Non-QM mortgages, short for Non-Qualified Mortgages, are home loans that do not meet the strict criteria set by government-sponsored entities like Fannie Mae and Freddie Mac.

Unlike traditional Qualified Mortgages (QM), which have standardized requirements, Non-QM mortgages offer more flexibility to borrowers who may not fit into the conventional lending mold.

These loans are typically designed for individuals with unique financial situations, such as self-employed individuals, retirees, or those with imperfect credit histories.

Non-QM mortgages often feature alternative underwriting criteria, like bank statements or asset verification, making homeownership possible for a broader range of applicants.

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