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A non-qualified mortgage or non-QM is a loan for borrowers who cannot meet the guidelines of an Agency or a qualifying mortgage (QM). 

Simple qualifying self-employed mortgage loans for Florida homeowners.

Close with confidence.


Non-QM must satisfy the ability to repay rule (ATR) just like a QM loan, but there are benefits to non-QM that do not apply to a QM loan. Non-QM can have loan terms that exceed 30 years or interest only payments.

The caps on fees and points are maxed at 5% versus 3% for a QM loan. The standard DTI on a primary or a second home is 40/50, whereas the DTI on a QM loan can vary. Self-employed borrowers can qualify submitting bank statements from a personal or business account in lieu of tax returns. Agency or QM loans do not allow bank statement submissions. A huge benefit for real estate investors is that non-QM does not have a limit on the number of non-owner occupied (NOO) properties a borrower can own. As well, non-QM allows NOO properties to close in an LLC while a QM loan does not allow this benefit.

Why would they require non-QM to qualify for a mortgage?

Depending on the borrower’s unique situation, they may not have the employment or tax documentation to qualify for an Agency loan. As mentioned, Fannie Mae has tightened guidelines for second home and investment loans.  Other situations include limits on the total number of properties, non-warrantable condos, and if rental property is held under an LLC.

  • We have established relationships with the top Non-QM lenders

  • Flexible underwriting with options for nearly all borrower types. 

  • Primary, 2nd Home, or Investment

  • 500 Minimum FICO Score (Required)

  • Purchase, Refinance, and Cash OutRefinance 

  • Single Family, Condo, Condo-Hotel, Townhouses, or Multi-family (2-4units)

  • Warrantable and Non-Warrantable Condos Allowed

  • No Condo Questionnaire programs

  • DSCR and No Ratio Rental Property  Programs 

  • $10M Max Loan Amounts

  • Up to 95% LTV

  • No PMI Above 80%LTV

  • Investment Properties can close in an LLC or Personal Title

  • Alternative Income Verification -No Tax Returns Required                  

    • Business or Personal Bank Statements (1, 3, 12 and 24 Months Statements)

    • Profit and Loss (Borrower and CPA Prepared)

    • 12 Months Income (Only 1 Year Tax Returns if Self Employed)

    • No Income / No Employment (NO Ratio) Owner Occupied 

    • Assets for Income

    • Subject Rental Income Only

    • K1 and W2's only

    • DSCR - Rental Income to qualify

    • No DSCR - No Rental Income required

    • Foreign Nationals - No Credit Needed and No Income Verified

  • Quick closings! 1-3 weeks, depending on lender and program

Self-Employed Borrowers

Help self-employed borrowers qualify by basing income on their cash flow and liquid assets since their tax returns and W-2s of pay stubs alone may not be reflective of their ability to repay.  

Life Credit Events

Helps a borrower that was affected by a negative life or credit event (e.g., bankruptcy, foreclosure, short sale, loss of job, divorce, medical issues, recent mortgage lates).

No Income/High Assets

Allows borrowers to qualify for loans using their liquid assets and does not require employment or debt to income to justify ability to repay. For borrowers who have enough assets to buy the home outright, but they don’t want to liquidate their assets to do so.

All loans are subject to credit approval. Interest rates are subject to change daily and without notice. Actual terms and conditions will depend on the details of each application and will vary upon the loan type, purpose, lock-in period, credit score and loan to value. This advertisement shall not be deemed to be an offer to extend credit and subject to final credit approval. Call or email us today with the details of your real estate needs for a customized quote.

* Terms may vary based on your particular situation, purchase, cash-out or rate/term transaction. Rate adjustments and prepayment penalties may apply.

Copyright ©2022 Bennett Capital Partners, LLC. All rights reserved.

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