---
title: What is a non-QM loan?
description: A non-qualified mortgage is a loan not required to meet agency-standard requirements. They have unattractive rates and terms but can help a buyer purchase.
---

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# What is a non-QM loan?

## A home loan not required to meet agency-standard documentation requirements as outlined by the CFPB.

A non-qualified mortgage (non-QM) is a home loan that is not required to meet agency-standard documentation requirements as outlined by the Consumer Financial Protection Bureau (CFPB).

These **riskier loan products** have **higher rates** and **less desirable loan terms**, but allow for non-traditional buyers to buy a home, whereas they may not qualify with traditional financing. **Borrowers typically obtain Non-QM loans in the short term and refinance into a conventional loan once their creditworthiness improves.**

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