Non-QM lending has matured significantly. There are now clear tiers of lenders with distinct specialties, price points, and credit floors. Knowing which lender to call first for a specific deal type saves time on both ends and improves your close rate. This is a practical overview of the major non-QM lenders and what they do best.
Bank Statement Programs
For self-employed borrowers who cannot qualify on tax returns, bank statement programs are the primary alternative. Angel Oak, UWM (Bolt program), A&D Mortgage, LendSure, and Acra are the most active. Credit floor requirements vary: Acra accepts 600+ FICO, A&D starts at 620, Angel Oak prefers 660+ for best pricing. Loan amounts up to $3M are available at most of these lenders.
DSCR for Investors
DSCR loans require no personal income verification. The property cash flow relative to PITIA is the qualifying metric. Standard DSCR is 1.0x at most lenders. Angel Oak, UWM Investors Flex, Acra, Defy, and A&D are active in this space. For DSCR below 1.0, Acra and New Silver are among the few lenders who will underwrite with a larger equity position. Short-term rental income with documented Airbnb or VRBO history is accepted at Acra with AirDNA data.
ITIN and Foreign National Programs
ITIN and foreign national borrowers have very limited options at scale. Acra, A&D Mortgage, and LendSure are among the few larger non-QM lenders who actively originate this paper. No U.S. credit history is required at most of these programs. Verify AE availability and state restrictions before sending a scenario.
Aria knows the routing logic for non-QM deals by scenario type: DSCR, bank statement, ITIN, fix-and-flip, and high loan amount. Ask Aria who can do a specific deal before you pick up the phone.
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