Bank Statement Mortgage Lenders In Florida

Bank Statement Mortgage Lenders In Florida

Yes, you can mortgage your next Florida home using only bank statements for income. Self-employed borrowers, freelancers, and Florida business owners can qualify using 3–24 months of personal or business bank statements with no tax returns.  No Tax return florida mortgage lenders use your bank statements, 1099 to verify income, making homeownership options available for Floridians who are not W-2 employees.

Florida Bank Statement Mortgage Lenders

Bank Statement Mortgage Summary

Documentation Required: Use 12 months of average bank statements, deposits, personal, or business.
Income Calculation: Bank statement, Florida mortgage lenders’ average eligible deposits (personal), use 100% if deposits came from a business account, or up to 90% based on business type. Example: a realtor or insurnace agent with minimal expenses can use up to 90% of deposits for income qualifying. 
Standard Requirements:
Self-Employment History: Usually a minimum of 2 years.
Credit Score: Generally 600 or higher.
Down Payment: Typically 5%-10% or more, depending on credit score.
Eligible Borrowers: Self-employed, freelancers, contractors, gig workers, and business owners.

Cashout Refinance Using Bank Statements  

Yes, you can cash out or refinance a mortgage in Florida with no tax returns using bank statements for income. Even if you have not filed your tax returns, you can still refinance a mortgage in Florida using alternative income documentation options.  Buying a home in Florida is not easy if your income doesn’t fit into full doc W2,  tax returns, and 4506T. Many self-employed Florida mortgage applicants, real estate investors, retirees with assets, and even foreign buyers face roadblocks with traditional mortgages

No Tax  Return Bank Statement Mortgage

Bank Statement Florida Mortgage Lenders For Self-Employed In Florida

Bank Statement Mortgage Property Includes:

• Single-family home – No Tax Return Florida Mortgage Lenders
• Luxury Jumbo – No Tax Return Florida Mortgage Lenders  
• Townhouse- No Tax Return Florida Mortgage lenders 
• Manufactured home – No Tax Return Florida Mortgage Lenders  
• Co-op – No Tax return Florida Mortgage Lenders 
• Condotel  – No Tax Return Florida Mortgage Lenders 
• Investor Loans- No Tax Return Florida Mortgage lenders 

Florida No Tax Return Mortgage Alternatives:

• No Doc, No W2, No Tax Return – No tax return, no doc loan options.    
• Bank Statement Deposits – Bank statement mortgage lenders use your bank statement for income.       
• Self-Employed Less than 1 year – Qualify with less than 2 years in the same line of work. 
• VOE Only Mortgage – Verification of employment uses the employer VOE to qualify.
• Asset Depletion – Divide qualifying assets to qualify by averaging over 60 to 84 months.
• ITIN No Tax return mortgage – ITIN Florida mortgage lenders use ITIN to qualify.           
• Pledged Assets – Pledge assets in reserves for collateral.           
• DSCR Rental Income – Use the subject property income to qualify with no personal income to qualify.   
• Jumbo No Tax Returns – Jumbo Florida no tax return for large loan amounts over the conforming loan limits.          
• 1099 mortgage Lenders – 1099 mortgage lenders use 1099 with no tax returns required.        
• 3 Months Bank Statement – 3 3-month bank statement alternative income option to qualify. 

About Bank Statement Florida Home Loans 

Yes, it is still possible to find Florida mortgage lenders that offer No Income, No Job, No tax return, No W2, No 1099, No Doc, No paystub, NO IRS Transcripts, No Checking account, No Bank Statement, Florida mortgage lenders. For example, our Florida bank statement mortgage lenders will allow you to average 3 or 12, or 24 months of bank statement deposits as long as you have been in the same line of work for almost 2+ years.. These bank statements, Florida mortgage lenders can be a great option for cash businesses or self-employed contractors that have been in business for less than 1 year self employed mortgage applicants who cannot show enough income, and/or have NOT yet filed their Tax returns. 

4C No Tax Return Mortgage Checklist

1. Cash Down Payment –Min 500 credit score with 5-10% down. 580+ 5% Down. The better the credit, the lower the downpayment requirement. The seller can pay up to 6% closing costs
2. Credit – 500+ credit score – based on payment history, not credit score, No Credit/Score OK
3. Capacity – Max DTI 50-55% based on credit score.
4. Collateral – Single-family homes, multi-family 2-4 units, townhomes, villas, condos, manufactured, modular homes, commercial, mixed-use.