Angel Oak Mortgage 2026: Non-QM Specialty Programs for MLOs

Angel Oak Mortgage Solutions is one of the most recognized non-QM wholesale lenders in the country. They operate a large secondary market for non-agency paper and offer a broad product menu spanning bank statement, DSCR, asset qualifier, and investor products. For brokers who originate non-QM volume, Angel Oak is typically one of the first calls.

Core Non-QM Product Lines

• ✦Bank Statement: 12- or 24-month personal or business bank statement income; FICO floors typically start at 620
• ✦Investor Cash Flow (DSCR): DSCR as low as 0.75; loan amounts up to $3M; short-term rental income eligible with market rent analysis
• ✦Asset Qualifier: qualifying income from assets without employment income; FICO floor 700+; up to $3.5M loan amount
• ✦1099 Income: qualifying from 1099 earnings only, without full tax return analysis; W-2 optional

LTV and FICO Tiers

Angel Oak uses a tiered pricing model where LTV and FICO interact to determine rate adjustments. Bank statement products run LTV up to 90% with FICO 700+, stepping down to 80% at FICO 660 and 75% at FICO 620. DSCR products run up to 80% LTV with FICO 700+. These tiers shift periodically -- always pull the current matrix from the portal before pricing. Do not rely on memorized tiers from prior months.

What MLOs Should Know About Approval Speed

Angel Oak has a dedicated non-QM underwriting team and typical turn times of 5 to 7 business days for conditional approval on complete files. Incomplete files or missing documentation are the most common cause of delays. Submit a complete package: 12 or 24 months of clean bank statements, entity docs for business accounts, signed 4506-C, and a detailed income analysis worksheet. Exceptions are available through your AE but require scenario review before submission.