When the Standard Box Doesn't Fit
Bank-statement, P&L-only, 1099-only, asset-depletion, ITIN, and foreign-national programs — built for self-employed Phoenix-area buyers who don't qualify on tax returns alone.
- Qualify on bank statements — 12–24 months personal or business deposits
- 1099-only programs for commission earners and gig workers
- P&L-only programs with CPA-prepared statements
- Asset-depletion programs for retirees and high-net-worth files
- ITIN programs for borrowers without an SSN
- Foreign-national lending up to 65% LTV
- Up to $3M loan amount / up to 90% LTV on bank-statement
- Recent credit events (BK / foreclosure) considered as soon as 12 months out
- 30-year fixed and ARM structures across most programs
- Many investor partners — we match the file to the right lane
Estimate your non-qm flexible lending payment
Do you qualify for a non-conforming loan?
Here’s what underwriters actually look at — and what each requirement really means once you’re past the textbook version.
Income Documentation
Bank statements (12–24 mo personal or business), CPA-prepared P&L, 1099 income (1–2 yrs), asset depletion, ITIN with full-doc, or foreign-national asset-based. Pick the lane that matches what you actually earn — we'll match the program.
Credit Score
660 is the practical floor across most of our non-conforming programs. 700+ unlocks the best pricing and the highest LTV. Asset-depletion and foreign-national programs don't always require a US FICO at all — they qualify on the assets themselves.
Down Payment
10–15% down is achievable on bank-statement and 1099 programs at strong credit. 20–25% is standard for asset-depletion and ITIN. 35–40% is typical for foreign-national programs (60–65% LTV ceiling). Your specific lane drives the answer.
Loan Amount
Bank-statement and asset-depletion programs go up to $3M loan amount across most of our investor partners. P&L and 1099 typically top out around $2–2.5M. ITIN and foreign-national programs run lower ceilings. We'll size the file to the program.
Reserves & Assets
3–6 months of PITI is standard on bank-statement and 1099 programs. Asset-depletion programs effectively require the assets that drive qualification (so the bar is much higher by definition). 60% of retirement balance counts toward reserves.
Non-QM Flexible Lending
Non-conforming — the industry calls it non-QM — is the catch-all category for mortgages that don't meet the standard Fannie or Freddie agency rules. If your file doesn't fit the standard W-2-with-2-years-of-tax-returns box, this is the page for you.
Think of it like this: tell us what you actually earn, not what your tax return says you earn. We'll match the program. Self-employed borrowers, business owners, real estate agents, gig workers, retirees, ITIN holders, foreign nationals, and borrowers with a recent credit event all have legitimate paths to financing through the non-conforming market.
The main lanes:
• Bank-statement loans — 12 to 24 months of personal or business deposits qualify you instead of tax returns. Up to $3M loan amount, up to 90% LTV, no mortgage insurance. Best for established business owners whose tax returns understate actual cash flow.
• P&L-only loans — CPA-prepared profit-and-loss statement qualifies you. Faster than bank-statement for borrowers with clean books.
• 1099-only loans — One to two years of 1099 income qualifies you. Built for commission earners, real estate agents, and independent contractors.
• Asset-depletion loans — Convert large liquid assets (investment, retirement, bank) into qualifying income on a long amortization. Best for retirees and high-net-worth borrowers with low taxable income.
• ITIN loans — Borrowers with an Individual Taxpayer Identification Number instead of an SSN. Typically up to 80% LTV, full-doc structure.
• Foreign-national loans — Non-US-resident borrowers buying US property. Typically up to 65% LTV, no US credit required, asset-based qualification.
• Recent credit-event programs — Bankruptcy, foreclosure, or short sale in your past? Some of our programs will consider you as soon as 12 months out (vs. Fannie's 4–7 year wait).
We maintain relationships with many non-conforming investor partners and each has different overlays — part of our job is matching your file to the lane that fits. Your situation and goals matter more than the lowest rate. Tell us up front what your actual income picture looks like and we'll show you the cleanest path.
Non-Conforming Loan vs Conventional vs Jumbo (full-doc) — what’s actually different
If you’re weighing options. Numbers reflect 2026 program parameters.
| Non-Conforming Loan | Conventional | Jumbo (full-doc) | |
|---|---|---|---|
| Income verification | Bank statement, P&L, 1099, asset depletion, ITIN, foreign national | Full doc — 2 yrs tax returns | Full doc — 2 yrs tax returns |
| Minimum credit | 660+ (most programs) | 620 | 700 |
| Minimum down payment | 10% – 30% | 3% – 20% | 10% – 20% |
| Max loan amount | Up to $3M (bank statement) | $806,500 (Maricopa, FHFA) | Up to $3M |
| Property types | Primary, second home, investment, condos | Primary, second, investment | Primary, second home (most programs) |
| Mortgage insurance | None on most programs (incl. 90% LTV bank-statement) | PMI drops at 80% LTV; auto at 78% | None at 80% LTV |
| Best for | Self-employed, 1099, retirees, ITIN, foreign nationals, recent credit events | Standard W-2 borrowers | $806,500+ borrowers with full doc |
Not sure which lane fits? Tell us what your income really looks like — we'll match the right program in about 15 minutes.
