Non-QM vs. Traditional Mortgages: 

Find Your Path to Homeownership or the perfect refinance option with First Equity Home Loan, Inc.  Since 1987, First Equity Home Loan, Inc. has been crafting mortgage solutions for Alabama borrowers, helping dreams take root from Huntsville’s Rocket City to Birmingham’s Magic City and beyond. Our Non-QM (Non-Qualified Mortgage) loans break the mold of traditional financing (qualified mortgage... like fannie, freddie, fha, etc.), offering flexible, fast, and borrower-friendly options for self-employed professionals, real estate investors, and those with unique financial profiles. Ready to own your Alabama home or investment property? Discover why Non-QM could be your key—and act now!

Non-QM vs. Traditional Mortgages: What’s the Difference?

Advantages of Non-QM Mortgages

1. Flexible Qualification: Perfect for Alabama’s entrepreneurs, gig workers, and investors. Use bank statements, 1099s, or assets—no W-2s or tax returns required.
2. Higher Debt Ratios Allowed: Higher or no DTI caps mean you can borrow more, even with existing loans or variable income.
3. Faster Closings: Simplified docs speed up approvals, getting you into your Huntsville or Birmingham home or investment property quicker.
4. Investor-Friendly: DSCR loans qualify based on rental income, ideal for short-term rentals (Airbnb/VRBO) or foreign nationals.
5. No Prepayment Penalties: Refinance or sell without fees, giving you freedom in a dynamic market.
6. Tailored Solutions: Since 1987, we’ve helped clients across Alabama navigate unique financial situations with personalized Non-QM plans.

Disadvantages of Non-QM Mortgages

1. Higher Interest Rates: Not in all cases but, Non-QM loans may carry slightly higher rates than traditional mortgages due to increased lender risk (typically 1-2% higher).
2. Larger Down Payments: Some programs require 10-20% down, compared to 3-5% for FHA or conventional loans.
3. Limited Lender Availability: Few Alabama lenders offer Non-QM—lucky for you, First Equity Home Loan, Inc. is a pioneer in this space!
4. Credit Requirements: While flexible, some Non-QM loans still require decent credit scores (often 620+). We're looking for a minimum 620. Lower scores will result in lower loan to value rations.

Why Act Now with First Equity Home Loan, Inc.? 

Alabama’s real estate market is booming, from Huntsville’s tech-driven growth to Birmingham’s vibrant revival. Many homeowners are sitting on large equity position. Don’t let rigid traditional mortgages hold you back. Our Non-QM loans are built for you—the self-employed tech founder, the Airbnb host, the investor eyeing Mobile’s waterfront, or the retiree with assets but no W-2. With faster closings and higher debt ratios allowed, we turn “no” into “yes” in weeks, not months. Based in Gadsden, just 300 feet from the Coosa River, we’ve been Alabama’s trusted lender since 1987, serving every corner of the state with expertise and care.Take Action Today:

• Get a Quick Quote: Share your credit score and basic details for a personalized Non-QM rate in minutes.
• Apply Now: The fastest way to secure your loan—streamlined docs, rapid approvals, and no hassle.

Don’t wait for traditional lenders to catch up. Build your Alabama legacy now with First Equity Home Loan, Inc.