Washington NON-QM Lenders

Washington NON-QM Lenders For No-Doc and DSCR Loans

Gustan Cho Associates are mortgage brokers licensed in 48 states

Washington NON-QM Lenders are offering multiple non-prime loans throughout the state. Homebuyers in Washington state no longer are tied with government and conventional loans. Washington Non-QM lenders can offer a selection of various non-QM and non-prime mortgage loan options for owner-occupant, second homes, and investment properties.

No-Doc mortgage loans are becoming increasingly popular for homebuyers with non-traditional forms of income. No income documentation is required on non-Doc loans.

DSCR mortgage loans is the next most popular loan program in Washington state. Washington non-QM lenders can have one or dozens of non-QM mortgage loan options. DSCR mortgage loans is another form of no income documentation loan. The subject property market rent needs to cover the mortgage payment and housing expenses (PITI). Due to the dozens of non-QM and non-prime loan programs available in Washington, The booming Washington housing market have never been this strong. The housing market in Washington is expected to continue on a bullish trend well into 2023 into 2024 with no sign of a slowdown.

Washington Non-QM Lenders for No-Doc and DSCR Loans

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Non-qualified mortgage (non-QM) loans are designed for borrowers who may need to meet the strict criteria of conventional loans. These loans are often used by self-employed individuals, real estate investors, or those with irregular income. In Washington, several lenders specialize in non-QM loans, including No-Doc and Debt Service Coverage Ratio (DSCR) loans.

Key Non-QM Loan Types: No-Doc Loans

No income documentation is required. Suitable for self-employed borrowers or those with complex income streams. Approval is based on credit score, asset verification, and property value.

DSCR Loans

Designed for real estate investors. Approval is based on the property’s income rather than the borrower’s income. DSCR measures the property’s ability to cover debt obligations.

Leading Non-QM Lenders in Washington

In this section, we will cover the top Washington Non-QM lenders.

Washington Non-QM Lenders: Gustan Cho Associates

  • Gustan Cho Associates specializes in a wide range of non-QM loans, including no-doc and DSCR.
  • Offers flexible underwriting and competitive rates.
  • Known for helping borrowers with unique financial situations.


Washington Non-QM Lenders: GCA Mortgage Group, Inc.

  • Provides non-QM loan products such as No-Doc, bank statements, and DSCR loans.
  • Offers solutions for self-employed borrowers and real estate investors.
  • Flexible qualification requirements and quick closing times.


  • Phone: 630-915-7550
  • Website: GCA Mortgage Group | https://www.gcamortgage.com/

Washington Non-QM Lenders: Non-QM Mortgage Brokers

  • It specializes in non-QM lending, including no-doc and DSCR loans.
  • Provides tailored mortgage solutions for borrowers with unique income profiles.
  • Competitive rates and terms for real estate investors.


  • Phone: 630-345-2903
  • Website: Non-QM Mortgage Brokers|https://www.non-qmmortgagebrokers.com/

Washington Non-QM Lenders: Preferred Mortgage Rates

  • It offers a variety of non-QM loan products, including no-doc and DSCR loans.
  • Known for innovative loan solutions and personalized service.
  • Focuses on meeting the needs of self-employed borrowers and investors.


  • Phone: 844-90-RATES
  • Website: Preferred Mortgage Rates: https://www.preferredmortgagerates.com/

Steps to Secure Non-QM Loan With Washington Non-QM Lenders

Washington NON-QM LendersEvaluate Your Needs: Determine the type of Non-QM loan that suits your situation (No-Doc, DSCR, etc.). Compare different lenders based on their loan offerings, terms, and reputation. Gather necessary documents, such as credit reports, asset statements, and property details. Submit a pre-approval application to understand your borrowing capacity and strengthen your offer. C

onsider using a mortgage broker to help navigate the Non-QM loan process and find the best terms. Complete the loan application, undergo underwriting, and finalize the closing process.

Non-QM loans provide a valuable alternative for borrowers in Washington who may not qualify for conventional mortgages. Whether you need a No-Doc or DSCR loan for investment properties, these lenders offer flexible solutions to meet your unique financial needs. If you have any specific questions or need further assistance, feel free to ask!

Washington Non-QM Lenders Opening More Doors For Real Estate Investors

With a strong economy in the state, many investors are turning to real estate. The dozens of nonprime loan programs available for owner-occupant homes, second homes, and investment properties is enticing more homebuyers and real estate investors to get into the action of real estate investing. NON-QM mortgages is becoming more popular than ever.

Best Washington Non-QM Lenders With Hundreds of Non-Prime Mortgage Loan Options

Gustan Cho Associates is expanding their coverage area and now offer NON-QM loans in the state of Washington. Gustan Cho Associates are mortgage brokers licensed in 48 states including the state of Washington. Gustan Cho Associates is the largest non-QM Washington Non-QM Lenders with over 210 wholesale lending partners. The team at Gustan Cho Associates are experts in being able to do mortgage loans other lenders cannot do. Over 80% of our borrowers are folks who could not qualify at other mortgage companies. In this blog we will discuss what NON-QM mortgage options are available at Gustan Cho Associates, how to apply for a NON-QM loan in the state of Washington, and a few fun facts about the state.

