Non-QM / Investor Loans
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Non Qualified mortgages
Non-QM loans are a category of home loans that fall outisde the the guidelines established by the consumer financial protection bureau and are designed for creditworthy borrowers whose financial situation does not fit the traditional box.
At Scout Advisors, we offer a full-suite of non-QM loans such as DSCR, bank statement, profit and loss and ITIN.
Who typically uses Non-QM loans?
Non-QM loans are not the same as subprime loans – they are generally for borrowers with non-conventional profiles, not high-risk ones. If you are exploring your options (especially if you are self-employed or a seasoned real estate investor), you should consult your loan expert to see if it fits better that a QM loan (conventional, FHA, VA)
Our Non-QM loan programs
Our access to over 100 non-QM lenders ensures we can structure your loan according to your unique borrower profile and find a competitive rate to match
Apply for a Non-QM mortgage
What Our Clients Say About Us
Yes—non-QM loans are regulated and lenders must verify a borrowers ability to repay under federal law (ex. Dodd-Frank Act).
They don't carry the same "safe harbor" liability protections as QM loans for lenders, but responsible lending practices apply.
Yes. You are able to refinance your non-QM loan. Our bank statement loans & profit and loss loans on primary and second homes typically do not have prepayment penalties. DSCR loans have zero prepay options up to 5 year prepay options. For the loans with a prepay, you would need to pay a fee to the original lender to refinance.
Pros:
Access to homeownership or refinancing for those excluded from traditional loans.
Flexible income and underwriting guidelines.
Cons:
Slightly higher interest rates and fees.
Larger down payments.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Programs and interest rates are subject to change without notice. Contact your Scout Advisors mortgage expert for current rates and to confirm program eligibility.
