Non-QM
1-Year Income NonQM
Unlock your homeownership dreams with CMRE's 1-Year Income NonQM loan program. This program offers flexibility for borrowers who may not qualify for traditional mortgages, using just one year of income documentation to get you approved. With rates starting at 7.5%, this program is designed to help you achieve your real estate goals.
Program Benefits
Qualify with only one year of income documentation.
Ideal for self-employed individuals and entrepreneurs.
Competitive rates starting at 7.5% for qualified borrowers.
More flexible underwriting guidelines than traditional mortgages.
Perfect for borrowers with unique income situations.
Loan amounts available to fit a variety of property needs.
Program Highlights
Max LTV
80%
Min Credit Score
660
Max DTI
55%
Loan Amount Range
$100K - $3M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Multi-Family (up to 4 units)
Program Requirements
Income Documentation
- •One year of self-employment or business income documentation.
- •Verification of income stability.
- •Acceptable sources of income include self-employment, business revenue, and investment income.
- •Income must be sufficient to cover mortgage payments and other debts.
Asset Verification
- •Sufficient assets to cover down payment and closing costs.
- •Verification of asset liquidity.
- •Acceptable assets include savings accounts, investment accounts, and retirement funds.
- •Gift funds may be considered with proper documentation.
Insurance & Title
- •Homeowners insurance required.
- •Flood insurance may be required depending on the property location.
- •Proof of insurance coverage must be provided prior to closing.
- •CMRE can assist you in finding suitable insurance options.
Property Requirements
- •Minimum FICO score of 660.
- •Review of credit history for past delinquencies or derogatory marks.
- •Demonstrated history of responsible credit management.
- •Consideration of compensating factors for borrowers with limited credit history.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A NonQM (Non-Qualified Mortgage) loan is a type of mortgage that doesn't meet the strict requirements of a Qualified Mortgage (QM). This allows lenders to offer more flexible loan options to borrowers who may not qualify for traditional mortgages due to factors such as income verification, debt-to-income ratio, or credit history.
Interest rates for NonQM loans are typically higher than those for traditional mortgages, reflecting the increased risk associated with these loans. Rates for the 1-Year Income NonQM loan program start at 7.5%, but the actual rate you receive will depend on your credit score, loan amount, and other factors.
Yes, you can refinance your existing mortgage into a 1-Year Income NonQM loan if you meet the eligibility requirements. This can be a good option if you're self-employed or have difficulty documenting your income through traditional methods.
The maximum loan amount for a 1-Year Income NonQM loan can vary depending on the lender and the specific loan program. At CMRE, we offer loan amounts ranging from $100,000 to $3,000,000 for this program.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
