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Non-QM Loans in Florida

What Florida borrowers should know, with county data and local pages.

Across Florida, many borrowers have finances that do not fit standard mortgage guidelines: business owners, retirees drawing on savings, borrowers with an ITIN and buyers in condo projects agency loans will not finance. Non-QM loans are built for those situations. They fall outside the Qualified Mortgage rules, but lenders must still confirm you can repay. Choose your city below to compare non-QM program types and to talk with a licensed loan officer.

Questions about Non-QM loans in Florida?

Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.

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Mortgage lenders, brokers and loan originators serving Florida are licensed by the Florida Office of Financial Regulation. Non-QM loans are made by the same licensed lenders and brokers, so you can confirm any company's or loan officer's license on NMLS Consumer Access before you apply.

Where the numbers point in Florida

Counties with the most first liens with interest-only, balloon or other non-amortizing features (2024):

CountyFirst liens with interest-only, balloon or other non-amortizing features (2024)
Palm Beach County459
Miami-Dade County397
Lee County302
Sumter County259
Polk County257
Collier County252
Hillsborough County222
Broward County195
Marion County194
Lake County178
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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.

Non-QM Loans by city in Florida

Common questions

Is non-QM the same as subprime?

No. Subprime describes a borrower's credit, while non-QM describes how a loan relates to the Qualified Mortgage rules. Many non-QM borrowers have strong credit and substantial assets but earn income in ways standard guidelines handle poorly. Non-QM loans must also meet the Ability-to-Repay rule that followed the 2008 crisis, so the lender has to document that you can repay before closing.

Why do non-QM loans usually cost more?

The investors that buy non-QM loans take on more risk than they would with an agency loan, and the market for these loans is smaller. That risk is usually reflected in pricing, so non-QM loans often price higher than conventional or government loans. Lenders may also expect a larger down payment or more reserves. How much more depends on your credit, the property and the program you choose.

What is a non-QM loan?

A non-QM loan is a mortgage that does not meet the Qualified Mortgage definition under the CFPB's Ability-to-Repay rule. It may use alternative income documentation, include a feature such as an initial interest-only period, or finance a borrower or property that agency guidelines will not. The lender must still make a reasonable, good-faith determination that you can repay. Programs vary by borrower, property and investor.

Other non-QM options in Florida

Bank statement loansSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only

Related guides

Non-QM Loans overview · Florida non-QM overview

  • 2024 HMDA data
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