Heartland Mortgage
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Non-QM Loans

Non-QM (Non-Qualified Mortgage) loans are home financing programs designed for borrowers who don’t fit traditional lending guidelines but are still strong, responsible buyers. “Non-QM” simply means the loan doesn’t meet standard Qualified Mortgage rules — it does not mean the loan is risky or predatory.

These programs help people who have strong assets, consistent cash flow, or business income but may not show it traditionally on W-2s or tax returns.



Who Non-QM loans are designed for

Non-QM loans can be helpful for:

  • self-employed borrowers
  • business owners
  • commission-based earners
  • real estate investors
  • borrowers with recent credit events
  • people with high assets but irregular income
  • foreign nationals or ITIN borrowers (program dependent)

Instead of only focusing on standard income documentation, Non-QM programs allow alternative ways to demonstrate ability to repay.

Common types of Non-QM programs

Examples of Non-QM structures include:

  • bank-statement loans (qualifying using business or personal bank deposits)
  • 1099 income loans
  • asset-depletion/asset-utilization loans
  • interest-only options (program specific)
  • recent credit-event loans (bankruptcy, foreclosure, etc.)
  • DSCR investor loans (falls under the Non-QM umbrella)

Each program has its own eligibility guidelines, down payment options, and documentation standards.

General documentation commonly requested

Depending on the program, lenders may ask for:

  • identification
  • credit report authorization
  • 12–24 months of bank statements (for bank-statement loans)
  • 1099 forms if using 1099 program
  • proof of business ownership if self-employed
  • asset statements for reserves or asset-qualifying options
  • property documentation for purchase or refinance
  • explanation of recent credit events if applicable

Exact requirements vary by lender and loan type, but our team will outline what applies to your situation in advance.

Is a Non-QM loan right for me?

A Non-QM loan may be a fit if:

  • traditional W-2 income doesn’t reflect your true earnings
  • you’re self-employed or own a business
  • your income is seasonal or commission-based
  • you’ve had recent life or credit events
  • you have strong assets or cash flow but non-traditional documentation

Our role is to listen, review your goals, and help match you with programs designed for your financial reality — not just a checklist.

Program Guidelines and Eligibility Considerations

We’re happy to answer questions and review your options. Loan program availability and guidelines can change, and not every borrower or property will meet every program requirement. We’ll help you explore what fits your goals and go through documentation step by step.