NON-QM LOAN PROGRAMS · FLORIDA
Non-QM Loan Programs in Florida
For borrowers whose income, credit, or citizenship doesn’t fit standard agency guidelines — self-employed business owners, real estate investors, retirees living on assets, and non-US citizens buying in Florida.
Prefer to talk? Call (352) 580-6160.
Check Your Non-QM Eligibility
WHO THIS FITS
Five situations, five programs
Non-QM isn’t one loan. It’s a set of programs, each built for a different reason a standard agency file doesn’t work. Find the sentence below that sounds like your situation.
Which one sounds like you?
| “My tax returns don’t reflect my real income.” | Self-employed owners whose write-offs lower taxable income on paper. → Bank Statement |
|---|---|
| “I’m financing a rental, not a home to live in.” | Investors who want to qualify on what the property earns. → DSCR |
| “My income is in my portfolio, not a paycheck.” | Retirees and asset-rich borrowers. → Asset Depletion |
| “I’m not a US citizen.” | Buyers without US credit or income history. → Foreign National |
| “My income is real, but I can’t document it the usual way.” | Cash-based businesses, and 1099 or gig work not covered elsewhere. → No-Income Verification |
Not sure which fits? The eligibility check above routes you to the right one.
Every one of these is a real program with its own guidelines. The eligibility check tells you which applies before you spend time on the wrong one.
THE QUESTIONS PEOPLE ACTUALLY ASK
Non-QM, answered plainly
What is a Non-QM loan?
A Non-QM (“non-qualified mortgage”) loan is underwritten outside the standard agency rulebook, evaluating a borrower’s real financial picture through means other than a traditional W-2 and tax-return file. Non-QM loans are manually underwritten — a person evaluates the complete file rather than an automated system applying one standard rule set.
Who actually uses a Non-QM loan?
Self-employed business owners whose tax returns understate real cash flow, real estate investors qualifying on rental income, retirees whose wealth is in assets, and non-US citizens purchasing Florida property without a US income or credit history.
Is there a Non-QM option beyond the five main programs?
Bank statement and asset depletion programs cover the most common Non-QM scenarios, but for specific income types a more targeted program may fit better: 1099 and gig-economy income, IRA distribution income, CPA-prepared profit-and-loss statements in place of tax returns, and income specific to real estate investors managing multiple properties. Ask which applies to your situation.
When is Non-QM not the right path?
Non-QM programs exist for alternative income documentation and investment-property scenarios that agency programs don’t reach. They’re not the right choice for every borrower. If you have W-2 income, documentable employment, and a file that fits agency guidelines, a standard program may be the better starting point — worth asking about both before deciding. The real question isn’t whether a Non-QM program is available; it usually is. It’s whether it’s the best path for your scenario, and that’s worth a real conversation before assuming either way.
HOW IT WORKS
How Non-QM underwriting actually works
Non-QM loans replace the standard agency income test — W-2s, tax returns, automated underwriting — with a different, still-rigorous test suited to the borrower’s actual financial picture: rental income coverage for an investment property, bank deposits for a self-employed borrower, or asset totals for someone living on investments. Every program sets its own credit, reserve, and documentation requirements, evaluated per scenario — Atlantic matches your file to the guidelines that actually fit.
REQUIREMENTS REFERENCE
What Non-QM programs have in common
Specifics vary program by program. These hold across the set.
Common to every Non-QM program
| Underwriting | Manual, full-file review — every program |
|---|---|
| Standard W-2 / tax-return documentation | Not required — alternative documentation is used instead, and the method depends on the program |
| Occupancy | Primary residence, second home, or investment property depending on the program. DSCR is investment-only; several of the others allow a primary or second home |
| Citizenship | US citizens, permanent residents, and non-US citizens each have an eligible path |
| Property types | Program-dependent — confirmed per scenario during the eligibility check |
Not sure you need Non-QM at all? If you have W-2 income and documentable employment, an agency or government program may be the better starting point. Ask about both.
Most lenders set their own rules on top of the program minimums. As a broker, Atlantic isn’t tied to one lender — a scenario one lender declines may still qualify with another.
THE FIVE PROGRAMS
Programs under the Non-QM umbrella
Five Non-QM programs
| DSCR Loans | Qualify on the property's rental income, not your personal income. Learn more → |
|---|---|
| Bank Statement Loans | Qualify on 12 or 24 months of deposits instead of tax returns. Learn more → |
| Asset Depletion Loans | Qualify on investments and savings rather than income. Learn more → |
| Foreign National Loans | Financing for non-US citizens — no US credit or income history required. Learn more → |
| No-Income Verification Loans | For income that's real but not documentable through standard channels. Learn more → |
Looking for financing on a manufactured or mobile home? Start at our manufactured home eligibility hub instead — some Non-QM programs apply there too.
WHY NON-QM EXISTS
Built for the borrowers the standard file leaves out
Most agency loan programs are built around one kind of borrower: W-2 income, a standard tax return, and a primary residence. Non-QM exists for the borrowers that description leaves out.
Manually underwritten. A person reviews your complete file rather than an automated system applying one rule set.
Five distinct programs. Matched to why your file doesn’t fit, not offered as one product.
Not tied to one lender. Non-QM investors each write their own guidelines, so a scenario one declines may still qualify with another.
FREQUENTLY ASKED
Non-QM questions
Does a lower credit score disqualify me from Non-QM?
Every Non-QM program sets its own credit requirements, and they vary by lender and by how the rest of your file looks. Atlantic checks your scenario against current guidelines — no approval is implied until underwriting.
Can I use a Non-QM loan for a primary residence, or only investment property?
It depends on the program. DSCR loans are investment-property only; several of the other four can be used for a primary residence or a second home. The eligibility check routes you to the right one.
Is Non-QM the same as a “stated income” loan?
No. Stated-income loans, where a borrower simply declared income with no verification, are largely gone from today’s mortgage market. Every Non-QM program here still verifies income or assets — it just uses a different method than a standard W-2 and tax-return file.
Do Non-QM loans require a bigger down payment?
Down payment requirements vary by program and by individual scenario. It’s worth checking rather than assuming — Atlantic will walk through the specifics for your situation.
How is a Non-QM loan underwritten if not through the standard agency process?
Manually. A person reviews your complete financial picture rather than running it through an automated agency system.
Ready to see which Non-QM program fits?
Call (352) 580-6160 or request a callback — most borrowers find out where they stand in one conversation, with no obligation and no hard credit pull to get started.
No approval is implied until underwriting.
Non-QM programs are each subject to their own guidelines, credit approval, and full underwriting. Program availability and eligibility criteria are set by the applicable lender and are subject to change without notice. This is not an offer or commitment to lend. Equal Housing Opportunity. Atlantic Mortgage & Finance Corp. · NMLS #3915 · Licensed Florida Mortgage Broker. For licensing information, go to: www.nmlsconsumeraccess.org.
Michael Dorosko — Ocala Branch Manager · NMLS #22951 · 25+ years in lending.
Atlantic Mortgage & Finance Corp. is not acting on behalf of or at the direction of HUD, FHA, the U.S. Department of Veterans Affairs, the U.S. Department of Agriculture, or any government agency. Program guidelines are subject to change without notice.