Non-QM loans let you qualify with the proof of income you actually have: your rental income, your bank statements, your 1099s or a CPA-prepared profit and loss statement. They work for self-employed borrowers, contractors and real estate investors whose tax returns don't show the full picture. From our office in Flagler Beach, FLO Mortgage arranges non-QM loans across Florida and Georgia, and in Michigan, North Carolina, Tennessee and Texas.
How do you earn your income?
Run your numbers
A quick estimate. Your loan officer confirms the real figures.
Estimated DSCR
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Fill in the boxes above, including a rate to test.
Estimated qualifying income
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Per month, after the expense factor.
Estimated qualifying income
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Per month, after the expense factor.
Estimate only, for education. Not a Loan Estimate, an offer or a commitment to lend. Each investor program sets its own expense factor, minimum ratio and other rules. FLO Mortgage, Company NMLS #1835856. Equal Housing Opportunity.
Compare the four programs
| Program | Best for | How you prove income | Property types |
|---|---|---|---|
| Bank statement → | Self-employed borrowers and business owners | 12 or 24 months of personal or business bank statements | Primary home, second home or investment |
| 1099 → | Independent contractors, commissioned and gig workers | 1099 forms for one or two years, plus proof of recent income | Primary home, second home or investment |
| Profit and loss → | Self-employed borrowers who work with a CPA or tax preparer | A signed profit and loss statement, sometimes with bank statements | Primary home, second home or investment |
| DSCR → | Real estate investors | The property's rent, with no personal income verification | Investment property only |
What non-QM means
A qualified mortgage, or QM, follows a set of federal rules that most conventional and government loans use, including standard income documents like tax returns and W-2s. A non-QM loan falls outside those rules, so it can use other proof of income. For a home you'll live in, the lender still has to confirm you can repay the loan under the federal ability-to-repay rule.
Non-QM loans aren't government-backed, and many programs ask for a larger down payment and more reserves than a conventional loan.
What every program still checks
- Credit. Each program sets its own minimum score and reviews your history.
- Time in business. Income programs usually look for two years of self-employment or the same line of work.
- Appraisal and reserves. The lender orders an appraisal, and most programs want savings left after closing.
Non-QM loans in Florida and Georgia
Florida
We lend statewide, from Pensacola to the Keys. Condo approval and wind and flood insurance come up often, so we price them into your numbers early. Investors: see DSCR loans in Florida.
Georgia
We lend from metro Atlanta to Savannah. A Georgia attorney handles your closing, and the intangible recording tax applies to the new loan. Investors: see DSCR loans in Georgia.
Also licensed in Michigan, North Carolina, Tennessee and Texas. Bank statement, 1099 and profit and loss loans are available in all six states. DSCR loans for investment property reach more states. See the DSCR state map.
Common questions
What is a non-QM loan?
A non-QM loan is a mortgage that falls outside the federal qualified mortgage rules. It can use bank statements, 1099s, a profit and loss statement or a property's rent to qualify you instead of tax returns and W-2s.
Can I get a mortgage if I'm self-employed and my tax returns show low income?
Yes. Bank statement, 1099 and profit and loss programs figure your income from deposits or business records, which often reflect your real earnings better than a tax return after write-offs.
Which is better, a bank statement loan or a P&L loan?
It depends on your records. Bank statement loans work when your deposits tell the story. P&L loans work when a CPA or tax preparer can sign a statement of your business income. A licensed loan officer can run both.
Are non-QM loans only for investors?
No. Bank statement, 1099 and profit and loss loans can finance a primary home, a second home or an investment property. DSCR loans are the one program limited to investment property.
Do non-QM loans still verify my income?
Yes, for bank statement, 1099 and profit and loss loans. They verify it with different documents. DSCR loans are the exception: they qualify on the property's rent, with no personal income verification.
Which states do you offer non-QM loans in?
Bank statement, 1099 and profit and loss loans are available in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas. DSCR loans for investment property are available in more states.
See which program fits you
Tell us how you earn your income, and a licensed loan officer will match you to the right non-QM program. Prefer to talk? Call (386) 882-9980.
This page is general education, not a commitment to lend or an offer of specific terms. Non-QM loans are offered through investor programs. They are not government-backed and are not qualified mortgages, and their terms and costs differ from conventional loans. All loans are subject to credit approval, income and asset verification where required, appraisal, underwriting guidelines, property eligibility and program availability. Not all applicants will qualify. DSCR loans are business-purpose loans for investment property only. FLO Mortgage is licensed as a mortgage lender in Florida (MLD2621) and Georgia (#1835856), Company NMLS #1835856; Broker Owner Joy McCoy Flores, NMLS #1096400. Equal Housing Opportunity. Licensing & Disclosures · NMLS Consumer Access.