Equal Housing Lender
Fairway NMLS #2289
Ken Powell NMLS #2656628
Non-QM (non-qualified mortgage) programs qualify you on the financial reality a tax return often hides: real deposits, real assets, real rental income. Ken spent over a decade self-employed himself, so this is not a side product for him. It is the core of his practice.
Each card explains who the program is built for. Not sure which fits? That is exactly what the scenario review is for.
Qualify with 12 to 24 months of deposits or 1099 income instead of tax returns. Built for business owners and contractors whose write-offs understate what they actually earn.
Self-employedQualify using a prepared profit and loss statement for your business, a fit for established owners whose financials tell the story better than bank statements do.
Business ownersSubstantial savings or investments but modest documented income? Your liquid assets are converted into qualifying income. Common for retirees and high-net-worth buyers.
Asset-richThe property qualifies, not you. Rental income covers the payment, and your personal tax returns stay out of the file. The workhorse loan for building a rental portfolio.
InvestorsMortgages for borrowers who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number. Currently available for self-employed ITIN filers.
No SSN requiredWhen the condo project, not the borrower, fails conventional guidelines. Financing for buildings with high investor concentration, litigation, or other warrantability issues.
Condo buyersRates modestly above conventional, larger down payments, and reserve requirements that vary by program. Non-QM is not a discount product. It is an access product.
Qualification that reflects your actual financial strength, faster files with fewer document battles, and the ability to buy or invest years before a tax return would let you. Many borrowers refinance into conventional later once their documented income catches up.
Fairway's loan program guide identifies multiple Non-QM paths, including bank statement financing, ITIN loans, DSCR investment financing, asset depletion, solutions for higher debt-to-income situations, interest-only structures and options for investors with many financed properties. These programs are not interchangeable, which is why I start with the scenario before selecting a product.
Bank statements, assets and other alternative methods may tell a stronger story than a standard W-2 or tax-return calculation for an eligible borrower.
DSCR financing can focus on the rental property's income relative to housing expenses for an eligible non-owner-occupied investment.
Interest-only, credit-event and multiple-property solutions each have different pricing, equity and documentation requirements. Send the full scenario before ruling the file out.
That is normal. Send Ken your scenario and he will match the program to the problem, or tell you if conventional actually beats all of them for your situation.