Conventional, FHA, bank statement, DSCR, ITIN, and other non-traditional rates — tracked from FRED public data and market spreads. Illustrative samples. Not quotes or offers of credit.
Live data · as of Jun 18, 2026
Conventional 30-yr (FRED MORTGAGE30US) · Bank statement (conventional + 0.84 pp spread) · FHA (conventional − 0.26 pp spread). Illustrative samples.
Non-QM products carry a rate premium over conforming loans — the spread reflects additional lender risk, not a penalty. The right loan type is the one you qualify for.
| Loan type | Sample rate | Audience |
|---|---|---|
| Conventional 30-year | 6.47% | — |
| Conventional 15-year | 5.81% | — |
| FHA | 6.25% | — |
| VA | 6.05% | — |
| USDA | 6.16% | — |
| Jumbo | 6.50% | — |
| Bank statement | 7.31% | Self-employed |
| Asset depletion | 7.16% | Self-employed |
| P&L only | 7.36% | Self-employed |
| DSCR (investor) | 7.66% | Investor |
| ITIN | 7.96% | Newcomer |
Illustrative sample rates only — not quotes, pre-approvals, or offers of credit. Actual rates depend on credit score, LTV, property type, loan size, and lender. Consult a licensed mortgage professional before making borrowing decisions.
Non-QM lenders — those offering bank statement loans, P&L-only loans, DSCR, and ITIN mortgages — price in additional risk because Fannie Mae and Freddie Mac won’t buy these loans on the secondary market. The lender holds the loan or sells it to a private investor, so the rate reflects that retained risk.
The spread typically runs 0.5–2 percentage points over conforming rates. A self-employed borrower who can document income conventionally (two years of tax returns showing stable income) will usually qualify for a conforming rate — the loan type quiz can help you figure out which category you fall into.
For many non-traditional borrowers the choice isn’t “non-QM at a higher rate vs. conforming at a lower rate” — it’s “non-QM or no loan.” The extra cost buys access to homeownership that wouldn’t otherwise exist.