What “Non-QM” actually means
Qualified Mortgage (QM) rules grew out of Ability-to-Repay requirements after the financial crisis. A QM loan follows a defined set of points-and-fees, underwriting, and product constraints that give the lender a compliance safe harbor. A Non-QM loan is simply a loan that does not use that safe harbor. It still has underwriting. It still has a rate, a lock, and a Closing Disclosure. It is not a license to skip ability-to-repay analysis.
Borrowers land in Non-QM for reasons that are usually boring: self-employed bank statements instead of tax-return DTI, an investment property qualified on rent (DSCR), a custom construction-to-perm, a renovation holdback, or a reverse mortgage that is structured as a HECM rather than a forward loan. The file is different. The job is still education first.
What we will not do
We will not pretend every Non-QM overlay exists on every wholesale desk. We will not quote a teaser rate that ignores prepayment penalties, interest-only periods, or higher pricing adjustments. We are not Fannie Mae, Freddie Mac, or Ginnie Mae, and we are not a call center reading a residual script. If conventional, FHA, or VA is cheaper and eligible, that is the first conversation.
Programs in this section
Each page is education for Oregon and Washington borrowers. Product availability depends on the lender, the property, and the day’s overlays—not on a website promise.