The short answer
A non-QM (non-qualified mortgage) loan uses qualification methods outside the standard Qualified Mortgage rules. Lenders still must make a reasonable, good-faith determination that you can repay, but the way income or assets are documented may differ.
Mortgage guidance with Jennifer Reich · NMLS 162239
Some borrowers have strong finances that simply don't show up neatly on a tax return or W-2 — business owners, borrowers with significant assets, or people with recent life changes. Non-QM financing exists to evaluate those situations differently.
Non-QM loans often carry higher rates, larger down payments, or different terms than conventional or government loans. They are a tool for specific situations, not a shortcut, and the best first step is a conversation about your goals and documentation.
What is a qualified mortgage?
The Consumer Financial Protection Bureau defines a Qualified Mortgage (QM) through rules covering loan features, pricing, and how ability to repay is documented. Loans outside those rules are called non-QM. Non-QM does not mean unregulated — Ability-to-Repay requirements still apply.
Which non-QM options are available?
Non-QM is a broad category, and specific product availability changes over time. Rather than list products here, Jennifer will review your situation and explain which alternative qualification options, if any, are currently available to you — along with their costs and tradeoffs compared to conventional financing.
Who may want to explore it
- Self-employed borrowers whose tax returns understate cash flow
- Borrowers with substantial assets but non-traditional income
- Real estate investors with unique scenarios
- Borrowers who narrowly miss standard guidelines
Documentation & eligibility
- Varies by option — Jennifer will provide a specific list
- Typically identity, asset, and property information
- Business or bank records may be requested depending on the option
Benefits
- Different ways to document ability to repay
- Can serve scenarios standard loans may not
- Potential path while working toward conventional eligibility
Tradeoffs
- Typically higher rates and fees than conventional
- Often larger down payments and reserves
- Terms vary more widely between products
Questions to ask Jennifer
- Do I actually need non-QM, or could I qualify conventionally?
- Which alternative qualification options are available right now?
- How do the rate, down payment, and reserves compare?
- Is there a path to refinance into conventional later?
Non-QM Loans: common questions
What is a qualified mortgage?
The Consumer Financial Protection Bureau defines a Qualified Mortgage (QM) through rules covering loan features, pricing, and how ability to repay is documented. Loans outside those rules are called non-QM. Non-QM does not mean unregulated — Ability-to-Repay requirements still apply.
Which non-QM options are available?
Non-QM is a broad category, and specific product availability changes over time. Rather than list products here, Jennifer will review your situation and explain which alternative qualification options, if any, are currently available to you — along with their costs and tradeoffs compared to conventional financing.
Utah mortgage guidance
A local conversation. A property-specific plan.
Jennifer serves borrowers in Davis County and Washington County from her Kaysville office. Eligibility depends on your financial profile, the actual property, and the loan program—not simply the city where you buy.
Office: 69 East 200 North, Suite A, Kaysville, UT 84037. Programs and terms are subject to underwriting and may change.