These loans are not for everyone. Call me to better understand the pros and cons of these non-traditional mortgages.
Shahram Sondi | Certified mortgage advisor™ | NMLS 186790
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Benefits of Florida
Non-QM loans
LOW
credit scores as low as 580 accepted for qualified buyers
Lenient
income documentation requirements compared to traditional mortgages
ideal
for self-employed borrowers seeking to buy investment properties
DSCR Loans
May qualify based on the property’s projected rental income
What is a non-QM loan?
A mortgage that doesn’t meet traditional qualifying standards, offering flexible options for borrowers with unique financial situations.
What are the risks of a non-QM loan?
Potential for higher interest rates, less standardized terms, and stricter prepayment penalties compared to conventional loans.
What are the current non-QM mortgage rates?
Rates vary widely based on individual circumstances but are typically higher than conventional loan rates. Contact me for current offers.
How does a non-QM loan work?
Non QM loans use alternative methods to verify a borrower’s ability to repay, accommodating unique income or credit situations.
Is it hard to get a non-QM loan in Florida?
While criteria are different from traditional loans, non QM loans can be easier to qualify for if you have non-traditional income or credit issues.
Do I need mortgage insurance?
Not always. Some non QM loans don’t require mortgage insurance, even with a lower down payment.
Let’s crunch the numbers and see what’s possible
Find out how much you can afford—plus what you could pre-qualify for
Guides on Non-QM loans
No need to figure it out alone—check out these handy how-tos on Florida Non-QM loans
Buying your first home in Florida involves more than choosing a house and locking a rate. Insurance costs, roof age, loan program rules, and seller concessions can all impact whether a deal closes and stays affordable. This Florida-specific first-time homebuyer guide explains the full process — from mortgage strategy to occupancy — so you can buy with clarity and confidence in 2026.
10th of Jan. 2026
6 min. read
Florida mortgage rates in 2026 are only part of the story. The real challenge for buyers is total cost of carry, including insurance, escrow, and qualifying impact. This expert guide explains how to evaluate Florida mortgage rates the right way, avoid common comparison mistakes, and structure a loan that actually closes and stays affordable long term.
10th of Jan. 2026
7 min. read
Introduction When it comes to securing a mortgage, most people are familiar with conventional loans and government-backed options like FHA, VA, and USDA loans. However, there’s a lesser-known player in the mortgage game that caters to a different audience—Non-QM loans. In this guide, we’ll delve into the intricacies of Non-QM loans, understanding what sets them apart, theirContinue reading “Florida Non-QM Loans: [r]Flexible Mortgages[/r] for Unique Circumstances”
22nd of Feb. 2024
9 min. read
Non QM loans can be more expensive than traditional mortgages, but this isn’t always the case. The cost of a non QM loan depends on various factors:
1. Interest rates: Non QM loans often have higher interest rates to offset the increased risk to lenders.
2. Down payment: A larger down payment can lead to better rates and terms.
3. Credit score: While non QM loans are more flexible, a higher credit score can still result in better terms.
4. Income stability: Even with alternative income verification, stable income can lead to more favorable terms.
4. Loan purpose: Purchase loans might have different pricing than refinance loans.
As a non QM loan specialist in Florida, I can help you find competitive rates and terms tailored to your unique situation. While non QM loans might have higher upfront costs, they can provide valuable opportunities for homeownership that might not be available through traditional lending channels.
Non QM loans come in various forms to accommodate different borrower needs:
1. Bank Statement Loans: Ideal for self-employed borrowers, using bank statements to verify income instead of tax returns.
2. Asset Depletion Loans: For borrowers with significant assets but lower regular income, using assets to qualify for the loan.
3. Interest-Only Loans: Allows lower initial payments by paying only interest for a set period.
4. Jumbo Loans: For high-value properties exceeding conventional loan limits.
5. Foreign National Loans: Designed for non-U.S. citizens looking to purchase property in Florida.
6. Recent Credit Event Loans: For borrowers who’ve experienced a recent bankruptcy, foreclosure, or short sale.
7. Debt Service Coverage Ratio (DSCR) Loans: For investment properties, using the property’s potential rental income to qualify.
Each type of non QM loan serves a specific purpose, allowing more Floridians to access homeownership or investment opportunities. As your non QM loan expert, I can help determine which type best suits your needs.
Applying for a non QM loan in Florida is similar to applying for a traditional mortgage, with some key differences:
1. Initial Consultation: Discuss your financial situation and goals with a non QM loan specialist like myself.
2. Choose the Right Non QM Loan: Based on your situation, we’ll determine which type of non QM loan best fits your needs.
3. Gather Documentation: Collect necessary documents, which may differ from traditional loans (e.g., bank statements instead of tax returns for self-employed borrowers).
4. Pre-Qualification: Get an estimate of how much you might be able to borrow with a non QM loan.
5. Property Selection: Find a property that meets your needs and budget.
6. Loan Application: Complete the formal application for your chosen non QM loan program.
7. Underwriting: The lender reviews your application and documentation. This process might be more hands-on than with traditional loans.
8. Appraisal: An appraisal is ordered to verify the property’s value.
9. Loan Approval: Once all conditions are met, your non QM loan is approved.
10. Closing: Sign the final documents and receive the keys to your new Florida home.
Throughout this process, I’ll be your guide, ensuring you understand each step and helping you navigate the unique aspects of non QM loans. With my expertise in Florida’s non QM loan market, we can work together to make your homeownership dreams a reality.
