Non-QM Loans: Flexible mortgage solutions that fit your needs

Non-QM Loans, or Non-Qualified mortgages, are alternative mortgage loans designed for borrowers that may not meet the strict criteria of a traditional mortgage program. These loans provide a flexible path to homeownership for individuals with non-traditional income streams, people who have experienced a credit event such as a bankruptcy or foreclosure and those who have not established credit yet, borrowers who only have a ITIN or Tax ID and everyone in between!

At First National Bank of America, we specialize in being a top non qm lender, offering customized mortgage solutions to help you purchase or refinance a home, even if traditional mortgage loans aren’t a good fit.

Self-Employed
We make the mortgage process easier by allowing self-employed borrowers to utilize alternative methods to document income, including: Profit & Loss Only, Bank statements, 1099's or 1040's to show their annual income.
No tax returns or schedule K's required!
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ITIN or SSN
Whether you have an Individual Tax Identification Number (ITIN) or a Social Security Number (SSN), Non-QM mortgages are an excellent financing option!
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Credit Challenge
We offer mortgage solutions for individuals with no credit history or those who have faced credit challenges like a bankruptcy or foreclosure. Our flexible options can help you secure a home loan, even if traditional lenders can't.
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Unique Properties
First National Bank of America offers customized mortgage solutions for unique property types. Whether you’re thinking about financing a mobile home, vacant land or a non-warrantable condo, FNBA is the bank you come to when you need a lender you can trust to find the solutions that best fits you.
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Ready to Apply?

 

What are Non-QM Loans?

A Non-QM loan is an alternative mortgage loan that opens up the possibility of homeownership to a broader range of borrowers. These loans function like a traditional loan, offering fixed interest rates with terms up to 30 years while offering simplified guidelines. Instead of focusing on standard income and credit documentation, non qm loans take a more personalized approach, often considering:

  • Alternative income documentation methods like using bank statements instead of requiring tax returns to verify income.
  • Asset-based qualification methods allowing you to leverage retirement assets and savings to supplement or replace income
  • The ability to accommodate higher debt-to-income ratios
  • Flexible credit requirements including allowances for lower credit scores, bankruptcies or foreclosures and thin to no credit profiles
DTI (Debt to Income)
Debt-to-Income above 43%?
Our loan programs allow our borrowers to go up to 55%.

Calculate your DTI by adding up all of your monthly debt payments and divide it by your gross monthly income.
Income Documentation Options
In addition to relying on w-2s or tax returns to determine our borrowers income, our programs allow us to utilize profit & loss statements only, personal or business bank statements as well as seasoned assets. These additional ways to document income changes the game for many of our customers as it allows us to see a more accurate picture of their income, helping the approval process!
12 months of income history only.
Credit Event
Denied for a mortgage due to a recent credit event such as bankruptcy or foreclosure?
Non-QM loans can be more forgiving than traditional financing and offer an alternative mortgage solution with no seasoning required!

No credit?
At FNBA, that's ok too! We have Non-QM loan solutions that can turn your homeownership dream into reality.

Why Choose a Non-QM Lender?

Non-QM loans fill the void and are an incredible option, if not, the only option for millions of people looking to buy a first home, a dream home and everything in between. Working with an experienced non qm lender like First National Bank of America ensures that you get access to a loan program that is tailored to your unique situation. We focus on providing an exceptional mortgage process using a common sense approach that goes beyond the conventional loan process.

By working with a trusted, national Non-QM lender, you can unlock the benefits of an alternative mortgage and explore homeownership options that were previously out of reach. 

Ready to Apply?

Purchase, Refinance or Consolidate Debt with a Non-QM home loan today!

 
 

Want to talk to a member of our team? Call 1-833-394-8404

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What are people saying?

Real words from real customers!
  • We just closed on our new home, all made possible by First National Bank of America. We had a great experience with Kassandra, Mallory and the entire FNBA team! They were very responsive and helped make the process painless. Home buying can be so stressful but with their help everything ran smoothly. A big thank you to all!
    Lori H.
  • We recently worked with Kassandra to obtain a mortgage loan through First National Bank of America in Lansing, MI. Our experience could not have been any better. Kassandra was personable, pleasant, professional and knowledgeable in all aspects of the buying process. She helped educate us on so many things of which we were unaware and she was accessible any time we had questions. We have bought 4 houses in our lifetime, the loan process for this purchase was by far the smoothest, we attribute that totally to Kassandra's professionalism and knowledge. We can not say "Thank you" enough for all of her hard work!
    Sue S.
  • The mortgage process is always a bit stressful but add COVID-19 to the mix and you have fireworks. Our loan officer Eric always managed to explain and settle us back down. And now we are the owners of our fantastic new home. Many many thanks!
    David E.
  • Stephanie Brown was our Loan Officer for our home purchase. I was truly impressed with how quickly and efficiently we were able to get approval and keep the process moving forward. I have purchased multiple homes over the years and as a small business owner it has been one of the worst experiences to go through each time. The process feels like something from the Spanish Inquisition to be able to qualify. Stephanie had an approval for me in just under 24 hours. She was very responsive and communicative from our very first contact all the way to the closing and after, following up to see how our move went and to congratulate me again. For the first time ever, getting a mortgage was a simple and straight forward process. It made the stress of the situation significantly reduced!! The time lines she presented for the process were spot on.
    Patti B.