Non-QM Loans & Specialty Products

Diamond Residential Mortgage Corporation is committed to meeting the needs of all borrowers - not just those who fit into the conventional standards of a qualified mortgage. We offer flexible financing when traditional qualification methods simply will not work. Learn more about why we are considered a top leader in the Non-QM industry:

Want to learn more? Let’s take a closer look.

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Non-QM Loans

What is a Non-QM (non-qualified) mortgage?

A Non-QM (Non-Qualified Mortgage) loan is a type of mortgage that doesn't meet the strict requirements of a traditional mortgage. Unlike traditional mortgages that follow strict guidelines, Non-QM loans provide more flexibility in terms of underwriting standards, such as alternative documentation, lower credit scores, higher debt-to-income ratios, and unique property types. Non-QM loans can be a great option for borrowers who have unique financial situations or properties that do not qualify for traditional mortgages.

Check out the loan guidelines, pros and cons for Non-QM loans below, and explore the Non-QM products we offer at Diamond Residential Mortgage Corporation.

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Pros of Non-QM Loans:

  1. Flexibility:
    Non-QM loans offer more flexibility in terms of underwriting standards, such as alternative documentation, lower credit scores, higher debt-to-income ratios, and unique property types. This flexibility can help borrowers who do not qualify for traditional mortgages.
     
  2. Ability to finance unique properties:
    Non-QM loans can be used to finance properties that do not meet the guidelines of traditional mortgages, such as investment properties, second homes, or homes in need of significant repair.
     
  3. Less competition:
    Since non-QM loans are not offered by all lenders, there may be less competition among borrowers applying for these types of loans. This can lead to better rates and terms for the borrower.


 

Cons of Non-QM Loans:

  1. Higher interest rates:
    Since non-QM loans are considered riskier for lenders, they often come with higher interest rates than traditional mortgages. Stricter qualification criteria: Even though non-QM loans offer more flexibility, they still require borrowers to meet certain criteria, such as having a significant amount of cash reserves or a higher down payment.
     
  2. Limited availability:
    Non-QM loans are not offered by all lenders, so borrowers may have to search harder to find a lender that offers this type of financing. Potentially higher fees: Lenders may charge higher fees for non-QM loans to offset the increased risk they are taking on.
     

Good Candidates for Non-QM Loans:

  1. Self-employed individuals with irregular income or those who have difficulty providing traditional income verification documents.

  2. High net worth individuals with unique financial circumstances that don't fit the strict guidelines of traditional mortgages.

  3. Borrowers looking to finance investment properties, second homes, or unique properties that don't meet traditional mortgage guidelines.

  4. Individuals with lower credit scores or higher debt-to-income ratios who may not qualify for traditional mortgages but have the ability to make payments on a Non-QM loan.


Non-QM products we offer:


Don’t let non-traditional income prevent you from owning a home. Diamond Residential Mortgage Corporation is your trusted lender when it comes to alternative methods for income qualification. We can work with borrowers who often times have multiple streams of income, paid in lump sums, or are self-employed and absorb business expenses onto their personal tax returns. 

  • Bank Statement Loans
  • Asset Depletion Loans
  • One-Year Tax Return Loans
  • Flexible Income Jumbo Loans
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Did you know that experiencing a short sale or foreclosure on your property could prevent you from purchasing a new home for up to 7 years? Diamond understands that being a homeowner today rather than years from now is important to you, your family, and your future. We can offer financing much sooner than you think. Speak with one of our experienced loan specialists and see how we can help you achieve homeownership today.

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ITIN mortgages are home loans available for individuals who do not have a Social Security number but have an Individual Taxpayer Identification Number (ITIN), allowing them to purchase a home and build equity in the United States.

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Foreign National loans are a type of mortgage designed for non-US citizens who want to purchase or refinance a property in the United States.

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We can help when a not-so-perfect credit history prevents you from getting a mortgage.  If you’ve been turned away by others for reasons such as lack of credit, low credit score, or history of late payments, speak with our experienced loan specialists and see if our alternative loan programs are right for you. 

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Diamond believes in the power of real estate as part of a diverse investment strategy.  We have loan programs that can make it easier to buy and sell investment properties so that you can focus on building your portfolios.  That’s why real estate investors love working with us.  Contact one of our knowledgeable loan specialists who can help guide you through our suite of investment solutions.   

  • Finance multiple properties 
  • No Income Investor Loans (DSCR)
  • Fix and flip loans 
  • Small balance commercial loans 
  • SBA Lending 
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If you have a high debt-to-income ratio that does not qualify for a standard loan, if you want special loan features such as interest-only payments, or if you are looking to borrow above the conforming limit of $726,000 ($1,089,300 for one unit in High-Cost Areas) with limited down-payment funds, Diamond Residential Mortgage Corporation is here to help. Speak with one of our trusted loan specialists about our specialty products, and we will help guide you through the loan process.  

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