Non-QM Rate Index — Illustrative Rate Ranges | Bank Statement & DSCR Loans

Last updated: October 27, 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.

Observation basis differs between the two sheets, and the merged ranges reflect that. One prices at 70% LTV, 760 FICO, purchase, 30-year fixed, publishing no geography on its sample. The other prices a Los Angeles County single-family one-unit purchase at $700,000 — 75% LTV, 740 FICO, 30-year fixed, 30-day lock, impounded, 45% DTI, borrower-paid par pricing. 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. The DSCR spread this week does not run the direction most people would guess. The 7.250% low end comes off a 3-year prepayment penalty at a 1.25 DSCR, priced at a 0.125 point credit. The 7.375%–7.500% high end comes off a 5-year prepayment penalty at a 1.00 DSCR on a $1,000,000 loan amount, priced at 2.476 to 3.464 points. Different qualifying bases and very different point cost account for that gap, not the penalty term on its own. Prepayment structure is still a material pricing variable and gets confirmed at application. The ITIN figure is a single observation from one sheet, quoted at 660 FICO to 75% LTV or 680 FICO to 80% LTV, both to a $1,000,000 loan amount; the rate is one number rather than a range, and the APR span shown against it is the illustrative fee spread, not a rate range. The closed-end second was observed to $750,000 at up to 75% CLTV, sampled at 70% CLTV and 760 FICO owner-occupied full doc, on the one sheet that priced it. The second sheet listed closed-end seconds to $750,000 and up to 90% CLTV on full-doc programs, 680 minimum FICO and 50% maximum DTI, 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.

High balance is a separate product tier and only one sheet priced it this week, so its rate is a single figure rather than a range; the APR span against it is the illustrative conforming fee spread applied to that one observation. Conforming moved down this week while every Non-QM program moved up — the two sides of the market are not tracking together right now.

Methodology

Rate ranges published here are aggregated from wholesale rate sheets received from multiple lending partners — n=2 this week, observed October 26, 2026 and October 20, 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, publishing no market for its sample. Its DSCR sample is taken at a $1,000,000 loan amount, a 1.00 DSCR, and a 5-year prepayment penalty; its bank statement and alt-doc samples run to a $1,500,000 loan amount. That sheet quotes loan amounts to $3,500,000, with bank statement to 90% LTV and DSCR and alt-doc to 80% LTV. 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.

This index covers one-to-four-unit residential financing only. Commercial and multifamily of five or more units are not published here. Those products price off the specific file — the rent roll, the leases, the sponsor’s experience and liquidity, the term and fixed period, recourse, and the prepayment structure — and a range observed from wholesale residential pricing grids would not describe them. Five-plus unit and commercial financing is quoted directly on a reviewed file rather than advertised as a range. Neither sheet published a five-plus unit rate this week. Bridge loans are not published here either. Bridge is short-term, interest-only financing priced deal by deal, while the products in this index are long-term loans priced off a rate sheet, so a published range would not describe what a borrower would actually be offered. Bridge is quoted directly on a reviewed file.

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. One sheet published both an FHA 30-year and an FHA high-balance 30-year rate on its observation date. Both are omitted here for that reason.

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, and to $4,000,000 within one bank statement program, but no separate jumbo Non-QM pricing was published, and a loan-amount ceiling is not a priced product.

The ITIN row returns this week after being omitted last week for want of an observation. One sheet priced it; the other did not. A single observation gets published as a single rate, not dressed up as a range — and only the APR span against it reflects the illustrative fee assumption. The same treatment applies to the conforming high-balance row.

One sheet carried a proprietary program for medical professionals, to 100% LTV and a $2,000,000 loan amount at a 680 minimum FICO. The rate is omitted here. It is a single lender’s branded program rather than a recognized product category, and publishing it with a rate would effectively attribute pricing to a partner that distributes on a wholesale-only basis.

A HELOC was priced on one sheet this week, to $750,000 and up to 85% CLTV full doc, sampled at 70% CLTV and 760 FICO owner-occupied with a 3-year draw period. It is excluded from the table. A HELOC is open-end credit, and its APR under Regulation Z 1026.40 is the periodic rate annualized without points and fees — the closed-end illustrative spread applied everywhere else on this page would misstate it. A closed-end second is a different product and is not published as a substitute for it.

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.

Common questions

What are non-QM rates today?

This index publishes illustrative weekly rate ranges for non-QM programs drawn from wholesale pricing sheets. The current table shows observed ranges for bank statement, DSCR, and alt-doc programs. These are illustrative observations from the most recent pricing sheets — not quotes, not offers, and not a commitment to lend. Actual rates depend on the complete loan scenario.

What are DSCR loan rates today?

The current illustrative DSCR rate range is shown in the table on this page, observed from wholesale pricing sheets on the dates listed. The observation basis is 70–75% LTV, 740–760 FICO, purchase, 30-year fixed. These are illustrative observations, not a commitment to lend — actual pricing depends on credit profile, LTV, property type, prepayment structure, and lender overlays at lock.

Are DSCR loan rates higher than conventional mortgage rates?

Generally yes. This page includes a conventional reference row from the same wholesale observation window for direct comparison. DSCR loans carry a premium over conventional financing, reflecting the alternative documentation used and the business-purpose nature of the product. The rate table above shows both programs from the same observation dates.

What are bank statement loan rates?

The current illustrative bank statement loan rate range is shown in the table on this page, based on wholesale pricing observations. These are illustrative ranges from the most recent pricing sheets — not quotes, not offers, and not a commitment to lend. Actual rates depend on the specific loan scenario and lender overlays at lock.

What is a non-QM mortgage?

A non-QM mortgage is a loan not subject to the same underwriting standards as conventional Fannie Mae or Freddie Mac loans. Non-QM programs — including bank statement loans, DSCR loans, and alt-doc products — are listed in the rate table on this page. Loan program availability varies by state; contact us to confirm availability for your scenario.

For current rate quotes on your specific scenario, contact us at ca@1stnwm.com or (833) 350-9185 .