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Bank Statement / Non QM Loans

Non-QM Loans, also known as Non-Qualified Mortgage Loans or Bank Statement Loans, cater primarily to small business owners, self-employed individuals, investors, and foreign nationals. These loans utilize bank statements or other financial documents to assess a borrower’s income, as opposed to the W2s or tax returns typically required for traditional mortgages.

Overview of Non-QM Loans

Benefits

• No need for W2s, tax returns, or pay stubs.
• Acceptance of higher debt-to-income ratios.
• Generally higher loan limits available.
• Applicable for primary residences, second homes, or investment properties.

Considerations

• Potentially higher interest rates compared to traditional mortgages.
• May require a larger down payment.
• Not available from all lending institutions.

"Joonago made our home loan process so easy! Joe and Katie were there each step of the way and let us know what was needed when and communicated and answered any questions we had well and in a timely manner."

Jennifer, AZ

"We have used numerous lenders across several homes and refinances, and Josh was by far the most knowledgeable and helpful. We highly recommend him, and will absolutely use him again should we need a mortgage lender in the future."

John, FL

"Thank you for all the great advice and your help in closing my loan. I never thought I would ever achieve home ownership but you and your company have helped me reach it. I can't thank you enough!"

Ashley, GA