Non-QM Market Growing in 2024

As of May of 2024, roughly one in four (23%) Americans rated the U.S. economic conditions as ‘excellent’ or ‘good’. Over one in three (36%) described the ongoing situation as ‘poor’.

Despite all the political fluff, it’s obvious to most Americans that the economy isn’t doing great.

While this may be a sign of bad news for some, it’s a great opportunity for others – like companies that offer alternative solutions like non-QM home loans. Originally, non-QM loans were developed as a way to provide crucial funding to hopeful homebuyers who were experiencing non-traditional financial situations, unique circumstances, or couldn’t otherwise squeeze into the traditional prerequisites mandated by most lenders. Now, it’s become a great source of much-needed funding for a huge percentage of Americans.

In large part, non-QM home lenders are growing exponentially right now because Americans have been in need of non-traditional funding after the past few years. More Americans are self-employed, have higher debt levels, don’t have steady sources of income, don’t have a solid credit score, or have other situations preventing them from taking out a traditional loan. 2021 was the industry’s peak with the ongoing turmoil from the pandemic, lockdowns, and general anxiety looming over the country, but the industry has been steadily growing since.

2024 has proved these facts more than any other year so far. Forecasts of how well the industry would do this year have already been far surpassed. Many QM issuers have already needed to revise their estimates upward, and we still have an additional quarter left to go in the year.

Are You Looking for Non-Traditional Home Loan Funding?

Have you felt the sting of the economic conditions over the past few years? It’s nearly impossible to avoid the rising gas prices, inflated grocery store costs, and constantly increasing costs of everything, yet succumbing to these factors could cost you the ability to work with a traditional lender.

The good news is that you still have options! You can work with a non-traditional home loan provider to secure the money you need to realize your homeownership goals.

Here at Non-QM Home Loans, we offer unique mortgages made easy based on your non-conventional situation. Vlad Cohen, originally created this business after being inspired for years by his former employer. While working for a different mortgage company, Cohen witnessed how the agents were trained to treat every customer like people rather than a number or calculated risk to the business. This approach inspired Cohen to go on to create Non-QM Home Loans as a viable solution for lenders in need of alternative solutions.

Navigate here to be directed to our click-through menu. Here, you’ll be able to go through all our various non-QM home loan requirements, check out the different options we have, and customize your specific potential loan based on your personal circumstances.

If you’d prefer to speak directly to one of our agents, then you can call us now at (800) 413-0240. We’re ready to help you get the customized mortgage you deserve!