FinancingIntermediate

What Is Non-QM Loan?

A non-QM (non-qualified mortgage) loan is a mortgage that doesn't meet the federal "qualified mortgage" standards for verifying a borrower's ability to repay — used for self-employed borrowers, DSCR-based investor loans, and other cases standard underwriting doesn't fit well.

Most useful for: Repeat Buyer · Homeowner

At a Glance

Non-QM Loan

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Definition

Plain-English meaning

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Related Terms

2 connected concepts

Related Terms

DSCR Underwriting

More Financing Terms

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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.

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