Central Florida's tourism and service economy supports a lot of self-employed workers whose tax returns don't tell the full story — here's how Non-QM loans fill that gap.
By Ryan Kennedy, NMLS #1434300 · Orlando Mortgage Broker, Icon Mortgage Group
If you're self-employed, a 1099 contractor, or run a small business in the Orlando area, you've probably run into a frustrating reality: your tax returns show a lot less income than you actually bring in, because of legitimate business deductions. Non-QM loans are built to solve exactly that problem.
Instead of tax returns, a bank statement loan qualifies you using 12-24 months of business or personal bank statement deposits — often a much more accurate picture of your real cash flow.
Some Non-QM programs will qualify a borrower off a CPA-prepared profit & loss statement alone, without requiring full tax returns.
Built for contractors and gig workers, these programs use 1099 income directly rather than requiring two years of tax returns.
For borrowers who don't want to document income at all, some Non-QM programs skip income documentation and debt-to-income calculations entirely — typically requiring stronger credit or a larger down payment in exchange.
Central Florida's tourism, hospitality, real estate, and service industries support a large population of self-employed professionals and contractors. Non-QM programs let us qualify you off what you actually bring in — not just what shows up after deductions.