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
Instead of tax returns, you qualify using 12 to 24 months of personal or business bank statements. The lender calculates your income from your deposits. This is ideal for 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. You qualify based on your 1099 income without needing full tax returns. This program is built for the growing freelance workforce.
DSCR Loans
Debt Service Coverage Ratio loans are built for real estate investors. Instead of using your personal income, the lender qualifies you based on the property's rental income relative to its mortgage payment. If the rent covers the debt, you qualify — no tax returns, no employment verification needed.
Asset Qualifier
If you have significant liquid assets — savings, investments, retirement accounts — you can qualify based on those assets rather than 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 can qualify without U.S. credit, a Social Security number, or domestic income verification. 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
Qualify using a CPA-prepared profit and loss statement instead of tax returns or bank statements. Ideal for business owners who want a streamlined documentation process with their accountant's backing.
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.