Non-Traditional Mortgage Solutions
If you've been told you don't qualify for a traditional mortgage, we may be able to help.
Unlock Your Homeownership Dreams with Non-QM Loans
At RMS of Texas, we believe everyone deserves a chance to own a home, regardless of their credit history or unique financial situation. That’s why we specialize in offering Non-Qualified Mortgage (Non-QM) loans through our trusted lender partner, Carrington Wholesale. If you’ve been turned down for a traditional mortgage in the past, a Non-QM loan could be the solution you’ve been searching for.
What Are Non-QM Loans?
Non-Qualified Mortgage loans, or Non-QM loans, are designed to help individuals who don’t meet the strict criteria of conventional loans. Unlike traditional mortgages that require a high credit score, stable employment, and a consistent income stream, Non-QM loans offer more flexible criteria. This flexibility makes them ideal for borrowers with:
- Lower Credit Scores: If your credit score is less than perfect (500-620), a Non-QM loan could provide a pathway to homeownership.
- Unconventional Employment: Self-employed individuals, freelancers, and gig economy workers who may not have a traditional income structure can benefit from Non-QM loans. Specifically, self-employed and alternative documentation borrowers including 1099, P&L, 12 or 24-month bank statements (personal or business), asset depletion,W2 or full documentation.
- Unique Financial Situations: If you’ve experienced a recent credit event (like bankruptcy or foreclosure) or have high debt-to-income ratios, Non-QM loans can provide an alternative route to securing a mortgage.
How Non-QM Loans Can Benefit You
Greater Flexibility: Non-QM loans consider your entire financial picture, not just your credit score or employment status. This means you have a better chance of qualifying, even if you’ve been turned down for a conventional mortgage.
Tailored Solutions: These loans are designed to cater to individuals with unique situations, such as recent graduates, retirees, or those with significant assets but irregular income. Whether you’ve faced financial hardships or simply don’t fit into the traditional loan criteria, Non-QM loans can be customized to your needs.
Alternative Documentation Options: Unlike conventional loans that may require extensive documentation, Non-QM loans often accept alternative forms of income verification, such as bank statements or asset-based qualifiers. This can simplify the process for many borrowers.
Why Choose Us?
At RMS of Texas, we’re dedicated to helping you navigate the complexities of the mortgage process. We understand that life doesn’t always fit into neat financial boxes, and we’re here to offer you the support and guidance you need. Working with Carrington Wholesale, a leader in Non-QM lending, allows us to provide competitive rates and personalized service to help you find the perfect loan for your situation.
Take the Next Step Toward Homeownership Today
Don’t let past financial challenges hold you back from achieving your dream of owning a home. If you’ve been discouraged by previous denials, now is the time to explore your options with a Non-QM loan. Contact us today to learn more and start your journey to homeownership.
Robb Hamilton
NMLS# 358150
Broker License #2407110
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
Homeowners must be 62 years of age or older and live in the home as their primary residence. Homes must meet FHA/HUD minimum property standards. Borrowers must maintain hazard and flood insurance premiums, property taxes, utilities and make any property repairs. Although there are no mandatory monthly principal and interest mortgage payments, interest accrues on the portion of the loan amount disbursed if no payments are made. Program rates, fees, terms and conditions are not available in all states and subject to change. At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds. Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees. The loan balance grows over time and interest is charged on the outstanding balance. The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home. Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment.
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