At Premier Mortgage, we empower Alaskans in Wasilla, Anchorage, Palmer, Homer, and beyond to achieve homeownership with Non-QM loans (non-qualified mortgages). Designed for borrowers with non-traditional income or financial situations, Non-QM loans offer flexible qualification methods, making them ideal for self-employed individuals, real estate investors, or those with credit challenges. Our expert team provides tailored solutions to finance your dream home in Alaska’s unique housing market. Apply Online or call (907) 841-1600 to get started.
What Are Non-QM Loans?
Non-QM loans are mortgages that don’t meet the strict “qualified mortgage” (QM) criteria set by federal regulators post-2008 to reduce lender risk. Instead, they use alternative methods to verify income or assets, allowing borrowers who don’t qualify for conventional loans to secure financing. While not inherently riskier, Non-QM loans require more processing, leading to slightly higher interest rates (~7-12% in 2025 vs. 6.5-7% for conventional loans). At Premier Mortgage, we ensure you can repay your Wasilla or Anchorage Non-QM loan with confidence.
Who Benefits from Non-QM Loans in Alaska?
Non-QM loans are perfect for Alaskans with unique financial profiles:
- Self-Employed Borrowers: Use 12-24 months of bank statements instead of tax returns to qualify, ideal for freelancers in Anchorage or business owners in Wasilla.
- Asset-Rich Borrowers: Finance a Homer home purchase with a Non-QM loan to maintain cash flow, leveraging substantial assets.
- Real Estate Investors: Fund flips or rental properties in Palmer with projected rental income or quick-turnaround financing.
- Foreign Buyers: Non-U.S. residents with high income or assets but no U.S. credit score can secure Non-QM loans for Alaska properties.
- Credit-Challenged Borrowers: Qualify despite past bankruptcy, foreclosure, or limited credit history with sufficient income.
Benefits of Non-QM Loans
- Flexible Qualification: Non-traditional income or financial situations are accommodated.
- High Loan Amounts: Finance up to $2.5M for primary residences, second homes, or investment properties.
- Variety of Terms: Fixed-rate and adjustable-rate mortgages (ARMs), including interest-only or extended terms (e.g., 40 years).
- Fast Closing: Closes as quickly as conventional loans, critical for Anchorage’s competitive market.
- No PMI: No private mortgage insurance required, reducing costs.
- Cash-Out Refinancing: Access up to $500,000 in equity for investments or expenses in Homer.
- Entity Loans: Loans can be made to legal entities like family trusts, not just individuals.
Non-QM Loan Types Available
Premier Mortgage offers a range of Non-QM loans to suit Alaska’s diverse borrowers:
- Bank Statement Loans: Qualify using 12-24 months of personal or business bank statements, perfect for self-employed Alaskans in Wasilla.
- Asset-Based Loans: Use liquid assets (e.g., retirement accounts, investments) for qualification, ideal for asset-rich buyers in Anchorage.
- Debt Service Coverage Ratio (DSCR) Loans: For investors in Palmer, qualify based on rental property cash flow.
- Interest-Only Loans: Lower initial payments for 5-10 years, suited for high-income borrowers in Homer.
- 1099 Loans: For gig workers or contractors with irregular income.
- Uses: Primary residences, refinances, cash-out refinances, or investment properties.
Non-QM Loan Qualifications and Documentation
Qualifications vary based on your financial situation, taking a holistic approach:
- Credit Score: Typically 620+, though some programs allow lower scores with compensating factors.
- Debt-to-Income (DTI) Ratio: Up to 50%, higher than QM loans (43%).
- Down Payment: 10-30%, depending on loan size and credit profile (e.g., $100,000-$300,000 on a $1M home).
- Income Verification: Options include:
- 12-24 months of bank statements (personal/business).
- Investment account statements (retirement, stocks).
- 1-2 years of tax returns or 1099s.
- No income verification in some asset-based cases.
- Assets/Reserves: 6-12 months of reserves for larger loans ($1M+).
- Other: Proof of identity, employment history, or property details.
Not sure what documents you need? Contact our Anchorage team at (907) 841-1600 for a free consultation.
Why Choose Premier Mortgage for Non-QM Loans in Alaska?
- Local Expertise: We understand Alaska’s housing market, from Wasilla’s family homes to Homer’s investment properties.
- Flexible Solutions: Tailored Non-QM programs for self-employed, investors, or credit-challenged borrowers.
- Fast Process: Online application and quick closings for Palmer or Anchorage purchases.
- Trusted Lender: Serving Alaskans with transparency and personalized service.
Apply for Your Non-QM Loan Today
Ready to buy or refinance in Wasilla, Anchorage, Palmer, or Homer? Premier Mortgage’s Non-QM loans make homeownership possible for unique financial situations. Apply Online or call (907) 841-1600 for a free consultation. Start your Alaska homeownership journey today!
Disclaimer: These materials are not from HUD, VA, FHA, or USDA and were not approved by any government agency. Premier Mortgage is not affiliated with any government entity. Refinancing may result in higher finance charges over the loan term.
