Non-QM Jumbo Loans in St. Augustine Shores, FL

A higher-priced home in St. Augustine Shores can push your loan past the conforming limit that FHFA sets, which makes it a jumbo loan. If your income also comes from a business, commissions or investments rather than a salary, a non-QM jumbo may be the route that fits. Florida lenders reviewing these files tend to look hard at your assets, the property's value and how your income is documented.

Have a question about your situation?

Call to speak with a licensed loan officer about Non-QM jumbo loans in St. Augustine Shores. Programs vary by borrower, property and investor.

Call (888) 508-8976 Apply Online Now

High-balance lending around St. Augustine Shores

516Jumbo first liens in St. Johns County (2024)

$339,300Median home value

23.9%Conventional first liens not sold that year

$395,000Median purchase loan (county)

HMDA data show 516 jumbo first mortgages in St. Johns County in 2024. 23.9% of conventional first liens there were not sold to another institution in the year they were made, which includes loans lenders keep on their own books, the usual home for jumbo and non-QM loans. The median home in St. Augustine Shores is valued at about $339,300; whether a loan is jumbo depends on the loan amount and that year's limit for the county.

When a loan becomes jumbo and why your income type matters

Two separate tests decide what kind of loan you are looking at. The first is size: whether the amount you need exceeds the conforming limit FHFA publishes for St. Johns County. The second is documentation: whether your income can be proven with tax returns and the usual paperwork, or needs another method.

If your loan is large and your returns tell your income story well, a full-doc jumbo is usually worth pricing first, because it often costs less. If your returns understate your earnings, a non-QM jumbo can use deposits or a preparer-backed P&L instead. It often prices higher, since it carries more risk for the investor. Asking for both quotes at the start keeps you from guessing.

Start hereApply Online Now

Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.

Takes a few minutes
Reviewed by a licensed loan officer
No obligation to proceed

Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Reserves and asset documentation on a large balance

Asset review on a non-QM jumbo is detailed because the lender wants proof that you can weather a slow stretch in your business without missing a payment. Plan to show where your down payment and closing funds came from and what remains after closing.

Gather statements for every account you plan to use, and keep them consistent: same account numbers, all pages, no gaps. Lenders commonly ask for an explanation of any transfer that is not routine, such as a business distribution, a stock sale or a family gift. If business funds will be used, many programs ask for a CPA or preparer letter or a cash flow review to confirm the withdrawal will not harm the company. Requirements here differ from one program and investor to the next.

Who this tends to fit

You want a full-doc jumbo and a non-QM jumbo priced side by side
You were turned down for a full-doc jumbo because of how your income is reported
Your pay comes from commissions, distributions or a mix of sources
You are moving up from a conforming loan to a higher-priced home
You own a business and your returns show less income than you actually earn

Local offices and Florida rules to know

Property assessment: St. Johns County Property Appraiser's Office.
Deed and mortgage recording: St. Johns County Clerk of Court and Comptroller - Recording Division. Your mortgage is recorded here after closing.

Florida recording costs: Documentary stamp tax on deeds and other documents that transfer an interest in Florida real property; documentary stamp tax on notes and recorded mortgages (written obligations to pay money); and nonrecurring intangible tax on mortgages - collected by the county clerk when the document is recorded. Your Loan Estimate lists the taxes that apply to your loan.

Appraising a high-value home in St. Augustine Shores

Appraisals on higher-priced homes are often harder than on typical houses. There may be fewer recent sales of similar homes nearby, and features such as acreage, waterfront, custom construction or a guest house are harder to value. Lenders commonly use more experienced appraisers for these files and may order a second appraisal or a desk review on larger loans.

Because your down payment and the loan amount both depend on the appraised value, a low figure can force a change in plans. Ask whether the lender requires one appraisal or two, who chooses the appraiser, and how a reconsideration of value works. Share a list of upgrades and recent comparable sales your agent has found so the appraiser has full information.

Before you call

Your filed returns, so a full-doc jumbo can be priced for comparison
Recent comparable sales and a list of the home's upgrades for the appraiser
Retirement account statements showing vested balances
A paper trail for large deposits, transfers, gifts or asset sales
Personal or business bank statements for the review window the program uses

Questions St. Augustine Shores borrowers ask about Non-QM jumbo loans

Should I try a full-doc jumbo before a non-QM jumbo?

If your tax returns support the income you need, a full-doc jumbo is usually worth pricing first, since it often costs less and draws on more lenders. If your returns understate your earnings because of deductions or a recent jump in business income, a non-QM jumbo may be the realistic path. Asking for both scenarios at once shows you the real difference.

Will I need two appraisals?

Sometimes. Some jumbo programs require a second appraisal or a desk review above a certain loan size, and some lenders order one when the first report relies on distant or dated comparable sales. Ask at the start whether a second valuation is likely so you can plan for the time it adds and understand who pays for it.

What makes a loan a jumbo loan?

A jumbo loan is any mortgage larger than the conforming loan limit FHFA sets for the county where the home sits. Loans under that limit can be bought by Fannie Mae or Freddie Mac. Loans above it are held by banks or sold to private investors. Limits differ in some high-cost counties, so ask a loan officer to confirm the figure for your property.

Can I use business funds for a jumbo down payment?

Many programs allow it with documentation. Lenders commonly want proof that removing the money will not hurt the business, often through a CPA or tax preparer letter or a review of business cash flow. Moving funds into a personal account early and keeping a clear paper trail can make sourcing simpler. Ask your loan officer how they handle business assets.

Talk to a licensed loan officer

Get answers about Non-QM jumbo loans for a home in or around St. Augustine Shores. Subject to credit approval; programs vary.