Non-QM Conventional Loans

 
No Tax Return & Non-QM Loans
Flexible Mortgage Solutions When Traditional Income Documentation Doesn't Tell the Whole Story
 
Self-Employed? Business Owner? 1099 Worker? Investor? Retired?
You may still have options to purchase or refinance a home — even when traditional tax-return income doesn't qualify you for a conventional mortgage.
At MGB Financial, we offer access to a variety of Non-QM and alternative-documentation mortgage programs designed for borrowers with non-traditional income or complex financial situations.
 
NO TAX RETURNS MAY BE REQUIRED
Bank Statements • 1099 Income • P&L Programs • Asset Depletion • Investor Programs • DSCR
CHECK YOUR LOAN OPTIONS
 
What Is a Non-QM Loan?
A Non-QM (Non-Qualified Mortgage) is a mortgage that does not meet all of the requirements applicable to Qualified Mortgages.
Unlike traditional conforming loans that generally follow Fannie Mae or Freddie Mac guidelines, Non-QM programs can provide alternative ways to document a borrower's ability to repay.
These programs can be especially valuable for borrowers who have the financial ability to make their mortgage payments but whose income is difficult to document using traditional methods.
 
What Is a "No Tax Return" Mortgage?
A No Tax Return Loan doesn't mean that income or the ability to repay is ignored.
Instead, certain Non-QM programs may allow qualified borrowers to document their ability to repay using alternative documentation rather than personal tax returns.
Depending on the program, qualification may be based on:

• Bank Statements
• 1099 Income
• Profit & Loss Statements
• Assets
• Investment Property Cash Flow
• Other Eligible Alternative Documentation

This can make Non-QM financing an excellent option for borrowers whose tax returns don't accurately reflect their current cash flow.
 
Bank Statement Loans
Self-Employed? Your Bank Statements May Help You Qualify.
A Bank Statement Loan can allow eligible self-employed borrowers to qualify using deposits reflected in personal or business bank statements rather than traditional tax-return income calculations.
Depending on the program, lenders may review a specified period of:

• Personal bank statements
• Business bank statements
• Eligible deposits
• Business expenses
• Other required financial documentation

 
Bank Statement Loans May Be Ideal For:

• Self-employed borrowers
• Business owners
• Entrepreneurs
• Independent contractors
• Consultants
• Commission-based professionals
• Borrowers with significant business write-offs

 
ASK ABOUT BANK STATEMENT LOANS
 
1099 Mortgage Programs
Independent Contractors & Freelancers Have Options
If you're paid as an independent contractor, your 1099 income may potentially be used to qualify under certain Non-QM programs.
 
These programs can be useful for:

• Independent contractors
• Freelancers
• Consultants
• Real estate professionals
• Gig-economy workers
• Commission-based workers
• Other eligible 1099 earners

Documentation requirements vary by program.
 
Profit & Loss (P&L) Mortgage Programs

• Some Non-QM programs may allow eligible self-employed borrowers to qualify using a Profit & Loss Statement rather than relying on traditional tax-return income calculations.
• Depending on the program, the P&L may need to be prepared or verified by an eligible third party and may require additional supporting documentation.
• Is Your Business Profitable but Your Tax Returns Show Lower Income?
• A P&L-based program may provide another way to evaluate your current business income.

EXPLORE P&L LOAN OPTIONS
 
Asset Depletion Loans
Turn Your Assets Into Qualifying Income
Have substantial assets but limited traditional monthly income?
An Asset Depletion Loan may allow qualified borrowers to use eligible assets to calculate qualifying income.
Depending on program requirements, eligible assets may include certain:

• Checking and savings accounts
• Investment accounts
• Stocks and bonds
• Retirement assets
• Other eligible liquid assets

These programs can be especially useful for retirees, high-net-worth borrowers, and individuals with significant assets but non-traditional income.
 
