Specialty Loans
Non QM and portfolio loans in Maine and Florida
When a standard mortgage does not fit the way you earn, hold assets, or use a property, a specialty program may be worth reviewing. I compare available wholesale options for your file.
Travis Penny, Mortgage Broker, NMLS 1649161, Vision Mortgage, LLC NMLS 1286953. NMLS Consumer Access
Last reviewed September 29, 2026
What is a non QM mortgage?
A non QM mortgage uses qualifying guidelines outside the standard conventional mortgage framework. Portfolio programs may also have their own underwriting rules. They still require a review of credit, repayment ability, assets, and the property. A mortgage broker can compare programs, but approval depends on the specific file.
All loans are subject to credit and underwriting approval. Not all applicants will qualify. Program terms and availability can change. This page is for general education and is not a loan offer or a commitment to make a loan. Travis Penny, NMLS ID #1649161, is a mortgage broker with Vision Mortgage, LLC, NMLS #1286953. Equal Housing Opportunity.
Different documentation
Some programs consider deposits, contractor income, assets, or property rent.
Property matters
Occupancy, building type, and intended use determine which options are relevant.
Compare the whole loan
Specialty pricing is generally higher than conventional pricing because of different underwriting and investor requirements.
How specialty loans differ from conventional
A conventional loan follows agency underwriting guidelines. A non QM or portfolio program can use different documentation or property guidelines, but it is not a way around underwriting. Credit, assets, repayment ability, and property review still matter. Non QM pricing is generally higher than conventional pricing because investors take on a different risk and documentation profile. I compare the full terms before recommending a path.
Income and asset options
Bank statement loans review eligible deposits. 1099 mortgages may use documented contractor earnings. Profit and loss statement only programs may be available under specific guidelines and require a review of the business and supporting documentation. Asset depletion may help a client whose documented assets are more useful for qualification than regular paychecks.
What is a P&L mortgage?
A P&L mortgage loan considers a profit and loss statement as an income document for a self employed client. I review how the business earns money and compare this path with other documentation. A P&L based mortgage loan is not an approval based on a single sheet.
Who prepares the statement
A P&L statement for a mortgage may be prepared by a CPA or tax preparer. Some programs ask for an audited P&L for a mortgage while others have different preparation rules. I check the program before asking you to commission one.
What else is reviewed
Supporting statements, a business license or other proof of business activity, credit and reserves can all matter. A P&L only path and a P&L plus bank statements path are different P&L mortgage programs. Neither bypasses the rest of the file review.
How I compare programs
As a mortgage broker, I compare the records each program accepts for clients whose business expenses complicate a standard return. The P&L loan mortgage might fit, but bank statement loans or a 1099 mortgage may be simpler for a different set of records.
Investor and international buyer options
DSCR financing evaluates a rental property's income for a business purpose loan. Foreign national programs may be available for eligible buyers whose income and assets are documented outside the United States. Property, residency, and program requirements vary, so I check the applicable guidelines rather than assuming one solution fits every buyer.
Foreign national mortgages
An eligible buyer whose income or assets are outside the United States may need different documentation from a domestic buyer. I review the property, available asset records, and the applicable program guidelines for purchases in Maine or Florida.
Looking for portfolio lenders near you?
I am a mortgage broker with Vision Mortgage licensed in Maine and Florida. I can compare available wholesale and portfolio options for a property in either state. Tell me where you are buying and how your income or assets are documented, and I will help identify which programs are worth reviewing.
Discuss your scenario
Call or text me at (207) 615-7770, or email Travis@travis.mortgage. Guidelines can change, and I confirm the current terms for each file.
Frequently asked questions
What does non QM mean for a mortgage?
It refers to a mortgage outside standard qualified mortgage guidelines. The program still reviews repayment ability, credit, assets, and the property.
Is a portfolio loan the same as a conventional loan?
Not necessarily. A portfolio program can use its own underwriting rules, while conventional agency loans follow established agency guidelines.
Do specialty loans cost more than conventional loans?
Pricing is generally higher because the documentation and investor risk differ. I compare the full payment and costs for your file without relying on a generic quote.
Can self employed clients use bank statements or 1099 forms?
Some programs accept eligible deposits or documented contractor income. I review the records and program requirements before suggesting an option.
Are DSCR loans available for rental property?
DSCR programs can evaluate a qualifying rental property's income for a business purpose loan. The rent, full payment, and property rules need review.
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