---
title: NON QM
description: Get clear answers to common conventional loan questions. Learn about requirements, credit score, down payment, PMI, and closing costs.
---

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### **Flexible Non-QM Loans for Every Income Type**

Finance your home with **DSCR, Bank Statement, Asset Depletion, and 1099 loans**—designed for self-employed, investors, and non-traditional income borrowers who don’t fit conventional guidelines.

 

 

 

 

 

 

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FAQ's Below

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Bank Statement

- - **Purpose:** Qualify borrowers using business or personal bank statements instead of traditional W-2 income.
    - **Documentation:** 12 or 24 months of personal or business bank statements.
    - **Credit Score:** Typically 660+ (varies by lender/program).
    - **DTI:** Up to ~50% with compensating factors.
    - **Down Payment:** 10–20% depending on property type and occupancy.
    - **Eligible Borrowers:** Self-employed or irregular income borrowers.
  
   

1099 / Self-Employed Income Loans

- **Purpose:** Qualify borrowers who receive 1099 income instead of W-2.
- **Documentation:** 1–2 years of 1099 forms, possibly tax returns.
- **Credit Score:** Typically 620+.
- **DTI:** Up to ~50%, sometimes higher with strong reserves.
- **Down Payment:** 10–20% typical; can vary by program.
- **Eligible Borrowers:** Independent contractors, freelancers, or gig workers.

Asset Depletion Loans

- **Purpose:** Qualify borrowers based on liquid assets rather than earned income.
- **Documentation:** Bank statements, investment account statements, retirement account statements.
- **Credit Score:** Typically 620+.
- **DTI:** Flexible; payments calculated based on asset drawdown.
- **Down Payment:** 10–20% standard.
- **Eligible Borrowers:** Retirees, high-net-worth individuals, or anyone with substantial liquid assets but limited traditional income.

DSCR (Debt Service Coverage Ratio) Loans

- **Purpose:** Qualify investment property borrowers based on **property cash flow**, not personal income.
- **Documentation:** Property income and expenses (rent roll, leases, P&L).
- **DSCR Requirement:** Typically ≥1.0–1.25 (net operating income ≥ debt payments).
- **Credit Score:** Usually 620+–680.
- **Down Payment:** 20–30% standard for investment properties.
- **Eligible Borrowers:** Real estate investors or income-producing property owners.

# Nelson Group Powered by Edge Home Finance

            Mortgage financing should feel like a relationship, not a transaction!

 

Kenny Nelson

NMLS #856822

 

Nelson Group

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5868 Baker Rd

Minnetonka, MN 55345

 

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Kenny Nelson

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