Non-QM Loans
Bank statement loans, DSCR, asset depletion, ITIN, and foreign national programs — financing solutions for borrowers who don't fit the traditional mold.
What Is a Non-QM Loan?
A Non-QM (non-qualified mortgage) loan is any mortgage that doesn't meet the Consumer Financial Protection Bureau's definition of a “qualified mortgage.” But that doesn't mean it's risky, subprime, or predatory — it simply means the loan uses alternative methods to verify a borrower's ability to repay.
Traditional mortgages rely on W-2 income, tax returns, and standard debt-to-income ratios. Non-QM loans recognize that millions of creditworthy borrowers — business owners, freelancers, investors, retirees, and international buyers — don't fit neatly into that box. These programs use bank statements, asset portfolios, rental income, or other documentation to qualify you.
Types of Non-QM Loans
Bank Statement Loans
For eligible borrowers, lenders may use 12 to 24 months of personal or business bank statements as alternative documentation. The lender reviews deposits to calculate qualifying income. This may help self-employed borrowers whose tax returns understate their actual earning power due to legitimate business deductions.
1099 Income Loans
Designed for independent contractors, consultants, and gig workers who receive 1099 forms instead of W-2s. Eligible borrowers may use 1099 income as alternative documentation instead of full tax returns. This program can fit many freelance income profiles.
DSCR Loans
Debt Service Coverage Ratio loans are built for real estate investors. Instead of using your personal income, the lender may evaluate eligibility based on the property's rental income relative to its mortgage payment. If the rent supports the debt, the file may qualify under certain DSCR guidelines, with documentation requirements varying by lender.
Asset Qualifier
If you have significant liquid assets — savings, investments, retirement accounts — some programs may evaluate eligibility based on those assets rather than traditional monthly income. The lender divides your total eligible assets over the loan term to calculate a qualifying “income.” This is especially useful for retirees or high-net-worth individuals with assets but limited traditional income.
ITIN Loans
An Individual Taxpayer Identification Number (ITIN) is issued by the IRS to individuals who are required to file taxes but don't have a Social Security number. ITIN loans allow these borrowers to purchase a home using their ITIN, tax returns, and bank statements as documentation. This program opens homeownership to a large segment of Miami's working population.
Foreign National Loans
International buyers who want to invest in Miami real estate may have options even without U.S. credit, a Social Security number, or domestic income verification, subject to program rules. Foreign national programs typically require a larger down payment (25–30%) and use the borrower's international credit profile, passport, and bank statements for qualification. Miami's international appeal makes this one of our most active programs.
P&L Loans
Eligible business owners may use a CPA-prepared profit and loss statement instead of tax returns or bank statements when program rules allow. This can support a streamlined documentation process with accountant-prepared records.
Bank Statement HELOC
Access your home equity through a line of credit while qualifying with bank statements instead of traditional income documentation. Perfect for self-employed homeowners who need flexible access to their equity.
Who Benefits from Non-QM?
Non-QM loans serve borrowers who are creditworthy but don't fit the conventional documentation requirements:
- Self-employed professionals — business owners, doctors, attorneys, and consultants whose tax returns show lower income due to deductions.
- Gig economy workers — rideshare drivers, freelance creatives, and contract workers with variable income streams.
- Real estate investors — individuals building a rental portfolio who need property-based qualification.
- Foreign nationals — international buyers purchasing vacation homes or investment properties in Miami.
- Retirees with assets — individuals with substantial savings or investments but limited monthly income on paper.
- ITIN holders — hardworking individuals who file taxes and have stable income but lack a Social Security number.
This Is What Sets Us Apart
Non-QM lending is where Abel Medero and VMA Lending, LLC truly stand out. While big banks follow rigid underwriting boxes, Abel works with specialized wholesale lenders who understand that real people don't always fit into neat categories.
With 30+ years in the banking and mortgage industry and access to over 45+ wholesale lenders, Abel knows which programs exist, which lenders are most flexible, and how to structure a file so it gets approved. He's closed loans for business owners who were turned away by three banks, for foreign investors buying their first Miami property, and for ITIN borrowers achieving homeownership for the first time.
If you've been told “no” by a traditional lender, that's exactly where the conversation should start with Abel Medero.
Turned Down by a Bank? Let's Talk.
There's more than one way to qualify for a mortgage. Tell us your situation and we'll show you the programs available to you — with real numbers, not vague promises.
Abel Medero, NMLS #1010813. VMA Lending, LLC, NMLS #2734596. Licensed mortgage broker, State of Florida. This is not a commitment to lend. All loan programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice. Not all applicants will qualify. Non-QM loan programs may have higher interest rates and require larger down payments than qualified mortgage programs. Equal Housing Opportunity.