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Non-QM Loans in Pennsylvania

What Pennsylvania borrowers should know, with county data and local pages.

If a bank has told you no, a non-QM mortgage may still be an option in Pennsylvania. Non-QM covers a range of programs that document income through bank statements, a profit-and-loss statement or assets, plus others for ITIN borrowers, foreign nationals and buyers with a past credit event. Pricing and down payment expectations differ from agency loans. Pick a city below to see how to compare programs and lenders near you.

Questions about Non-QM loans in Pennsylvania?

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Mortgage lenders, brokers and loan originators serving Pennsylvania are licensed by the Pennsylvania Department of Banking and Securities. Non-QM loans are made by the same licensed lenders and brokers, so you can confirm any company's or loan officer's license on NMLS Consumer Access before you apply.

Where the numbers point in Pennsylvania

Counties with the most first liens with interest-only, balloon or other non-amortizing features (2024):

CountyFirst liens with interest-only, balloon or other non-amortizing features (2024)
York County145
Allegheny County122
Butler County104
Philadelphia County95
Luzerne County90
Lancaster County81
Cumberland County76
Chester County75
Adams County74
Washington County73
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Non-QM Loans by city in Pennsylvania

Common questions

Can I still get a no-doc or stated income mortgage?

True stated-income lending, where a lender took your word for your income, largely ended after the 2008 crisis when ability-to-repay rules took effect. Searches for no-doc or stated income loans today usually lead to alternative-documentation programs that verify income through bank statements, a profit-and-loss statement, assets or a rental property's cash flow. You still document your finances, just not always with tax returns.

Why do non-QM loans usually cost more?

The investors that buy non-QM loans take on more risk than they would with an agency loan, and the market for these loans is smaller. That risk is usually reflected in pricing, so non-QM loans often price higher than conventional or government loans. Lenders may also expect a larger down payment or more reserves. How much more depends on your credit, the property and the program you choose.

What is a non-QM loan?

A non-QM loan is a mortgage that does not meet the Qualified Mortgage definition under the CFPB's Ability-to-Repay rule. It may use alternative income documentation, include a feature such as an initial interest-only period, or finance a borrower or property that agency guidelines will not. The lender must still make a reasonable, good-faith determination that you can repay. Programs vary by borrower, property and investor.

Other non-QM options in Pennsylvania

Bank statement loansSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only

Related guides

Non-QM Loans overview · Pennsylvania non-QM overview

  • 2024 HMDA data
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