Non-QM loans use alternative ways to verify your ability to pay, which opens doors when traditional guidelines don't fit.
Qualify for a rental property based on its rental income, without using your personal income.
Use 12 or 24 months of bank statements in place of tax returns.
Qualify using significant savings or investments instead of monthly income.
Some programs allow shorter waiting periods after a bankruptcy or foreclosure.
Financing options above conventional loan limits for higher-priced homes.
Investors can often close rental property loans in the name of a business entity.
Non-QM programs are flexible, but lenders still look for a solid overall picture:
A Larger Down Payment – Often 15% to 25%, depending on the program.
A Credit Score Around 620 or Higher – Better scores unlock better pricing.
Documented Income, Assets or Rent – Bank statements, asset statements or a lease and rent schedule.
Cash Reserves – Several months of payments in savings is common.
For DSCR Loans, Positive Cash Flow – Rental income that covers the property's payment.
Answer a few quick questions about your plans, and a Woodcrest loan officer will reach out with options tailored to this loan program.
Get quick answers to the most common questions homebuyers ask. Our FAQ section is designed to help you understand the mortgage process, explore your options, and feel confident every step of the way.
It stands for non-qualified mortgage: a loan outside standard agency rules, often using alternative income documentation.
A debt service coverage ratio loan qualifies an investment property based on whether its rent covers the mortgage payment.
Usually somewhat higher than conventional rates, reflecting the added flexibility. We'll compare options so you can decide.
Yes. Many borrowers refinance into a conventional loan once their documentation or credit fits standard guidelines.
