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The Bank Said No.
Let's Find Your Yes.
You have strong finances... your tax return just doesn't show it the way a bank wants to see it. Non-QM loans are built for exactly that. I'm Dan, and I help self-employed borrowers, real estate investors, and non-traditional earners in the Seattle metro area get into homes on their actual financial terms.
~16M
Self-employed workers in the U.S. shut out by traditional loan guidelines
$1.037M
2025 high-balance conforming limit for King & Snohomish Counties
12–24
Months of bank statements: that's all you may need to qualify
No W-2?
No problem. Non-QM uses your real financial picture, not just your tax return
What Is a Non-QM Loan, and Why Does It Exist?
A Non-QM (Non-Qualified Mortgage) is a home loan that operates outside the strict guidelines set by the Consumer Financial Protection Bureau (CFPB) for "Qualified Mortgages." Traditional lenders (banks, credit unions, most online lenders) use those rules to determine who gets approved. Those rules were designed for W-2 employees with predictable, easy-to-document income.
The problem? That description doesn't fit a large chunk of the people who are actually in the best financial position to buy a home in King County or Snohomish County today. Business owners who write off legitimate expenses. Investors whose income comes from rental properties. Independent contractors. Tech workers with RSUs and side income. Retirees with substantial assets but modest monthly "income." These borrowers get penalized by a system that wasn't built for them.
The core idea is simple: Non-QM lenders look at your actual financial picture (your cash flow, your assets, your rental income, your 1099s) rather than forcing your finances through a one-size-fits-all template. You still have to demonstrate the ability to repay; the difference is how that ability gets documented.
Non-QM loans are not predatory subprime loans. They are legitimate, well-underwritten mortgage products offered by institutional lenders that allow alternative forms of income documentation, higher debt-to-income ratios, or different property situations. For borrowers in the Seattle metro area, where home values regularly push past conventional loan limits and the workforce is disproportionately self-employed or in the gig economy, Non-QM options can be the difference between buying and waiting indefinitely.
Who Non-QM Loans Are Built For
If any of these situations sound familiar, you're exactly who Non-QM lending was designed to help. Dan works with borrowers across these profiles every week throughout the Puget Sound region.
Self-Employed Business Owners
Your tax return shows $60K in income after deductions, but your business deposits $200K+ per year. Bank statement loans let the real number tell your story.
USDAIndependent Contractors & 1099 Earners-RD
Freelancers, consultants, tech contractors, and gig workers who receive 1099s instead of W-2s often hit a wall with traditional lenders. There's a loan designed specifically for you.
Real Estate Investors
Growing a rental portfolio? DSCR loans qualify you based on the property's cash flow, not your personal income or tax returns. Scale your portfolio faster.
High-Net-Worth Individuals & Retirees
Substantial assets in brokerage, retirement, or savings accounts can be used as qualifying "income" through asset depletion programs, even if you no longer have a paycheck.
Borrowers with a Credit Event
Recent bankruptcy, foreclosure, or short sale? You may not have to wait as long as a conventional loan requires. Some Non-QM programs accept credit events with as little as 1–2 years of seasoning.
Non-QM Loan Programs Dan Offers
Non-QM isn't a single product. It's a category of flexible mortgage solutions. The right one depends on your income source, your goals, and your financial profile. Here's a breakdown of each:
Bank Statement Loans
Instead of tax returns, you qualify using 12 or 24 months of personal or business bank statements. The lender averages your monthly deposits to calculate income, reflecting your actual cash flow, not your taxable income after deductions. This is the go-to solution for self-employed borrowers in Washington who have written off legitimate business expenses that have artificially reduced their reported income.
Best For
Business owners, self-employed, sole proprietors
Credit
Typically 620+ (better rates at 680+)
Documentation
12-24 months of bank statements
Down Payment
Often 10-20%
DSCR Loans (Debt Service Coverage Ratio)
DSCR loans qualify based on the property's income, not yours. The lender divides the expected monthly rental income by the total monthly mortgage payment (principal, interest, taxes, insurance). A ratio of 1.0 or higher generally means the property pays for itself, and you qualify. No personal income documentation required. No tax returns. This is how serious investors in King County and Snohomish County scale their portfolios without their day-job income becoming a bottleneck.
Best For
Rental property investors, short-term rental (Airbnb) owners
Property Types
SFR, condos, 2-4 units, some STR
Qualification
DSCR ≥ 1.0 (rent ÷ monthly mortgage)
Down Payment
Typically 20-25%
1099 Income Loans
Designed for independent contractors, consultants, gig workers, and anyone who receives IRS Form 1099 instead of a W-2. Lenders use 1 to 2 years of 1099 forms (and sometimes recent bank statements) to calculate qualifying income. Underwriting focuses on gross earnings rather than adjusted gross income, which is a significant advantage for contractors with legitimate business expenses.
Best For
Freelancers, IT contractors, real estate agents, gig economy workers
Self-Employment History
Typically 2 years preferred
Documentation
1-2 years of 1099s
Down Payment
10-20% typical
Asset Depletion / Asset Qualifier Loans
If you have substantial liquid assets (retirement accounts, investment portfolios, savings) lenders can convert those into a calculated monthly "income" for qualification purposes, even if you are no longer employed or your income is minimal. For example, a retiree in Bellevue or Edmonds with $1.5M in assets might qualify for a meaningful loan amount without a paycheck. You keep your assets; the math just works in your favor.
Best For
Retirees, high-net-worth individuals, investors with large portfolios
Employment Required
Not always
Assets Eligible
Checking, savings, brokerage, retirement accounts
Credit
Typically 680+
Profit & Loss (P&L) Statement Loans
A CPA-prepared profit and loss statement covering 12 to 24 months serves as your primary income documentation, often backed by bank statements. This is particularly useful for business owners with complex financials where bank deposits alone may not tell a complete story. Dan works with your CPA to ensure documentation meets lender requirements.
