Remember, only Temporary QM loans are not subject to the 43% maximum DTI ratio threshold. In fact, several of the lenders on this list offer loan amounts of $3 million or more.Īdditionally, many allow DTI ratios above 43%. Who Offers Non-QM Jumbo Loans?Ī number of these lenders may also offer non-QM jumbo loans that exceed the conforming loan limit and the high-cost loan limits. This makes a lot of sense given borrowers with tougher loan scenarios often work with brokers to find a home for their mortgage. Good news for mortgage brokers – lots of non-QM lenders also offer their products via the wholesale and correspondent channel. Part of this might have to do with the fact that second mortgages aren’t nearly as popular as they once were pre-housing crisis.

Very few lenders seem to be offering non-QM second mortgages, though there are some out there, and perhaps more will join the fray in the near future. Just note that the interest expense is quite a bit higher on these products due to the long amortization, coupled with what is probably a higher mortgage rate. – Westpark Equity Group Who Offers Mortgages with 40-Year Terms?Ī growing list of lenders now offer mortgages with 40-year terms, which are also unacceptable under the Qualified Mortgage rule. Who Offers Stated Income and Alt-Doc Loans? 988952, 508 Olney Sandy Spring Road Suite 200, Sandy Spring. This means more stringent underwriting guidelines, including higher FICO score requirements and potentially lower LTV limits. 82, 2471, Anchor Financial Mortgage, Inc. Instead of selling them off, they’ll probably be kept on the banks’ books going forward. Interest-only loans appear to be the most common non-QM loan type at the moment, mainly because lenders were already making them before QM rolled out. – Paramount Residential Mortgage Group (PRMG) – Human Mortgage (First Community Mortgage) – First Guaranty Mortgage Corporation (FGMC) – Credit Union of Southern California (CU SoCal) – Commerce Home Mortgage (Change Home Mortgage) This list was last updated on April 27th, 2023. This is a testament to the popularity of mortgage lending that doesn’t fit the very specific credit box associated with a Qualified Mortgage.īelow, you can find dozens of mortgage lenders that offer non-QM loans, including interest-only loans, stated income loans, 40-year mortgages, and everything else that is now banned under QM.

It started with just a few entries back in 2014, when non-QM lending was in its infancy, but has since grown exponentially.įast forward to 2022 and there are countless non-QM lenders originating home loans, from small shops to massive depositories, at both the wholesale and retail level. This page is dedicated to cataloging the growing list of non-QM lenders that exist today.

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