Non-QM, asked straight.
Answered straighter.

QM stands for "qualified mortgage" — a federal category with a rigid income-documentation formula (W-2s, tax returns, standard DTI). A non-QM loan sits outside that formula but is still fully underwritten under federal ability-to-repay rules. The lender still verifies you can afford the loan; it just accepts different evidence — bank statements, rental income, 1099s, or assets.

No, and this is the myth that keeps qualified borrowers renting. Subprime lending (pre-2008) often skipped income verification entirely. Non-QM lending verifies income rigorously — through documents that fit self-employed and investor life. Ability-to-repay is federally required on every file.

Generally somewhat higher than a comparable conventional loan — that’s the price of flexible documentation. How much higher depends on the program, your down payment, credit, and the deal itself. Joe shows the honest side-by-side so you can decide if the tradeoff is worth it (for most non-QM borrowers, the alternative is no loan at all).

Yes. Many borrowers use non-QM to buy now, then refinance into conventional once their tax returns catch up with reality — after two strong filing years, for instance. There’s no lock-in; it’s a loan, not a life sentence.

It varies widely by program — many non-QM programs start around 620–660, with the best terms at 700+. Some ITIN programs accept alternative credit with no score at all. Credit is one input, not a gate: strong assets, bigger down payments, and strong ratios all offset.

Typical ranges: 10–20% on bank statement and 1099 programs, 20–25% on DSCR and asset qualifier, 15–25% on ITIN, 25–30% for foreign nationals. Larger down payments unlock better pricing and looser guidelines on nearly every program.

Most alt-doc programs want two years of self-employment, but some accept one year — especially with prior W-2 history in the same field. Bring Joe your timeline and he’ll tell you which investors it fits.

No. The first conversation is a conversation — how you earn, what you’re buying, which programs fit. Credit gets pulled when you decide to move forward, not before.

Joe is licensed in Minnesota & Wisconsin (NMLS #866085). Investment-property DSCR and bridge programs may reach further through Fairway’s footprint — ask Joe about your specific state.

He reads it, usually asks two or three follow-up questions, and names the programs worth running. From there it’s your call whether to go further. No drip campaigns, no hand-off to a call center — the number on this site is his.

No. There are no forms, no trackers, no analytics, and no cookies set by this site. When you’re ready to apply, links route to Fairway’s secure corporate systems — nothing about you ever lives here.