Sarasota Β· Bradenton Β· Lakewood Ranch Β· Non-qualified mortgages
Non-QM Loans in Sarasota, Bradenton & Lakewood Ranch
For good borrowers whose files don't fit the standard box.
Bank statement, P&L, 1099, asset depletion, DSCR, ITIN, non-warrantable condo and recent credit event programs, all in one place. If a conventional lender said your income, property or timing doesn't fit, one of these may.
What is a non-QM loan? A non-QM (non-qualified mortgage) loan is a home loan that doesn't follow the standard Qualified Mortgage rules used for Fannie Mae, Freddie Mac, FHA and VA loans. Lenders still must verify that you can repay, but they can document income with bank statements, a profit and loss statement, 1099s, assets or rental income instead of tax returns and W-2s. Non-QM is not subprime: it's an alternative documentation path, often used by self-employed borrowers, investors and buyers of non-warrantable condos. The Galli Team, based in downtown Bradenton, offers non-QM loans across Sarasota, Bradenton and Lakewood Ranch.
QM vs. non-QM
What's actually different about non-QM?
| Conventional / government (QM) | Non-QM | |
|---|---|---|
| Income proof | Tax returns, W-2s, pay stubs | Bank statements, P&L, 1099s, assets or rent |
| Who sets the rules | Fannie Mae, Freddie Mac, FHA, VA | Each investor's own guidelines |
| Down payment | Can be as low as 0β5% | Typically 10β25% |
| Rates | Usually lower | Usually higher |
| Condos | Building must be warrantable or approved | Many non-warrantable buildings can work |
| Best fit | Your paperwork shows your full income | Your paperwork undersells your real situation |
We always check whether a conventional or government loan works first, since it usually costs less.
Non-QM programs
Eight programs, one team.
Bank statement loans
Qualify on 12β24 months of personal or business deposits instead of tax returns. Built for business owners with heavy write-offs. Sarasota bank statement loans β
P&L-only loans
A profit and loss statement prepared by a CPA or tax preparer documents your income, often with no tax returns.
1099-only loans
Realtors, contractors and consultants qualify on their 1099s with a set expense factor instead of their Schedule C.
Asset depletion
Liquid and retirement assets are converted into monthly qualifying income. Common for retirees and people who sold a business.
DSCR investor loans
Rental properties qualify on the rent they bring in, not your personal income. Common for Anna Maria and Siesta Key vacation rentals. DSCR loans β
Non-warrantable condo loans
Buildings with rental concentration, commercial space or pending repairs that conventional loans won't touch. Condo financing β
ITIN loans
For buyers who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number.
Recent credit event loans
Some programs allow shorter waiting periods after a bankruptcy, foreclosure or short sale than conventional and FHA loans do.
Program availability and terms vary by investor and change over time. We confirm what's available for your file when you apply.
Program finder
What's making your loan hard to get?
Pick the closest match for a first read on which program may fit.
We'll also check whether a conventional or government loan works, because those usually cost less.
"Non-QM isn't a last resort. It's the right tool when your paperwork doesn't match your real financial life, and in Sarasota that describes a lot of good borrowers."Chris Galli Β· Region Manager Β· Novus Home Mortgage Β· NMLS #13152 Β· Bradenton
For Sarasota, Bradenton & Lakewood Ranch agents
When the big bank says no, send us the file.
One call, every program
Self-employed, investor, condo or credit event: tell us the scenario and we'll tell you within one business day which program may fit.
Letters that explain the loan
Our pre-approval names the program and how income was documented, so the listing side isn't guessing.
Soften the rate
Non-QM prices higher. A seller-paid 2-1 buydown can lower year one. See the buydown page β
Get started Β· No hard credit pull
Tell us what's in the way. We'll match the program.
We'll call, ask a few questions and tell you which programs fit, including whether a lower-cost conventional loan works.
Rather talk now? Call (941) 529-1040 or book a call.
Quick answers
Non-QM loan FAQ.
What is a non-QM loan?
Is non-QM the same as subprime?
Are non-QM rates higher?
How much do I need down for a non-QM loan?
Can I refinance out of a non-QM loan later?
Do non-QM loans work for condos?
Do you offer non-QM loans in Bradenton and Lakewood Ranch?
Related
More ways we say yes.
Ready when you are
One call. A real answer.
Fifteen minutes with Chris or the team, no hard credit pull, and you'll know which program fits and what to do next.