A non-QM (non-qualified mortgage) home loan program is a type of mortgage that does not meet the standard guidelines set by the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages (QM). These guidelines were established to ensure that borrowers have the ability to repay their loans, with features like limits on debt-to-income ratios, restrictions on certain loan features, and requirements for verification of income and assets.

Non-QM loans are designed for borrowers who may not fit the traditional lending criteria but still have the financial capacity to repay a mortgage. This includes self-employed individuals with complex income structures, borrowers with recent credit issues (such as a bankruptcy or foreclosure), investors, and those needing more flexible income documentation methods. Non-QM loans often feature alternative income verification methods, such as bank statement loans or asset depletion loans, where lenders assess the borrower's ability to repay based on their bank deposits or liquid assets instead of traditional W-2 forms and tax returns.