1 or 2 Year Full Doc Non-QM Loans
Our Full Doc Non-QM loans are a strong fit for small business owners, investors, or other self-employed individuals in Texas who believe they may not qualify for a traditional agency loan.
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Prefer to talk? College Station 979-977-3900 · Mont Belvieu (281) 385-5511
How does a Full Doc Non-QM loan work?
A Full Doc Non-QM loan uses traditional full-documentation income, but it is not an agency loan. You can qualify with either 2 years or 1 year of income history, and the program allows features that agency guidelines often do not, such as non-permanent resident and ITIN borrowers, a past credit event, and loan amounts up to $4 million.
Program features
Loan amounts up to $4 million
Financing for higher-value Texas homes and investment properties.
DTI up to 55% (owner-occupied)
Debt-to-income ratio up to 55% on owner-occupied properties.
Condos and condotels
Warrantable and non-warrantable condos and condotels are eligible, subject to program limits.
Why borrowers choose this program
ITIN allowed
ITIN borrowers are eligible, along with US citizens and permanent and non-permanent residents.
Options after a credit event
As little as 12 months after a credit event; larger loans need more time.
Temporary rate buydowns
Temporary rate buydowns are available on this program. Ask how a buydown works and what it costs.
Program details
- Loan amounts up to $4M.
- DTI up to 55% on owner-occupied properties.
- Reserves of at least 3 months of payments, increasing with loan size.
- Minimum FICO 620, or no credit score. First-time homebuyer requirements differ.
- Purchase and cash-out refinance options, with maximum CLTV set by occupancy, property type, and credit.
- Owner-occupied, second home, and investment properties.
- 2 or 1 year traditional full-documentation income.
- As little as 12 months after a credit event; larger loans need more time.
- Several loan structures are available. We review which ones fit your goals and eligibility.
- Citizenship: US citizen, permanent resident, non-permanent resident, and ITIN. ITIN loans are for purchase and rate/term refinance only.
Cash out on a refinance
Maximum cash in hand depends on your CLTV and credit score. We confirm your limit during review.
On a Texas primary home, cash-out refinances follow the Texas home equity rules (Section 50(a)(6) of the Texas Constitution), which limit how much you can borrow against the home, require a waiting period before closing and between home equity loans, and add other requirements. Second homes and investment properties are not subject to those rules.
Gift funds
Gift funds are allowed and can cover the down payment, closing costs, and reserves. Depending on occupancy and CLTV, a minimum borrower contribution may be required, and gifts may not be available on some investment property loans.
Mortgage payment history
| Tier | Requirement | What it means |
|---|---|---|
| Super Prime | 0x30x12 and 0x90x24 | No mortgage payments 30 or more days late in the last 12 months, and none 90 or more days late in the last 24 months. |
| Prime | 0x60x12 | No mortgage payments 60 or more days late in the last 12 months. |
Eligible property types
Single-family residences (SFR), townhomes, warrantable and non-warrantable condos, condotels, 2-4 unit properties (not eligible as a second home), PUDs, rural SFR, short-term rentals, and leasehold properties.
What a Full Doc Non-QM review looks like
Share your goal
Purchase or cash-out, occupancy, and the Texas property you have in mind.
Review income and assets
We look at 1 or 2 years of full-documentation income and your reserves.
Match the structure
We review the loan structures available to you based on your eligibility.
Underwrite and close
Appraisal, title, and lender underwriting set the final terms.
Self-employed without tax returns to show?
If you would rather qualify with a CPA-prepared or reviewed profit and loss statement, see our 1 or 2 Year P&L Non-QM Loans.
Full Doc Non-QM FAQs
What is a 1 or 2 year Full Doc Non-QM loan?
It is a non-agency mortgage that qualifies you with traditional full-documentation income, using either 1 or 2 years of history. It can be a strong fit for small business owners, investors, or other self-employed borrowers in Texas who believe they may not qualify for a traditional agency loan.
How much can I borrow?
Loan amounts go up to $4 million. How much you can borrow against the property’s value depends on the loan purpose, occupancy, property type, and credit, and we confirm it during review.
What credit score do I need?
The minimum FICO score is 620, and borrowers with no score may also be considered. First-time homebuyers need a higher score, and a lower maximum loan amount and DTI apply.
Can I apply after a credit event?
You may be eligible after a past credit event in as little as 12 months; larger loans need more time. Each file is reviewed individually, and eligibility is not guaranteed.
Can I use gift funds?
Yes. Gifts can cover the down payment, closing costs, and reserves. Depending on occupancy and CLTV, a minimum contribution from your own funds may be required, and gifts may not be available on some investment property loans.
Can ITIN borrowers or non-permanent residents apply?
Yes. US citizens, permanent residents, non-permanent residents, and ITIN borrowers are eligible. ITIN loans are for purchase and rate/term refinance; cash-out is not available.
How many months of reserves do I need?
Reserves start at 3 months of payments, meaning principal, interest, taxes, insurance, and any association dues (PITIA), and increase with loan size. We confirm your requirement during review.