Understanding Non-Qualified Mortgages

Why is NON-QM mortgage lending becoming more popular? Non-QM mortgages are not just for borrowers with good credit. Many borrowers of non-QM mortgage loans benefit self-employed borrowers, business owners, high net individuals, and foreign real estate investors. First, it is important to understand what a NON-QM mortgage loan means. A NON-QM mortgage loan is simply a “non-qualified” mortgage. According to the consumer financial protection bureau (CFPB), a qualified mortgage is a mortgage in which the lender must follow agency requirements (agency guidelines) to qualify. The lender must verify you have the ability to repay your mortgage loan.

Difference Between Qualified Mortgage Versus Non-QM Mortgage

A qualified mortgage is your everyday mortgage product such as conventional mortgage lending, FHA, VA, and USDA. These mortgage loans are what the majority of Americans have used to purchase their homes. However, there is an entire realm of NON-QM mortgage lending. With a qualified mortgage, certain risky loan features are not allowed such as interest only, negative amortization, or balloon payments. There are also very strict debt to income and asset requirements for a qualified mortgage loan. Because mortgage guidelines have become so strict since the real estate crash of 2008, many borrowers turn to NON-QM mortgage lending to qualify.

12-Month Bank Statement Mortgages For Self-Employed Borrowers

What are some popular NON-QM mortgage products? Bank statement mortgage lending for self-employed individuals are probably the most popular NON-QM mortgage lending product with Gustan Cho Associates.

We qualify many of our clients with income based on their business-related deposits showing on their bank statements compared to what they claim on their IRS tax returns at the end of the year.

Most self-employed individuals utilize tax write offs to minimize how much money they owe the Internal Revenue Service (IRS). This is a common process but will come to bite you in the butt when it is time to qualify for a mortgage loan.

Washington NON-QM Lenders For Owner-Occupant, Second Homes, Investment Properties

If you are a self-employed individual having a hard time qualifying for a mortgage, we strongly suggest you explore your bank statement mortgage options with Gustan Cho Associates. We have helped numerous clients qualify for their dream home when other lenders are unable to assist. Recent derogatory credit events. A qualified mortgage will have a hard stop if you have a recent derogatory credit event such as a foreclosure, short sale, or a bankruptcy. The only way around these strict waiting requirements is to utilize a non-qualified mortgage program.

Non-QM Mortgages One Day Out of Bankruptcy And Foreclosure

Gustan Cho Associates have access to programs that will allow you to purchase or refinance a property just one day out of a foreclosure and/or bankruptcy. For more information on mortgages after a derogatory credit event, please call Mike Gracz on (800) 900-8569 or send an email to mike@gustancho.com. These programs are becoming more popular as home values continue to rise.

Non-QM and Alternative Mortgages For Foreign Nationals

Foreign national NON-QM mortgage programs. A “foreign national” is defined as an individual who is a citizen of any other country besides the United States. These individuals may have a tough time getting a mortgage loan depending on their immigration status. These programs help non-permanent resident aliens or non-residents living outside the United States purchase (or refinance) a home.

You must prove you are living outside the United States in order to utilize one of these mortgage loans. Typically, we require a 30% down payment and can qualify you based on debt service coverage ratio (DSCR).

As long as the rental income produced from the property is higher than total mortgage payment, no further income documentation is required. In order to utilize these programs, you must have an eligible visa such as a B-1, B-2, H-2, H-3, I, J-1, J-2, 0-2, P1, or P2. Since there are some runoff guidelines on these programs, we suggest reaching out to our team today for more information.

Washington Non-QM Lenders Helping Immigrants Realize The American Dream of Homeownership Become A Reality

Why are these loans so popular in the state of Washington? The state of Washington has a large population of Asian and pacific islanders, who may benefit from some of the programs above. There is also a large percent of the population who is self-employed. Self-employed individuals can greatly benefit from NON-QM mortgage lending. The population of Washington is growing rapidly. The Seattle area has grown and home prices are soaring. This is creating a spike in the cost of rent as well. Besides the Seattle area, people love Tacoma and Spokane!

State’s Economy and Population Growth Makes Moving To Washington a Hot Spot

Why are so many individuals and families moving to the state of Washington? Many Americans migrated during the COVID-19 coronavirus pandemic. Washington seems to be one of the states growing at a rapid pace. There are numerous reasons behind this. First of all, Washington is one of nine states that does not have state income tax.

Taxation is also kind to franchises as well as corporations. Many large companies such as Starbucks and Amazon were started here in the state of Washington.

