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Anchor Loans is the nation’s leading private lender for real estate investors, builders, and institutions. Since 1998, we’ve funded projects nationwide — from fix-and-flip financing and ground-up construction loans to build-to-rent strategies, DSCR rental loans, and institutional capital solutions like land banking and large-scale developments.
On this channel you’ll:
✅ Learn how to scale your real estate business
✅ Understand financing options across retail and institutional lending
✅ See success stories from investors and developers nationwide
✅ Get market insights and strategies from lending experts
Welcome back to the Anchor Loans Real Estate Insights Podcast — where we talk strategy, market trends, and the tools you need to grow your investment business smarter and faster.
The U.S. mortgage industry is entering a pivotal moment, and the market is shifting toward flexibility.
Agency loan volumes have slowed due to tighter qualification standards, shifting borrower profiles, and elevated consumer debt. Yet amid the slowdown, one segment is accelerating. Non-qualified mortgage lending, or non-QM, has become one of the most resilient and dynamic areas of the market.
A recent Mortgage Professional America episode highlighted how non-QM has evolved from niche to necessity. According to industry experts, originations are expected to exceed $150 billion, driven by borrowers who no longer fit the traditional agency mold.
At Anchor Loans, we view this shift as part of a broader transformation. Borrowers and investors want financing that matches the realities of today’s economy: flexible, efficient, and relationship-based. That’s why our sister company, Deephaven Mortgage, is emerging as a national leader in non-QM lending, helping brokers and borrowers access capital through smarter, more adaptive programs.
So what does non-QM really mean?
Non-QM lending serves creditworthy borrowers who fall outside conventional underwriting standards, yet demonstrate the ability to repay responsibly. These include self-employed professionals with variable income, real estate investors qualifying based on property cash flow, and homeowners seeking to access equity without refinancing their low-rate first mortgage.
As the MPA Talk guests explained, the growth of self-employment and the gig economy has reshaped the borrower landscape. Many financially sound individuals now have multiple income sources or business ownership structures that do not align neatly with W-2 requirements. Non-QM programs bridge that gap, offering responsible access to credit while maintaining rigorous underwriting.
According to Scotsman Guide, non-QM currently represents around 5% of all originations but is expected to grow significantly in the next two years. The takeaway is clear: non-QM lending is no longer an alternative. It’s essential.
There are several key drivers behind that growth.
First, as conventional and government-backed lending cools, loan officers and brokers are diversifying into non-QM to maintain volume. As the MPA Talk discussion made it clear, originators who have yet to embrace non-QM are “behind the times.”
Second, borrower diversity is expanding. Today’s economy is entrepreneurial. From gig workers and 1099 contractors to small business owners, borrowers are redefining how income is earned and documented. Non-QM programs recognize that success doesn’t always fit on a pay stub.
Third, homeowners are sitting on record equity while managing record consumer debt. Many prefer second-lien or HELOC solutions that unlock capital without disturbing their low-rate first mortgages. These options are among the fastest-growing segments of non-QM lending.
And fourth, investor demand for flexibility continues to rise.
Debt Service Coverage Ratio loans, also known as DSCR loans, qualify borrowers based on property rental income rather than personal income. They give investors the freedom to scale portfolios efficiently without traditional barriers.
Industry data supports this trajectory. National Mortgage Professional reported that non-conforming loans reached nearly 17% of total originations in mid-2025. Meanwhile, Baker Tilly found that investor appetite for non-QM assets is deepening secondary-market liquidity, helping stabilize growth even amid rate volatility.
Now, this is where Deephaven Mortgage plays a key role.
Deephaven Mortgage was founded to serve borrowers who fall just outside agency guidelines but deserve fair access to mortgage credit. Built on experience, innovation, and transparency, Deephaven has become a trusted partner for brokers and lenders nationwide.
For borrowers who narrowly miss agency approval, Deephaven’s Expanded-Prime program offers up to 90% loan-to-value, loan amounts up to $3.5 million, and credit scores as low as 660. Flexible documentation options, including full doc, one-year profit and loss, or bank statements, make qualification accessible for high-quality borrowers with unique financials.
For real estate investors, Deephaven’s DSCR loans qualify based on property cash flow rather than personal income. With loan amounts up to $2.5 million and loan-to-value ratios up to 80%, these programs enable portfolio growth without the traditional documentation hurdles.
Deephaven’s Equity Advantage product helps homeowners access equity while keeping their low-rate first mortgage intact. Borrowers can secure up to 90% combined loan-to-value on primary residences and loan amounts up to $750,000, using funds for renovations, debt consolidation, or business growth.
And for self-employed and contract workers, Deephaven’s bank statement and 1099 programs provide a responsible alternative to agency underwriting, reflecting how Americans earn today.
As HousingWire recently noted, these types of programs are fueling a wave of opportunity for borrowers once left out of traditional lending pipelines.
Now, let’s talk about why the Anchor and Deephaven connection matters.
Anchor Loans and Deephaven Mortgage are both part of Pretium, one of the largest investors in single-family housing nationwide. Pretium’s portfolio of more than 100,000 homes underscores the strength and stability behind both organizations.
Anchor Loans has funded over $19 billion in real estate projects across the country, specializing in construction, fix-and-flip, and bridge financing. Our focus is speed, reliability, and partnership. Deephaven complements this by offering long-term mortgage solutions that help borrowers transition from short-term investment or construction financing into permanent, sustainable funding.
Together, we provide a full-spectrum lending ecosystem, from acquisition and construction to long-term financing, empowering builders, developers, and investors to grow confidently through every stage of a project.
Non-QM lending also plays a vital role in fueling housing growth, especially as the nation faces a persistent housing shortage. Many smaller builders and developers depend on flexible capital to complete projects, while investors use DSCR and bridge loans to revitalize older properties. Homeowners leverage second-lien and cash-out products to renovate existing homes, improving both quality and availability.
These activities stimulate local economies and make housing more accessible. Deephaven’s mortgage programs, paired with Anchor Loans’ quick-draw construction financing, help deliver new and improved homes faster. According to Freddie Mac’s 2024 Housing Supply Update, the U.S. remains short by millions of units, underscoring the importance of innovative capital solutions like these.
Both Anchor Loans and Deephaven Mortgage believe that education is the foundation of long-term success. For brokers and investors new to non-QM, the first step is choosing an experienced lending partner who can guide them through product nuances. The second is action, closing a non-QM loan to gain first-hand experience. Once confident, originators can expand offerings and market themselves as non-QM specialists.
Deephaven’s account executives provide dedicated support, training, and resources to help brokers build sustainable pipelines. Anchor Loans mirrors this approach for real estate investors, ensuring each project benefits from clear communication, market insights, and expert partnership. Together, we make education and collaboration central to the lending process.
Here’s the bottom line.
The non-QM market has reached a turning point. As MPA Talk experts noted, “If you are an originator in 2025 and you are not familiar with non-QM, you are behind the times.” Non-QM is not a side option. It is the future of flexible, borrower-centered finance.
Deephaven Mortgage is leading that evolution by expanding access to responsible, innovative programs that meet the needs of today’s borrowers. Anchor Loans is proud to work alongside Deephaven, helping real estate investors, builders, and developers move faster, think bigger, and build stronger.
Together, we’re creating opportunity across the housing market, one borrower, one project, and one partnership at a time.
Thanks for joining us on the Anchor Loans Real Estate Insights Podcast, we'll see you next time!