Angel Oak Mortgage Solutions Overview
Angel Oak Mortgage Solutions is one of the pioneers of the non-QM lending market in the United States. Based in Atlanta, Georgia, Angel Oak has been at the forefront of developing alternative lending products for borrowers who do not fit the conventional or agency loan box — including real estate investors, self-employed professionals, and foreign nationals.
Angel Oak operates through a wholesale channel, which means they work primarily with mortgage brokers rather than directly with borrowers. This broker-channel approach gives investors access to Angel Oak's products through their existing broker relationships. The advantage is competitive pricing driven by wholesale margins, but it does mean you will need to find a broker who carries Angel Oak's products.
Angel Oak's product lineup is one of the most extensive in the non-QM space. Beyond DSCR loans for investors, they offer bank statement loans, asset qualifier loans, and various other non-QM products. Their DSCR program supports loan amounts up to $3 million with LTV up to 85%, making them one of the most aggressive lenders on leverage for investment properties.
Loan Products Offered
- DSCR investor loans — 30-year term loans qualified on rental property income
- Bank statement loans — 12 or 24 months of bank statements for self-employed investors
- Asset qualifier loans — qualify based on liquid assets rather than income
- Non-QM full documentation loans — alternative income calculation methods
- Jumbo non-QM loans — high-balance loans outside conventional limits
Rates and Terms
Angel Oak offers DSCR loans at competitive market rates, typically in the 6.5% to 8% range depending on credit score, LTV, DSCR ratio, and property type. Their wholesale pricing through brokers can sometimes beat direct-to-borrower lenders because brokers compete on margin.
Loan amounts range from $100,000 to $3 million, with LTV maximums up to 85% for certain DSCR products. This 85% LTV ceiling is notably higher than most competitors, who cap at 75-80%. Higher leverage means lower down payment requirements, which is a significant advantage for investors looking to deploy capital efficiently across multiple properties.
Terms include 30-year fixed and adjustable-rate options, as well as interest-only periods. Closing timelines are typically 25-35 days, depending on the broker's pipeline and the complexity of the transaction.
Requirements
- Minimum credit score: 680 for DSCR products; bank statement loans may accept 660+
- Minimum DSCR: 0.75-1.0 depending on the specific program and credit profile
- Down payment: As low as 15% on some DSCR products (85% LTV)
- LTV: Up to 85% on DSCR purchases — one of the highest in the market
- Loan amounts: $100,000 to $3 million
- Channel: Wholesale only — must apply through a licensed mortgage broker
Pros
- Pioneer of non-QM lending with deep institutional backing and capital markets relationships
- Up to 85% LTV on DSCR loans — among the highest leverage available
- Loan amounts to $3M for high-value investment properties
- Extensive product lineup beyond DSCR: bank statement, asset qualifier, and more
- Wholesale channel can offer competitive pricing through broker competition
- Established reputation and track record in non-QM market
Cons
- Broker-only channel — cannot apply directly with Angel Oak
- Finding a broker who carries Angel Oak products adds a step to the process
- Higher minimum credit score (680) for DSCR products
- Closing timelines (25-35 days) depend partly on your broker's efficiency
- Product complexity may require an experienced broker to navigate options
Who Is Angel Oak Best For?
Angel Oak is best for investors who already work with a mortgage broker and want access to institutional-quality non-QM products with aggressive leverage. The 85% LTV option is particularly valuable for investors who want to conserve cash and deploy capital across more properties rather than tying up large down payments in individual deals.
Angel Oak is also a strong fit for high-net-worth investors who want asset qualifier loans, and for self-employed investors who want bank statement qualification. If your financial picture is complex and you need a lender with multiple qualification paths, Angel Oak's product depth provides options that simpler lenders cannot match.
How to Apply
Since Angel Oak is a wholesale lender, you will need to apply through a licensed mortgage broker. If you do not have an existing broker relationship, Angel Oak's website has a broker finder tool. When contacting brokers, ask specifically if they carry Angel Oak's DSCR and non-QM products.
Your broker will handle the application, document collection, and submission process. Have your property details, rental income projections, entity documentation, and any bank statements or asset documentation ready. Your broker will shop Angel Oak's rate sheet alongside other wholesale lenders to ensure you get the best available terms.