Washington is the home of three major sports teams. The Seattle Mariners, the Seattle Seahawks, and recently the addition of the Seattle Kraken. The NHL team now plays out of the Climate Pledge Arena which used to host the Seattle Supersonics. This building was renovated with unique architectural methods. Washington has a great culinary scene that ties into the culture. Seafood is plentiful. The music scene has also been strong for decades and brought some iconic rock bands such as Nirvana, Pearl Jam, and Modest Mouse.

History of Washington State

A few fun facts about Washington. There are 10 volcanoes including the legendary mount Saint Helens within the state of Washington. The tallest mountain is over 14,400 feet tall and is named Mount Rainier. This is the highest point throughout the state. There are many deep lakes throughout the state as estimates show there were over 3000 glaciers in the area during the most recent Ice Age.

Lake Chelan has an elevation of 1000 feet above sea level at the surface, but the bottom is 400 feet below sea level. Washington produces more apples than any other state in the Union.

Besides apples, they also produce more pears, red raspberries, spearmint, oil, and sweet cherries than any other state. The Olympic Peninsula is home to a rainforest. This is the only temperate rainforest in the continental United States. This area was traveled by the legendary Louis and Clark. Their explorations of this area started back in October 1805. This area was uncharted and is now home to over 2 million people. This is a great area for agriculture and produces premium wine in the region. If you are a beer drinker, you will be excited to know that 77% of the hops grown in the United States are grown in the Yakima Valley of Washington.

Best Washington Non-QM Lenders For Non-Prime Mortgages

If you plan to move to the state of Washington or have a property you’re looking to refinance, we encourage you to reach out to Gustan Cho Associates today. Gustan Cho Associates are mortgage brokers licensed in 48 states with over 210 wholesale mortgage lenders. Our team of experts will send you an online mortgage application link and get to work for you. Over 80% of our borrowers at Gustan Cho Associates are homebuyers denied for a mortgage from other lenders. We are experts qualifying and approving homebuyers with credit scores down to 500 FICO. The team at Gustan Cho Associates available seven days a week to help you with your mortgage needs. The application process is simple, and our award-winning operations team will help get your loan to the finish line in a timely fashion. For more information on mortgage lending in the state of Washington, please call us at (800) 900-8569.

FAQs: Washington NON-QM Lenders For No-Doc and DSCR Loans

1. What are Washington NON-QM Lenders? Washington NON-QM Lenders are mortgage lenders in Washington state that offer non-qualified mortgage (non-QM) loans. These loans are tailored for individuals who may need help meeting the rigid requirements of traditional loans, such as self-employed persons, real estate investors, or individuals with unstable income.

2. What types of non-QM loans are available in Washington? In Washington, non-QM loan options include No-Doc Loans, which don’t require income documentation and are ideal for self-employed individuals, and DSCR Loans, where approval is based on the property’s income rather than the borrower’s income.

3. Why are No-Doc mortgage loans popular in Washington? No-doc mortgage loans are popular in Washington because they cater to homebuyers with non-traditional incomes. No proof of income is needed, which makes them perfect for self-employed individuals or those with inconsistent income.

4. What is a DSCR mortgage loan? A DSCR mortgage loan is designed for real estate investors. Approval is based on the property’s income rather than the borrower’s income. The DSCR measures the property’s ability to cover debt obligations, ensuring that the rental income can cover the mortgage payment and housing expenses.

5. Who are the leading Washington NON-QM lenders? Some leading NON-QM lenders in Washington are Gustan Cho Associates, which offers flexible non-QM loans, including no-doc and DSCR loans. GCA Mortgage Group, Inc. provides products such as No-Doc, bank statements, and DSCR loans. Non-QM Mortgage Brokers and Preferred Mortgage Rates are known for tailored mortgage solutions and innovative loan products.

6. What are the benefits of using a non-QM loan in Washington? Non-QM loans offer a valuable option for individuals who might not meet the criteria for traditional mortgages. Their flexible qualification requirements offer choices for self-employed individuals and real estate investors. Moreover, these loans allow applicants to qualify using non-traditional income documentation and often feature quick closing times.

7. How can I secure a non-QM loan with Washington NON-QM lenders? When securing a non-QM loan with Washington NON-QM lenders, start by evaluating your needs and determining the type of non-QM loan that suits your situation. Compare lenders, gather necessary documents, submit a pre-approval application, consider using a mortgage broker, and complete the loan application and closing process.

8. Are non-QM loans suitable for real estate investors? Yes, non-QM loans, particularly DSCR loans, are suitable for real estate investors. These loans are based on the property’s income rather than the borrower’s, making them ideal for investment properties.

9. What is the current rate for a home loan with Washington NON-QM lenders? The interest rate for home loan from Washington NON-QM lenders may fluctuate due to various elements, such as the loan type, the borrower’sborrower’s credit score, and the property’sproperty’s appraised value. To get accurate rate quotes and terms, contacting specific lenders like Gustan Cho Associates and GCA Mortgage Group is recommended.

This blog about Washington NON-QM Lenders For No-Doc and DSCR Loans was updated on June 21st, 2024.

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