Non-QM Second Mortgage Calculator

Non-QM second mortgages provide a flexible financing option for borrowers who don’t meet the strict criteria of traditional loans. Whether you’re looking to tap into your home equity, consolidate debt, or finance a major expense, Non-QM second mortgages cater to self-employed individuals, real estate investors, and borrowers with non-traditional income or credit profiles.

Our Non-QM second mortgage solutions include tailored options such as bank statement loans, 1099 income loans, asset-based loans, and more.

 

What Are Non-QM Second Mortgages?

A second mortgage is a loan secured against your home equity, in addition to your primary mortgage. Non-QM second mortgages go beyond traditional lending guidelines, offering flexibility for borrowers with unique circumstances.

Benefits of Non-QM Second Mortgages:

• Access Home Equity: Tap into your property’s value without refinancing your first mortgage.
• Flexible Qualification: Alternative income verification options, including bank statements and assets.
• Customized Solutions: Loan options for self-employed borrowers, investors, and those with complex financial profiles.
• Debt Consolidation: Use your second mortgage to pay off higher-interest debts.

Non-QM Loan Options for Second Mortgages

1. Bank Statement Second Mortgages: Perfect for self-employed borrowers, income is verified using 12-24 months of bank statements.
2. 1099 Income Second Mortgages: Tailored for independent contractors and gig workers, based on 1099 forms.
3. Asset-Based Second Mortgages: For high-net-worth individuals, qualifications are based on liquid assets rather than income.
4. Profit and Loss (P&L) Second Mortgages: Ideal for business owners, using P&L statements to determine eligibility.
5. DSCR Second Mortgages: Designed for investors, these loans focus on rental income to qualify.

Who Can Benefit from Non-QM Second Mortgages?

Our Non-QM second mortgages are ideal for:

• Self-Employed Borrowers: Access financing without traditional W-2 or tax return documentation.
• Real Estate Investors: Use second mortgages to expand your portfolio with DSCR loans.
• Borrowers with Credit Challenges: Flexible requirements accommodate less-than-perfect credit.
• High-Net-Worth Individuals: Leverage assets instead of income for qualification.
• Homeowners with Equity: Tap into your home’s value for renovations, education, or other significant expenses.

How to Use Your Non-QM Second Mortgage

1. Home Renovations: Fund improvements that increase your property’s value.
2. Debt Consolidation: Reduce your interest rates by consolidating higher-interest debts.
3. Major Purchases: Cover significant expenses like education or medical bills.
4. Investments: Use equity to invest in new opportunities or expand your real estate portfolio.

 

Frequently Asked Questions for Second Mortgage Loans