← Back to glossary
Mortgage glossary
Non-QM Loan
A mortgage that does not meet the federal definition of a Qualified Mortgage. Some Non-QM programs use different ways to document income or evaluate a property. They are still subject to applicable laws, lender guidelines, verification, underwriting, and approval.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.