💥 Non-QM Loans After Bankruptcy, Foreclosure, or Credit Events
💼 What Is a DSCR Loan? (And How Does It Work?)
When “no” from a bank doesn’t mean “no” to homeownership.
If you’ve been told you’re not “qualified” for a mortgage — or you’re unsure if you can get approved based on how you earn or manage your money — you’re not alone.
More and more people are finding success with Non-QM (non-qualified mortgage) loans — mortgages designed for real people with real income, not just perfect paper trails.
So how do you know if one’s right for you?
👉 Here are 5 key questions to ask yourself before applying.
1. 💼 Do I Have Non-Traditional Income?
If you’re self-employed, 1099, commission-based, or working in the gig economy, your income might not “fit the mold” of a traditional mortgage.
If you’ve been told:
- “Your tax returns don’t show enough income”
- “We can’t use that bonus or side income”
- “You need W-2s to qualify”
You might be a great fit for:
- Bank statement loans
- 1099-only loans
- Asset-based programs
2. 🧾 Do I Want to Avoid Using Tax Returns?
Many Non-QM loans don’t require 1040s or IRS transcripts.
If you’d rather qualify using:
- Your monthly deposits
- Your liquid assets
- Your rental income from properties
…then Non-QM gives you the privacy and flexibility to do it your way.
3. 🧨 Have I Had a Recent Credit Event?
Traditional loans require long waiting periods after:
- Bankruptcy
- Foreclosure
- Short sale
- Late payments
But Non-QM loans may approve you just 12–24 months after — especially with compensating strengths like:
- Strong income or cash flow
- Larger down payment
- Good credit recovery
📘 We’ll help you build the full story and position your comeback.
4. 🏘️ Am I Buying an Investment Property?
Traditional lenders require:
- Personal income
- Proof of ability to repay
- Limitations on property types
With DSCR loans, you can qualify based on the rental income from the property — not your job or taxes.
These loans are ideal for:
- First-time investors
- BRRRR strategy buyers
- Airbnb / short-term rental buyers
- Landlords scaling fast
5. 🏁 Do I Want More Control Over How I Qualify?
Maybe you don’t want to wait 2+ years after starting your business.
Maybe you’re asset-rich, income-light.
Maybe you just want a faster, more flexible approval process.
If you’re ready to move forward — even if your paperwork isn’t “perfect” — Non-QM gives you options that traditional lenders simply can’t.
🏢 Why PRMI?
We’re a direct lender with extensive Non-QM offerings — including:
- Bank statement, 1099, DSCR, asset-based, and recent credit event programs
- In-house underwriting and support
- A team that understands your income and your goals
We won’t force you into a box. We’ll build a loan that works for you.
👇 Not Sure If Non-QM Is the Right Fit?
Let’s look at your profile together and give you clear options — no judgment, no pressure.