Florida Non Qualified Mortgage Lender

Non-Qualified Mortgage In Florida

What is a Non-Qualified Mortgage?

A non-qualified mortgage (non-QM) is a home loan that does not comply with the Consumer Financial Protection Bureau’s (CFPB) lending criteria and does not meet the requirements of a qualified mortgage. Non-QM loans are intended for borrowers who cannot meet the stringent requirements for a qualified mortgage, such as a specified debt-to-income (DTI) ratio or a minimum credit score. Non-qualified mortgages are frequently utilized by borrowers with low credit scores, high DTI ratios, or irregular income, such as freelancers or self-employed individuals, who may require more creative income verification methods.

What is the Difference Between Qualified and Non-Qualified Mortgages?

The primary distinction between qualified and non-qualified mortgages is their adherence to consumer protections established by the Dodd-Frank Act and the Consumer Financial Protection Bureau. These safeguards are followed by qualified mortgages, which regulate interest rates and fees on home loans and require lenders to verify the borrower’s ability to repay the loan. Non-qualified mortgages, on the other hand, do not adhere to these rules and are not insured, guaranteed, or backed by government organizations such as the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), Fannie Mae, or Freddie Mac. Non-QM loans may include a wide range of mortgages, including those with terms longer than 30 years and those with negative amortization.

What are the Advantages of a Non-Qualified Mortgage?

The advantages of a non-qualified mortgage (non-QM) include:

  • Access for borrowers with low credit scores:

Non-Qualified mortgage loans provide an opportunity for homebuyers with low credit scores to purchase a home.

  • Less stringent income documentation:

Non-QM loans have more flexible documentation requirements, making it easier for self-employed individuals, business owners, or gig-economy workers to qualify for a mortgage without providing traditional income documentation like paycheck stubs, W-2s, or tax returns. 

  • Suitability for real estate investors:

Non-QM loans are an excellent option for investors with more than ten financed investment properties, which is the limit set by most traditional lenders. Non-QM lenders may also offer debt-service coverage ratio loans, which qualify borrowers based on rental revenue from the new property rather than other sources of income.

  • Availability of interest-only loans:

Non-QM lenders can offer interest-only loans, which are not allowed for qualified mortgages. These loans can be a popular choice for investors.

  • Easier mortgage approval:

Due to a more flexible financial verification process, obtaining a non-qualified mortgage loan might be easier for certain types of borrowers.

It is important to note that while non-QM loans may benefit borrowers who do not qualify for traditional mortgages, they may also come with higher interest rates and fees due to the greater risk that lenders take on when offering these loans.

Apply for a Non-Qualified Mortgage in Florida

It’s essential to recognize that non-QMs are different from subprime mortgages if you’re worried about whether they’re safe. Our Home Loan Specialists can answer your questions about Non-Qualified Mortgage if it is your best option.

Apply for a non-QM mortgage in Florida with Capital Home Mortgage today. Call (239) 310-5599 to obtain a no-obligation consultation.

Why Florida HomeBuyers are Choosing Capital Home Mortgage

Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Florida Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness
Florida Mortgage Programs

Florida Home Purchase

Thinking of Buying a Florida Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Florida renovation home loans

Looking to Rehab a Florida Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Florida FHA Home Loans

Great for 1st Time Florida Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Florida VA Home Loans

100% Financing for Florida Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Florida Conventional Home Loans

Flexibility for Florida Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Florida Jumbo Home Loans

Florida Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Florida USDA Home Loans

100% Rural Florida Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Florida Native American Home Loans

Florida HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Florida Manufactured Home Loans

Great Alternative Florida Housing

Florida reverse mortgages

Your Florida Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Florida Non QM Home Loans

Making Florida Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Florida One Time Close Home Loans

Build Your Florida Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Florida Refinance Mortgage Loans

Florida Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Florida Cash-out Home mortgages

Florida Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Florida Mortgage Team

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