Non-Conventional Loans in Wisconsin
Great borrowers come in many shapes — and not all of them fit a W-2. If you're self-employed, a real estate investor, a retiree, or have a complex financial profile, Rob Miller has access to non-conventional loan programs built for exactly your situation.
What Are Non-Conventional Loans?
Non-conventional mortgages — also called non-QM (non-Qualified Mortgage) loans — are home financing products designed for borrowers whose income, assets, or credit history fall outside the parameters of standard Fannie Mae, Freddie Mac, FHA, VA, or USDA guidelines.
These programs exist because millions of financially capable Americans don't fit the standard mold: the self-employed business owner whose tax returns understate actual income, the real estate investor who wants financing based on property cash flow, the retiree living off a large investment portfolio, or the foreign national buying a U.S. vacation property. Non-conventional loans give these borrowers a path to financing that actually reflects their real financial strength.
At MadCity Home Loans, Rob Miller has access to multiple non-QM investors and programs, allowing him to structure creative solutions for Wisconsin borrowers who've been turned away elsewhere.
Non-Conventional Loan Programs
Bank Statement Loans
12–24 months of bank deposits used as income. Ideal for self-employed borrowers whose tax returns don't reflect actual cash flow.
DSCR Loans
Qualify on the rental property's cash flow — not your personal income. No tax returns needed for real estate investors.
Asset Depletion
Liquid assets (savings, retirement, investments) are converted into qualifying "income." Ideal for retirees or high-net-worth buyers.
Foreign National Loans
U.S. property financing for non-U.S. citizens using foreign income and asset documentation.
Recent Credit Event
Programs available for borrowers as soon as 1 day out of bankruptcy, foreclosure, or short sale — with appropriate LTV requirements.
P&L Statement Loans
A 12–24 month CPA-prepared Profit & Loss statement used in place of tax returns for self-employed qualification.
Who Non-Conventional Loans Are Built For
- Self-employed borrowers with 2+ years in business whose tax write-offs reduce reportable income
- Real estate investors building a rental portfolio who prefer income-based (DSCR) qualification
- Retirees with substantial assets but limited monthly W-2 or 1099 income
- Borrowers with a recent bankruptcy, foreclosure, or short sale who don't want to wait 4–7 years
- Foreign nationals purchasing primary residences, vacation homes, or investment properties
- Borrowers with complex income sources: K-1s, seasonal employment, multiple businesses
General Requirements
Non-conventional loan parameters vary by program, but general guidelines include:
- Credit scores typically 620–680 minimum depending on program and LTV
- Down payments of 10%–30% depending on loan type and risk profile
- Cash reserves of 3–12 months PITI (principal, interest, taxes, insurance)
- Alternative income documentation (bank statements, P&L, asset statements, lease agreements)
- Higher rates than conventional — typically 0.5%–2.0% above conforming rates
Not sure if you qualify conventionally? Rob Miller will evaluate your full financial picture and identify every program available to you — conventional and non-conventional — so you get the best possible terms.
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