible terms.
Ready to Get Started?
Apply online in minutes or call us to speak with a loan advisor about your Non-QM options.
Official Sources
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
Reviewed by Joann Ton, Loan Officer (NMLS# 1461031) | Last updated: June 2026