Last updated: September 7, 2026
This index publishes weekly-updated illustrative rate and APR ranges for Non-QM loan programs, drawn from wholesale pricing sheets received from our active lending partners. Ranges are for reference only. See the disclosures at the bottom of this page before using any figure here.
Illustrative Rate and APR Ranges Observed This Week
Programs with no observation in a given week are omitted from this table.
| Program | Illustrative Rate Range | Illustrative APR Range |
|---|---|---|
| Bank statement (12/24 month) | 6.375%–6.625% | 6.750%–7.250% |
| DSCR (investor, DSCR ≥1.00) | 6.250%–6.375% | 6.625%–7.000% |
| Alt-doc — P&L / WVOE / 1099 | 6.375%–6.750% | 6.750%–7.375% |
| ITIN (select programs) | 7.625%–7.875% | 8.000%–8.500% |
| Closed-end second (30yr fixed) | 7.500%–7.750% | 7.875%–8.375% |
Observation basis: 70–75% LTV, 740–760 FICO, purchase transaction, 30-year fixed. APR ranges are illustrative, derived by adding 0.375% to the low end and 0.625% to the high end of each Non-QM note rate — 0.125% and 0.250% respectively for conforming products — reflecting customary origination points and lender fees. Actual APR depends on the specific fees, points, and loan amount of an individual transaction and will differ. DSCR observations this week span two prepayment structures: the 6.250% low end carries a 5-year prepayment penalty at a 1.00 DSCR, and the 6.375% high end carries a 3-year prepayment penalty at a 1.25 DSCR. Prepayment structure is a material pricing variable confirmed at application. The closed-end second was observed to $750,000 at up to 75% CLTV, owner-occupied full doc, on the one sheet that priced it; the second sheet listed closed-end seconds to 90% CLTV full-doc only but published no rate for them.
Conventional Reference Context
Conforming/conventional rates from the same wholesale observation window — included as a market anchor, not Non-QM products.
| Program | Illustrative Rate Range | Illustrative APR Range |
|---|---|---|
| Conventional 30yr fixed (conforming) | 6.250%–6.375% | 6.375%–6.625% |
Methodology
Rate ranges published here are aggregated from wholesale rate sheets received from multiple lending partners — n=2 this week, observed September 4, 2026 and September 1, 2026. Source lender names are not disclosed; one or more partners distribute pricing on a wholesale-only basis not intended for public attribution.
The two sheets quote on different bases, and the merged ranges reflect that. One prices at 70% LTV, 760 FICO, purchase, 30-year fixed, with the DSCR sample taken at a $1,000,000 loan amount, 1.00 DSCR, and a 5-year prepayment penalty; its bank statement and alt-doc samples run to a $1,500,000 loan amount. The other prices at 75% LTV, 740 FICO, purchase, 30-year fixed, single-family one-unit, Los Angeles County, $700,000 purchase price, 30-day lock, impounded, 45% DTI, borrower-paid par pricing, with its DSCR sample taken at a 1.25 DSCR and a 3-year prepayment penalty. Ranges represent the spread between the most favorable and least favorable qualifying scenario observed across the sample for each product.
FHA and VA loans are excluded from this index entirely. Mortgage insurance premiums, upfront MIP, and VA funding fees make a fixed rate-to-APR spread inaccurate for those products, and an illustrative APR derived that way would mislead rather than inform.
Programs with no observation in a given week are omitted rather than shown empty. This week neither sheet priced a discrete jumbo Non-QM product line or a conforming 15-year fixed, so both rows are omitted. Non-QM loan amounts to $3,500,000 were quoted within the bank statement, alt-doc, and DSCR programs, but no separate jumbo Non-QM pricing was published, and a loan-amount ceiling is not a priced product.
Rates are not averaged, interpolated, or modeled. They are direct observations from wholesale partner pricing grids on the observation dates. No single borrower or transaction will match the full range shown — actual pricing for any specific loan depends on the complete scenario: credit profile, property type, loan amount, term, prepayment structure, LTV, documentation type, and lender overlays in effect at the time of lock.
Program availability and rate ranges fluctuate with secondary market conditions. We update this index weekly from current pricing sheets. If the “Last updated” date is more than 14 days old, treat these ranges as stale and contact us directly for current market pricing.
Important Disclosures
Rates, APRs, and program terms shown on this page are subject to change without notice. The figures published here are illustrative observations of wholesale pricing on the stated observation dates — they are not quotes, not offers, and not a commitment to lend. No rate or APR shown is available to any specific borrower on any specific transaction, and none is guaranteed.
APR figures are illustrative estimates derived from observed note rates using a typical cost-of-credit assumption, not calculations from an actual fee schedule. A borrower’s actual rate and APR depend on loan product, loan amount, credit profile, property type and value, occupancy, geographic location, documentation type, prepayment structure, lock period, points and fees, and lender overlays in effect at the time of lock. Interest rates may increase after consummation on adjustable-rate products.
No rate is locked until an application is submitted and a lock confirmation is issued.
Loan program availability varies by state. Bank statement loans, DSCR loans, and other Non-QM products are not subject to the same underwriting standards as conventional Fannie Mae / Freddie Mac loans. Contact us to confirm availability in your state.
Figures on this page are illustrative observations, not offers or commitments to lend. Rates are subject to borrower qualification, credit score, LTV, loan amount, occupancy, property type, lock period, market movement, and investor guidelines. 1st Nationwide Mortgage Corporation, NMLS #1281. Texas: 1st NWM Corporation, NMLS #1437886 / SML #1437886. Equal Housing Lender.
Explore Non-QM Loan Programs
- DSCR Loans — Rental Property Financing — qualification, state availability, and program details for debt service coverage ratio loans.
- Bank Statement Loans — Self-Employed Mortgage — 12- and 24-month bank statement income documentation for self-employed borrowers.
- Commercial Loans — Commercial Real Estate Financing — multi-family, retail, industrial, mixed-use, and office property loans in 50 states.
- Bridge Loans — Short-Term Real Estate Financing — 6–24 month bridge for acquisitions, fix-and-flip, and value-add projects.
- DSCR Loan Calculator — calculate your debt service coverage ratio and see where your property stands.
- Bank Statement Loan Calculator — estimate your qualifying income using bank deposit history.
For current rate quotes on your specific scenario, contact us at ca@1stnwm.com or (833) 350-9185 .
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