Mortgage Glossary
Non-QM Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A non-QM loan is a mortgage that falls outside the Consumer Financial Protection Bureau's Qualified Mortgage standards, often using alternative income documentation.
What Non-QM Loan means
Instead of W-2s and tax returns, non-QM loans may use bank statements, 1099s, assets, or rental income. They serve self-employed borrowers, investors, and foreign nationals at slightly higher rates.
Florida example
A Florida self-employed borrower whose tax returns understate cash flow qualifies with a bank-statement non-QM loan. The flexibility opens financing that a strict conventional file would deny.
Related program: Learn more →
Related Mortgage Terms
Still have questions?
Talk to a licensed Florida mortgage broker — no cost, no obligation.