At first glance, the term "non-QM" might sound like something to be afraid of. Maybe even a little haunted. But fear not — non-QM mortgage programs aren’t spooky at all. In fact, they’re some of the most flexible, life-changing loan options available for real people with real needs. At Best Option Mortgage, a DBA of ML Mortgage Corp. (NMLS #362312), we specialize in offering in-house, fully supported non-QM solutions that help more borrowers say yes to homeownership.
In this guide, we'll bust the myths, explain exactly what non-QM loans are, break down all the powerful in-house options we offer, and show you who these programs are perfect for. And spoiler alert: if you've ever been told "no" by a big-box lender, a non-QM loan from Best Option Mortgage might just be your best path forward.
What Are Non-QM Mortgage Programs (Without the Scary Stuff)?
"Non-QM" stands for non-qualified mortgage. That just means the loan doesn’t fit the strict guidelines of a conventional mortgage (Fannie Mae, Freddie Mac, or FHA). But that doesn’t mean it's risky or dangerous. It simply means the loan is customized for borrowers who don’t fit the cookie-cutter mold.
Here’s what makes a loan "QM":
Full documentation (W2s, pay stubs, tax returns)
A 43% or lower debt-to-income (DTI) ratio
Ability to repay rules
Standard income verification
If you don’t check all those boxes, a non-QM program might be a better fit. And at Best Option Mortgage, we offer a full menu of in-house non-QM programs that are backed by years of experience under the CWL and ML Mortgage legacy.
Our In-House Non-QM Mortgage Programs
At Best Option Mortgage, we believe that flexible doesn’t mean confusing. Below is a complete overview of the non-QM mortgage programs we offer in-house, customized to your life, your income, and your goals.
🪩 Bank Statement Loans
Who it's for: Self-employed borrowers, 1099 earners, gig workers, entrepreneurs
How it works: Instead of tax returns, we average 12 or 24 months of business or personal bank statements to calculate income.
Why it's awesome:
No tax returns needed
Qualify using actual deposits
Perfect for small business owners and freelancers
🕰 Asset Depletion Loans
Who it's for: Retirees, high-net-worth individuals, investors with liquid assets
How it works: We calculate monthly "income" from your assets, like savings, investments, or retirement accounts, even if you're not working.
Why it's awesome:
Use your money to qualify, even without a job
Great for early retirees or semi-retired professionals
🏠 Investor Cash Flow (DSCR) Loans
Who it's for: Real estate investors, Airbnb hosts, landlords, portfolio builders
How it works: We qualify the property, not your personal income. If the rent covers the mortgage, you’re good to go.
Why it's awesome:
No income, W2s, or tax returns required
Close multiple properties quickly
Perfect for short-term and long-term rentals
💼 1099-Only Loans
Who it's for: Contractors, sales professionals, delivery drivers, independent reps
How it works: We calculate income using just your 1099s from the last 1-2 years.
Why it's awesome:
Avoids full tax documentation
Great for commission-heavy earners
💸 ITIN Loans
Who it's for: Borrowers without a Social Security Number but with a valid ITIN (Individual Taxpayer Identification Number)
How it works: Tailored programs for undocumented or non-citizen residents with established credit and income.
Why it's awesome:
A true path to homeownership for underserved communities
In-house underwriting from our bilingual team
🫰 Recent Credit Event Loans
Who it's for: Borrowers with recent bankruptcies, foreclosures, or short sales
How it works: We evaluate your credit story as a whole, not just your score.
Why it's awesome:
Possible approval 1 day out of BK, foreclosure, or deed-in-lieu
Designed to help you rebuild and buy again
🏡 Jumbo Non-QM Loans
Who it's for: High-income earners buying above conforming limits, self-employed borrowers with complex finances
How it works: Loans from $726,200 up to $3 million+ with flexible documentation.
Why it's awesome:
High balance with fewer hoops
Flexible income and reserve requirements
All of these programs are offered in-house by Best Option Mortgage, and backed by the same core underwriting team that has powered thousands of loans under the ML Mortgage and CWL banners.
Who Are Non-QM Loans Perfect For?
If any of these sound like you, a non-QM mortgage might be your best option:
You're self-employed or own your own business
You earn income through tips, rideshare, deliveries, or gig apps
You have excellent assets but little taxable income
You're an investor with rental properties and no W2
You’ve had a credit event like bankruptcy but are back on your feet
You’re a first-time buyer who needs a creative solution
You don’t have a Social Security Number, but you do pay taxes
In today’s housing market, buyers need more than just a pre-approval — they need a program that actually works for their situation.
Non-QM Doesn’t Mean Subprime — It Means Smart
It’s important to make this clear: non-QM is not subprime lending. These programs are fully underwritten, documented, and responsible. You still have to qualify — just in a way that fits your financial life.
Plus, every loan goes through our compliance and quality control teams, and we work hard to make sure our clients understand exactly what they’re signing.
Why Now Is a Great Time to Consider Non-QM
The market is still tight. Inventory is low. And traditional lending is rigid. Whether you're shopping in a high-price area or dealing with complex income, non-QM gives you powerful options at a time when flexibility matters most.
Rates are still fluctuating — so having more options helps you stay competitive
Cash buyers and investors are active again
Inventory remains low, so when you find the right home, you need to move fast
Let us help you be ready, not scared.
Work With the Non-QM Experts at Best Option Mortgage
We’ve funded thousands of non-QM loans across California, Texas, Arizona, Nevada, and beyond. From bank statements to DSCRs, we’ve designed our entire in-house process around helping you win.
Final Boo-nus: Don’t Fear the Non-QM
Don’t let outdated myths or one-size-fits-all lenders scare you away from buying a home. With Best Option Mortgage, you get the flexibility of non-QM mortgage programs, backed by the strength of our in-house expertise and personalized service.
Ready to find out which non-QM program is right for you? Contact our team today and let’s build a plan that fits your financial life. It’s not trick or treat — it’s just smart lending.
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Best Option Mortgage is a DBA of ML Mortgage Corp. ML Mortgage Corp. is a state-licensed mortgage lender, NMLS ID #362312, licensed by the CA Department of Financial Protection and Innovation under the Finance Lenders Law, License #60DBO69831. For other states, visit www.mlmortgage.net. To verify licenses, visit www.nmlsconsumeraccess.org. All loans are subject to credit approval and acceptable collateral. Additional terms and conditions apply. Programs, rates, terms, and conditions may change without notice. Not all programs are available in all states. There is no guarantee that all borrowers will qualify. Restrictions may apply. This is not a commitment to lend. © 2025 ML Mortgage Corp. All rights reserved.