Non Qualified Mortgage Loans

Non-Qualified Mortgage Loan

is any home loan that doesn’t comply with the 

Consumer Financial Protection Bureau’s (CFPB) existing rules on Qualified Mortgage. 

Non-Qualified Mortgages (Non-QM) are designed for good borrowers with good credit and unique financial circumstances; self-employed borrowers that cannot show their income documentation,  tax returns, schedules, 1040, etc. or have less than 2 years of self-employment history. Also, for those that have a greater than 43% Debt-to-Income ratio (DTI). 

Owner occupancy

0 x 30 late payments in the last 12 months on housing history

1 x 30 late payments in the last 12 months in non-housing history

Letter of explanation for any credit issues (one-time issues such as bankruptcies or foreclosures)

Low LTVs, typically less than 80%, but sometimes even lower

Adequate assets to serve as reserves for 6 to 12 months

Si Se Puede!®


1606 S. El Camino Real,

San Mateo, CA 94402



Adelante California is a marketing partner of Preferred Processing Services. Inc. 3137 Castro Valley Blvd, Suite 207, Castro Valley, Ca 94546. NMLS #236424 BRE # 01342764, Adelante Plus is a pilot program in development for members and family of the United Farmworkers of America (“UFW’) in the Salinas Region of California. The use of UFW Trademarks by Adelante Plus is limited to promoting benefits and services to UFW members, subject to the approval by the UFW Benefits Coordinator. Service providers approved by Adelante California agree to provide all services in Spanish and comply with California Civil Code 1632.5. NAHREP 10 Authored by Gary Acosta, Co Founder of NAHREP, in collaboration with the NAHREP Familia.

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