5 Steps of the Mortgage Loan Process

Step 1

Find Out How Much You Can Borrow

Step 2

Apply For A Loan

Step 3

Determine The Right Loan Program for you

Step 4

Begin Loan Processing

Step 5

Close Your Loan

What Are QM and Non-QM Loans?

Buying a home is like playing a board game. There are rules to follow so that everyone plays fair. In the world of home loans, these rules are called Qualified Mortgage (QM) rules.

QM Loans = The Safe & Standard Loans

A QM loan is like playing the game by the most basic rules. These loans follow strict guidelines that make sure:

✔️ You can afford your monthly payments.

✔️ You have a steady and provable income.

✔️ The loan is not risky (like super high-interest rates or weird payment structures).

Non-QM Loans = The Flexible, Outside-the-Box Loans

A Non-QM loan is like playing the same game but with different, flexible rules. These loans help people who don’t fit into the standard QM box.

Instead of only looking at paychecks, these loans may consider:

✔️ Bank statements (for self-employed people).

✔️ Rental income (for real estate investors).

✔️ Large cash reserves or assets.

Who usually gets QM loans?

📌 People with a regular paycheck (like salaried employees).

📌 Borrowers with good credit and a solid financial history.

Who usually gets Non-QM loans?

📌 Business owners, freelancers, or gig workers.

📌 Real estate investors.

📌 Retirees with savings but no steady paycheck.

📌 People with unique income situations.

Need help figuring out which loan is best for you?

I’m here to help you find the right loan that fits your financial situation!

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