Available for Virginia properties.
Non-QM home loans
For self-employed borrowers, ITIN borrowers, and buyers of non-warrantable condos who need an alternative to a standard conventional file.
Non-QM is a category, not one loan. Bank statement, P&L, 1099, asset depletion, ITIN, and non-warrantable condo programs each solve a different documentation or property problem.
How it works
A non-QM loan is any mortgage that does not follow standard qualified-mortgage conventional guidelines. The reason might be how income is documented, how the borrower is identified, or how the property is eligible.
Bank statement and P&L programs use business or personal deposits or an accountant-prepared profit-and-loss statement. 1099 programs use independent-contractor income. Asset depletion uses eligible assets rather than employment income. ITIN programs are for borrowers who use an Individual Taxpayer Identification Number. Non-warrantable condo programs address buildings that do not meet standard agency condo rules.
Rockhouse Mortgage compares these wholesale programs for Virginia owner-occupied and, where eligible, second-home files. Investment-property bank statement and similar programs may overlap with investor products; we will point you to the right hub.
What lenders look at
- Which documentation method actually matches how you are paid
- Credit profile and reserves
- Property type, including condo questionnaires when relevant
- Occupancy
- Experience and the rest of the file
Eligible properties
- Virginia primary residences, and some second-home scenarios
- Condos that may be non-warrantable, subject to the program
- Property types permitted by the specific non-QM overlay
Related case study studies
Case study
Bank Statement Mortgage in Richmond, VA: Closed in 24 Days
A self-employed borrower who qualified from bank statements rather than tax returns.
Read the case study →
Case study
Asset-Depletion Mortgage in Charlottesville, VA
A file that used eligible assets instead of employment income.
Read the case study →
Case study
ITIN Mortgage in Virginia: Family Buys in Woodbridge With 10% Down
An ITIN borrower who purchased with an alternative documentation program.
Read the case study →
Case study
Non-Warrantable Condo in Arlington: Closed With Alternative Documentation
A condo that did not fit standard warrantable guidelines.
Read the case study →
Want help comparing programs?
Rockhouse Mortgage compares wholesale lender programs for the scenario in front of us. Start with a call or an online application.
Frequently asked questions
Do I still need tax returns on a bank statement loan?
Some bank statement programs do not use tax returns as the primary income method. Others may still request them. It depends on the lender and the rest of the file.
Is asset depletion only for retirees?
Asset depletion is often used when employment income is light relative to assets. It is not limited to one age group. Eligible asset types vary by program.
What makes a condo non-warrantable?
Common issues include investor concentration, pending litigation, or budget/reserve problems. A condo questionnaire is usually required before we know whether a non-warrantable program is needed.
Are non-QM loans only for bad credit?
No. Many non-QM borrowers have strong credit and simply do not fit W-2 underwriting. Credit still matters, and overlays vary.
Match the documentation method to your file
Tell us how you are paid and what you are buying. We will compare bank statement, P&L, 1099, asset depletion, ITIN, or condo options rather than forcing a W-2 box.
703-999-0903Loan programs, rates, fees, terms, and eligibility requirements are subject to change without notice. All loans are subject to credit, income, asset, property, and underwriting approval. This information is for educational purposes only and is not a commitment to lend.
Rockhouse Mortgage, LLC · NMLS #2469785 · Harry Hager, NMLS #647108 · Licensed by the Virginia Bureau of Financial Institutions · Outside Virginia, business-purpose investment property loans only · Equal Housing Opportunity