What Is a Non-QM Loan?
A Non-QM (Non-Qualified Mortgage) loan is any mortgage that falls outside the standard guidelines set by the Consumer Financial Protection Bureau (CFPB) for "qualified mortgages." This doesn't mean these loans are risky or subprime — it simply means they use alternative methods to verify a borrower's ability to repay.
Non-QM loans exist because millions of creditworthy Americans — business owners, self-employed professionals, gig workers, real estate investors, and foreign nationals — don't fit neatly into the traditional W-2 lending box. These programs recognize that tax returns don't always tell the full story of someone's income and ability to repay.
With access to 299+ wholesale lenders, I offer the broadest selection of Non-QM products in Florida, ensuring we find the right program for your specific situation.
Non-QM Loan Programs
Bank Statement Loans
Use your personal or business bank statement deposits to qualify instead of tax returns. We calculate your income based on average monthly deposits — perfect for self-employed borrowers whose tax returns show lower income due to write-offs and deductions.
| Requirement | Details |
|---|---|
| Documentation | 12 or 24 months of personal or business bank statements |
| Credit Score | 600 minimum (660+ for best rates) |
| Down Payment | 10-20% depending on loan amount and credit |
| Loan Amounts | Up to $3M+ |
| Self-Employment | Minimum 2 years self-employed (1 year with some lenders) |
Asset Depletion / Asset Qualifier Loans
Have significant liquid assets but limited documented income? Asset depletion loans let you qualify by dividing your total qualifying assets by the loan term to create a calculated monthly income. Ideal for retirees, high-net-worth individuals, and those living off investments.
| Requirement | Details |
|---|---|
| Documentation | 2-3 months of asset statements (bank, brokerage, retirement) |
| Minimum Assets | Sufficient to cover loan amount + reserves (varies by lender) |
| Credit Score | 620 minimum |
| Down Payment | 15-25% |
| Property Types | Primary residence, second home, investment property |
Foreign National Loans
Foreign nationals can purchase property in Florida without a Social Security number, US credit history, or US-based income. These programs are designed for international buyers investing in Florida real estate or purchasing vacation homes.
| Requirement | Details |
|---|---|
| Documentation | Valid passport, visa (if applicable), foreign credit report or bank references |
| Down Payment | 25-30% minimum |
| Loan Amounts | $100K to $3M+ |
| Property Types | SFR, condos, townhomes, 2-4 units |
| Occupancy | Investment property or second home |
ITIN Loans
ITIN holders who file US taxes but don't have a Social Security number can qualify for mortgage financing. Use your ITIN tax returns to document income and purchase a home in Florida.
Key Benefits of Non-QM Loans
Most Non-QM programs do not require personal or business tax returns, removing the biggest obstacle for self-employed borrowers.
Bank statements, asset statements, 1099s, P&L statements, CPA letters — multiple ways to document your income beyond traditional methods.
Many Non-QM programs allow for recent bankruptcies, foreclosures, short sales, or other derogatory credit events with shorter waiting periods than conventional loans.
Non-QM loans are not bound by conforming loan limits. Loan amounts up to $3M or more are available depending on the program.
Why Work with Jason for Non-QM Loans?
Non-QM lending requires a broker who truly understands the products. Guidelines, overlays, and pricing vary enormously between lenders — and the wrong choice can mean paying thousands more or getting denied unnecessarily. With 25+ years of experience and access to the widest selection of Non-QM products in the market, I'll match your unique situation to the perfect program.
If you've been told "no" by a bank or another lender, call me. There's almost always a path forward — and I know where to find it.