Best For
Business owners with CPA-prepared financials
Bank Statements
May be required as backup
Documentation
12-24 month P&L from licensed CPA
Down Payment
10-20% typical
Credit Event / Recent Recovery Loans
Traditional loans require 2-7 years of waiting after a bankruptcy, foreclosure, or short sale. Some Non-QM programs can accept credit events with as little as 1-2 years of seasoning, provided your finances have stabilized and you can demonstrate the ability to repay. Life happens... Non-QM lenders understand that a past credit event doesn't define your current financial strength.
Best For
Borrowers who've had a bankruptcy, foreclosure, or short sale
Rate Impact
Higher rates vs. conventional; improves over time
Seasoning
As little as 12-24 months (varies by program)
Down Payment
Typically 20%+
The Roadblocks and How We Remove Them
These are the most common reasons people in Snohomish and King County get turned away by banks. They're not dead ends, they're exactly what Non-QM lending was built to solve.
"My tax return makes me look broke."
Legitimate write-offs dropped your reported income. The bank sees $65K; your actual cash flow is triple that.
"I've only been self-employed for 18 months."
Conventional loans typically require 2 full years of self-employment history. Some Non-QM programs are more flexible.
"My DTI is too high because of my investment properties."
Multiple rental properties can inflate your personal debt-to-income ratio even when the rentals are cash-flow positive.
"I'm retired. I don't have a paycheck anymore."
Traditional income verification doesn't account for $2M in investments. Asset depletion programs do.
"I had a short sale five years ago."
A conventional lender might still say no. Some Non-QM programs can work with credit events after just 1–2 years of clean history.
"I want to buy rental property without it affecting my primary home's DTI."
DSCR loans are evaluated entirely on the investment property's cash flow. Your personal income stays out of the equation.
How Dan Solves These
"My tax return makes me look broke."
Legitimate write-offs dropped your reported income. The bank sees $65K; your actual cash flow is triple that.
"I've only been self-employed for 18 months."
Conventional loans typically require 2 full years of self-employment history. Some Non-QM programs are more flexible.
"My DTI is too high because of my investment properties."
Multiple rental properties can inflate your personal debt-to-income ratio even when the rentals are cash-flow positive.
Built for the Seattle Metro Real Estate Market
King County and Snohomish County present a unique mortgage challenge: home prices are among the highest in the nation, the workforce skews heavily toward tech, entrepreneurship, and contract work, and high-value properties frequently bump against or exceed conventional loan limits. Non-QM lending is not a niche product here. It's a core part of how qualified buyers actually get into homes.
King County
The high-balance conforming limit for King County in 2025 is $1,037,300. Properties above that require jumbo financing, and many Non-QM lenders offer flexible jumbo programs for borrowers with complex income documentation.
Bellevue
Redmond & Kirkland
Renton & Kent
Issaquah & Sammamish
Shoreline
Mercer Island
Snohomish County
Snohomish County is one of the fastest-growing counties in Washington. With home prices rising and a significant self-employed and contractor workforce, Non-QM lending is increasingly common from Edmonds to Marysville.
Lynnwood & Mukilteo
Marysville & Arlington
Edmonds & Mill Creek
Bothell & Woodinville
Monroe & Lake Stevens
Getting a Non-QM Loan with Dan: The Process
The Non-QM process is more hands-on than a conventional loan. That's exactly why working with an experienced specialist matters. Here's what to expect:
01
Free Initial Strategy Call
Your first step is a no-pressure conversation with Dan. He'll listen to your situation, ask the right questions, and give you an honest read on where you stand and which Non-QM programs make sense for you. No jargon, no runaround. Just fill out the form to get started!
02
Start Your Pre-Approval Application
Dan will send you a link to his simple online pre-approval form. From there, you'll securely upload your documents through our client portal. Not sure what to upload or how? No problem. The team will walk you through every step so nothing gets missed.
03
Application Review (24-hours or less)
Once your documents are in, Dan and his team get to work reviewing your application, income documentation, and overall financial profile. This is where the right program gets confirmed and your file gets prepared for the next stage.
04
Mortgage Planning Meeting
This is where everything comes together. Dan will sit down with you (in person or virtually) and walk through your full picture, including your goals and budget, your pre-approval and all available loan options, current rate strategies and market conditions, a game plan for winning your offer, your expected timeline, and any questions you have. You'll leave this meeting knowing exactly where you stand and what comes next.
05
Full Underwriting Before You Shop
Here's what sets Dan's process apart. Rather than getting a basic pre-approval letter and hoping for the best, Dan's team gets you fully underwritten before you ever write an offer. That means a lender has already reviewed your complete file and signed off. When you find the home you love, your offer looks bulletproof and sellers know you are the real deal.
06
Find Your Home and Close
With full underwriting behind you, you shop with total confidence. When you find the right home, Dan's team moves fast to keep your transaction on track and get you to the closing table.
Why Work with Dan Keller?
Dan is a mortgage loan officer with New American Funding, the nation's leading independent mortgage lender, specializing in non-traditional financing for homebuyers and real estate investors throughout King County and Snohomish County.
Unlike working with a big bank that offers a limited menu of loan products, New American Funding gives Dan access to a wide range of Non-QM programs so he can find the right fit for your specific situation rather than forcing your file into a one-size-fits-all box.
Dan's clients are business owners, tech contractors, landlords, and people who've been told "no" by someone who didn't take the time to understand their situation. He takes the time. If there's a path to approval, he'll find it.
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