Non-QM mortgages in Florida
Non-QM Mortgage in Florida
Non-QM covers the borrowers conventional underwriting turns away: a recent credit event, foreign or ITIN documentation, assets instead of income. Tell us the situation and a licensed Florida loan officer will tell you which programs are open to you.
- Licensed Florida mortgage broker · NMLS# 1859012
- Non-QM, DSCR and bank statement specialists
- No tax returns required on these programs
- A licensed loan officer replies, not a call center
Step 1 of 617%
Which of these fits best?
Each one is a different program with different guidelines. Pick the closest.
What this program does
Guidelines built for the exception
Non-QM exists precisely for files conventional underwriting cannot score.
Shorter waiting periods after a credit event
Where conventional makes you wait years, several Non-QM programs do not.
Alternative income documentation
Bank statements, assets, 1099s or rental income in place of tax returns.
Foreign and ITIN borrowers
Programs that do not require a US credit score or a social security number.
Common questions
- What does Non-QM actually mean?
- It means the loan does not meet the Consumer Financial Protection Bureau’s Qualified Mortgage definition, which is a rule about documentation and features rather than a judgement about the borrower. Non-QM lenders underwrite the file directly.
- Is a Non-QM loan a subprime loan?
- No. Subprime describes credit quality; Non-QM describes how the loan is documented. Plenty of Non-QM borrowers have excellent credit and simply do not have conventional paperwork.
- How soon after a bankruptcy can I buy?
- It depends on the chapter, the discharge date and the program. Some Non-QM options open considerably sooner than conventional. The call is where that gets answered against your dates.
- Will I need a bigger down payment?
- Usually more than a conventional minimum, and how much depends on the program, the property and your credit. A loan officer can put a real number on it once the file is described.
Want the long version? Read the full other non-qm situations guide.