DSCR Loans for Real Estate Investors
Qualify Using Investment Property Cash Flow
Real estate investors may have another option.
A DSCR (Debt Service Coverage Ratio) Loan generally focuses on the investment property's qualifying rental income compared with the applicable property debt obligation.
Certain DSCR programs may not require traditional personal income documentation.
DSCR financing may be useful for:

• First-time investors
• Experienced real estate investors
• Rental property owners
• Investors with multiple properties
• Self-employed investors
• Investors with complex tax returns

LEARN ABOUT DSCR FINANCING
 
Who Can Benefit from a Non-QM Loan?
Non-QM financing may be worth exploring if you're a:

• Self-Employed Borrower
• Traditional tax returns may not fully reflect your current cash flow.
• Business Owner
• Business deductions and expenses can sometimes reduce taxable income used for traditional mortgage qualification.
• 1099 Worker
• Alternative documentation programs may provide additional qualification options.
• Real Estate Investor
• DSCR and other investor programs may focus more heavily on property cash flow.
• Retiree
• Asset-based qualification may provide options when traditional employment income isn't available.
• High-Net-Worth Borrower
• Eligible assets may potentially be used as part of the qualification process.
• Borrower with Complex Income
• Multiple businesses, investments, commissions, contract work, or other income sources can make traditional underwriting more complicated.

 
Purchase or Refinance

• Non-QM financing isn't limited to purchasing a home.
• Depending on program availability and borrower qualifications, options may be available for:
• Home Purchase
• Rate-and-Term Refinance
• Cash-Out Refinance
• Primary Residence
• Second Homes
• Investment Properties
• Property and occupancy eligibility varies by program.

 
Non-QM vs. Traditional Conventional Financing
 
Traditional Conventional Loan
Generally uses traditional income documentation and follows applicable conforming agency guidelines when the loan is sold to Fannie Mae or Freddie Mac.
 
Non-QM Loan
May provide alternative methods for documenting income, assets, and ability to repay.
The best program depends on your individual financial situation.
 
At MGB Financial, we'll review your scenario and help you understand the available options rather than trying to fit every borrower into the same loan program.
 
Why Choose MGB Financial?
25+ Years of Mortgage Experience
Non-QM financing can require a deeper understanding of a borrower's complete financial picture.
 
At MGB Financial, we can review your situation and help identify programs that may fit your needs.

• Multiple Programs to Choose From
• Bank Statement Loans
• No Tax Return Programs
• 1099 Programs
• P&L Programs
• Asset Depletion
• DSCR Investor Loans
• Conventional • FHA • VA
• Purchase • Refinance • Cash-Out

 
Why Pre-Qualify With Us?
Quick & Simple

• Tell us about your financial situation and we'll help identify potential financing options.
• Know Your Buying Power
• Understand your potential price range before you start shopping for a property.
• Alternative Documentation Options
• Traditional tax returns aren't the only way some borrowers may qualify.
• Experienced Guidance

With 25+ years of mortgage experience, our team can help you understand your options from initial review through closing.
 
Don't Let Your Tax Returns Stop You From Exploring Your Options

• Being self-employed or having non-traditional income doesn't automatically mean you can't qualify for a mortgage.
• The key is finding a loan program designed to evaluate the way you actually earn and manage your money.

 
Ready to Find Out What You May Qualify For?
 
START YOUR PRE-QUALIFICATION APPLICATION
 
It's quick to get started. Tell us about your income, property goals, and financial situation, and we'll review potential financing options.
 
Need Help?
Have questions about No Tax Return, Bank Statement, 1099, P&L, Asset Depletion, or DSCR loans?
Call MGB Financial at 562-809-2643
Email: Loan@MGBFinancial.com
Website: www.MGBFinancial.com
MGB Financial Services, Inc
25+ Years of Mortgage Experience
 
No Tax Return • Bank Statements • Non-QM • DSCR • 1099 • P&L • Asset-Based Programs
Your Income Is Different. Your Mortgage Options Can Be Too.
 
GET PRE-QUALIFIED TODAY
 
“No Tax Return” refers to loan programs that may use eligible alternative documentation in place of traditional tax returns. It does not mean that income, assets, credit, or ability to repay requirements are waived. Loan programs, documentation requirements, rates, terms, down payment requirements, credit requirements, property eligibility, and underwriting guidelines vary by lender and program and are subject to change. All loans are subject to applicable underwriting requirements and final approval. This information is for general informational purposes only and is not a commitment to lend.