Definition
QM loans adhere to strict guidelines set by the Consumer Financial Protection Bureau (CFPB).
These loans have stable features that make them less risky for lenders and borrowers.
QM loans, regulated by the CFPB, offer stability for both lenders and borrowers, with features like a 43% DTI limit and verified income/assets.
Ameritrust-Mortgage offers a variety of QM loans, providing borrowers with stable and predictable financing options.
Definition
Non-QM loans do not meet the QM guidelines, allowing for more flexibility in underwriting criteria.
Non-QM loans help ineligible borrowers, like self-employed or those with non-traditional credit, offering tailored financial solutions.
Non-QM loans may feature higher DTI ratios, interest-only payment options, or alternative documentation requirements.
Ameritrust-Mortgage provides Non-QM loans for diverse financial profiles, offering tailored financing solutions to meet individual needs.
Qualified Mortgage (QM) loans adhere to strict guidelines set by regulatory agencies like the Consumer Financial Protection Bureau (CFPB), ensuring stability and reliability for both lenders and borrowers. Non-QM loans, on the other hand, offer more flexibility in underwriting criteria but may not meet QM guidelines.
QM loans provide stable features and lower risk for lenders and borrowers due to their adherence to strict criteria, including maximum debt-to-income ratios and no risky loan features. Non-QM loans offer flexibility in underwriting, catering to borrowers with unique financial situations or non-traditional income sources.
While QM loans suit borrowers with traditional financial profiles and stable income, Non-QM loans cater to individuals who may not qualify for QM loans due to reasons like self-employment income, non-traditional credit history, or high debt-to-income ratios. Ameritrust-Mortgage offers both QM and Non-QM loan options to meet the diverse needs of borrowers in the housing market.
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