DELAWARE HOME LOAN PROGRAMS
Delaware Non-QM Loans
Explore mortgage options for self-employed borrowers, real estate investors, and people with less traditional financial profiles.
Flexible Non-QM Loans in Delaware
Some borrowers benefit from exploring alternative underwriting options. A non-QM loan (non-qualified mortgage) does not meet certain Qualified Mortgage criteria. Available products, eligibility, costs, and risks vary by lender and loan.
Powered by Cornerstone First Mortgage, we have access to many exceptional property lending programs. That’s why we offer multiple solutions to meet the diverse needs of our clients. If you’ve found conventional loan requirements to be a hurdle, let’s explore how our non-QM programs can help you achieve your real estate goals.
Non-QM Solutions Based on Income
Our lenders offer several non-QM loan programs to meet the diverse needs of our clients here in Delaware. Program availability, documentation, credit requirements, and terms vary by lender. A loan officer can review which options fit your situation:
Bank Statement Loans: Some programs may use verified personal or business bank statements to assess income. Required documentation, eligible deposits, and expense calculations vary by lender. Ask which methods are available for your situation.
Asset Qualifier Loans: Some programs may use verified assets in qualification. Assets can also support qualification for certain Qualified Mortgages, so using assets does not automatically make a loan non-QM. Ask how eligible assets, reserves, and repayment capacity are assessed.
Mortgage Loan Options Based on Credit
We believe that a less-than-perfect credit score shouldn’t automatically disqualify you from homeownership. Our non-QM loan options provide pathways to financing for borrowers who may not meet the strict credit score requirements of conventional loans.
Mortgage Solutions Based on Loan Type
Jumbo Non-QM Loans: Jumbo refers to a loan amount above the applicable conforming limit; QM status is a separate classification. Some jumbo loans are Qualified Mortgages and some are non-QM. Eligibility and underwriting depend on the specific program.
DSCR (Debt Service Coverage Ratio) Loans: Some investment-property programs assess rental income relative to housing debt service. Required ratios, rental analysis, credit, reserves, documentation, and terms vary by lender. Business-purpose investment loans have different requirements from consumer mortgages; a DSCR label alone does not establish non-QM status. Ask a loan officer which options are currently available.
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Sources and Program Details
These references explain general loan features and program requirements. Available products, qualification rules, rates, and terms depend on the lender, borrower, property, and project. Ask a loan officer to confirm the options available for your situation.
Find Your Non-QM Solution with Delaware Home Loan Pros
Navigating the world of mortgages can be complex, but our team here at Delaware Home Loan Pros is here to help. We are experienced in Non-QM lending and are dedicated to finding the right financing solution for your unique situation.
Whether you’re a self-employed professional, a real estate investor, or a homebuyer with a less traditional financial profile, we are ready to assist you.
Ready to explore your Non-QM loan options? Start now and have a consultation with a licensed loan officer.