Non-Qualified Mortgages (Non-QM) Florida Mortgage Lenders
Florida mortgage lenders provide non-QM loans that don’t meet the qualifications for qualified mortgages. These home loans offer more flexible underwriting standards, making them an attractive option for borrowers without traditional income documentation. However, they often come with higher interest rates and fees, so weighing the pros and cons before pursuing this option is essential.
Popular Florida NON QM Mortgage Options Include:
- Bank Statement– average 12 or 24 average bank deposits with no tax returns.
- 3-Month Bank Statement– Owner Financing, self-employed bank statement, mortgage.
- Self-Employed Mortgage– If you write off too much of your income.
- Jumbo– NON QM Mortgages and Alt doc super jumbo loans over $806,500 up to $50 Million
- No Income– No doc, stated Florida no Income verification Mortgage Lender
- NO tax return– lenders use 1099, bank statement documentation.
- VOE– your VOE to disregard your tax return write-offs.
- Pledged Assets– Assets in your account to qualify.
- P&L Only– Use your licensed Tax preparer’s Profit and Loss to qualify.
- ITIN Mortgage– Non-residents can use ITIN and bank statements to mortgage a home.
- Foreign National– Nonresidents can invest, purchase, or cash out.
- Bad Credit– Bad Credit mortgage approvals are based on payment history.
- Stated Income– Stated Income and document assets and reserves.
- Cross Collateral – Up to 90% financing when pledging more than one property for collateral.
- Bridge-to-Sale – Help clients access their listed property’s equity before its sale.
- Asset Depletion – Increase client purchasing power by calculating assets into qualifying income.
- Pledged Asset – Jumbo cashouts up to 90%(stocks, mutual funds, etc.) without liquidating.
- 1099 Mortgage Lenders– Use 1099 Income to qualify for up to 100% deposits for income.
- NO Income Florida mortgage lenders: use credit, assets, and reserves to document the ability to repay.