What to expect — the 5 steps
Most Elevated non-conforming files close in 18–28 days from first conversation. The doc-collection phase varies by lane (bank-statement, P&L, asset depletion, etc.), but underwriting moves fast once we have the right file shape.
- 1
Lane-fit conversation15 min
Quick conversation about what your income, assets, and credit picture actually looks like. We identify which non-conforming lane (bank-statement, P&L, 1099, asset-depletion, ITIN, foreign-national) fits your file best before we touch the application.
- 2
Pre-approval1–3 days
We pull credit and pre-underwrite against the specific non-conforming program we're targeting. Pre-approval letter goes out tailored to your real buying range — credible, lane-specific, and ready to back an offer.
- 3
Application + processing5–10 days
Once you're in contract, the full application goes in. Bank-statement files: we collect and analyze 12–24 months of statements. P&L files: CPA delivers the statement. Asset-depletion: 60-day asset statements. Each lane has its own doc rhythm.
- 4
Underwriting5–7 days
Manual underwriting against the investor's overlays for the lane we're using. Because we know each investor's preferences, we structure the file to clear underwriting cleanly. Real people evaluating your real situation — not a black-box algorithm.
- 5
Closing1 day
Sign at title, funds disburse, keys hand off. We confirm wire instructions and final cash-to-close numbers 24 hours ahead.
What is a non-conforming loan and who's it for?
A non-conforming (non-QM) loan is any mortgage that doesn't meet the standard Fannie Mae or Freddie Mac qualification rules. It's built for borrowers who can't qualify on tax returns alone — self-employed business owners, commission earners, retirees, ITIN holders, foreign nationals, and borrowers with a recent credit event. We have programs for each lane.
How does a bank-statement loan work?
Instead of W-2s and tax returns, we use 12 to 24 months of your personal or business bank statements. We calculate qualifying income from the deposit averages (with adjustments for non-recurring deposits and for business-account expenses on business statements). Up to $3M loan amount, up to 90% LTV, no mortgage insurance. Best for established business owners whose tax returns don't reflect actual cash flow.
What's a P&L-only loan?
Your CPA prepares a profit-and-loss statement covering the most recent 12–24 months. We qualify off that statement plus a 60-day asset review. Faster than bank-statement for borrowers with clean books and a CPA relationship. Similar LTV and loan amount ranges to bank-statement programs.
Do you offer 1099-only loans?
Yes. One to two years of 1099 income qualifies you — no tax returns required. Built for commission earners, independent contractors, real estate agents, and gig workers whose income is captured cleanly on 1099s but doesn't fit the W-2 box. Common LTV ceiling is 80–85% with strong credit.
How does asset depletion work?
We convert your liquid and retirement assets into a qualifying-income figure by dividing them over a long amortization period (typically the loan term, often 30 years). $3M in liquid assets divided over 360 months produces about $8,333/mo of qualifying income — even if your tax-return income is much lower. Best for retirees, high-net-worth borrowers, and trustees of substantial portfolios.
Do you offer ITIN loans (borrowers without an SSN)?
Yes. ITIN borrowers can qualify with an Individual Taxpayer Identification Number instead of an SSN, with full-documentation underwriting (tax returns, pay stubs, asset statements). Typical ceiling is 80% LTV on primary residences.
Can foreign nationals buy US property through your programs?
Yes. Foreign-national programs typically max out at 60–65% LTV and use asset-based qualification (no US credit score required, no US income required). Common for Mexican, Canadian, and European buyers acquiring Phoenix-area second homes or investment properties.
Are non-conforming rates a lot higher than conventional?
Higher than conventional, yes — typically 0.5–1.5% depending on program, credit, and LTV. But that's the price of qualifying when conventional won't, and for many borrowers the math still beats waiting two more years to fit the conventional box. We'll show you the side-by-side.
What credit score do I need for a non-conforming loan?
Most programs floor at 660–680. Some lanes (asset-depletion, foreign-national) don't require a US FICO at all. Higher credit unlocks better pricing and higher LTV across the board.
How long does non-conforming closing take?
We typically close non-conforming files in 18–28 days from our Scottsdale office. Bank-statement and P&L programs run on the shorter end; ITIN and foreign-national run on the longer end because the documentation review is more involved.
Non-conforming in the Phoenix metro
Phoenix-area self-employed business owners, real estate agents, gig-economy earners, and retirees with portfolio income drive most of our non-conforming pipeline. Buyers often use bank-statement or 1099 programs in Scottsdale and Tempe, asset-depletion in Sun City and Anthem, and foreign-national programs across the broader luxury market. We maintain investor relationships across every lane so the file always has a home.