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Key Characteristics of Non-QM Mortgages: Flexible Criteria : Income Verification : Non-QM loans often allow alternative methods for verifying income, such as bank statements, asset depletion, or profit and loss statements, rather than traditional tax returns and W-2 forms. Credit Scores : They might be available to borrowers with lower credit scores or those with a limited credit history. Debt-to-Income Ratio (DTI) : Non-QM loans may accept higher DTIs compared to traditional qualified mortgages. Borrower Types : Self-Employed Individuals : Those with irregular or seasonal income who might not have consistent pay stubs or tax returns to demonstrate their income. Investors and Foreign Nationals : People who might have significant assets or income that doesn’t fit the conventional documentation requirements. High Net-Worth Individuals : Borrowers with substantial assets but less traditional income sources. Loan Terms : Interest Rates : Non-QM loans typically come with higher int...