Miami Florida Condo Mortgage Lenders

No Tax Return FHA Mortgage Lenders 

Our Florida FHA mortgage lenders DO NOT require tax returns. For our FHA mortgage Approvals, Tax returns are ONLY required if commission or bonus income exceeds 25% of your total income or if you own rental properties. However, if your commission or bonus income is 25% or less, and you are a W-2 employee, you will not need to provide tax returns. Lenders typically require documentation like pay stubs and W-2 forms to verify income

Florida No Tax Return Condo Mortgage Options

• No Doc, No W2, No Tax Return = OK         Bank Statement Deposits = OK            Jumbo No Tax Returns = OK
• Home Loan No Tax Returns =OK                1099 mortgage Lenders = OK              3 Months Bank Statement = OK
• Self-Employed Less than 1 year = OK         VOE Only Mortgage  = OK                  Asset Depletion = OK
• ITIN No Tax return mortgage = OK              Nonresident No Tax Return = OK          Pledged Assets = OK
• Asset Depletion or Pledged = OK                Business Profit Loss = OK                   DSCR Rental Income = OK

3.5% FHA Mortgage Minimum down payment

The Federal government insures private Florida FHA mortgage lenders against loss, which provides homebuyers with the opportunity to purchase with minimal cost. The FHA mortgage has a minimum 3.5% down payment that can come from a gift, grant, or FHA-approved lender. FHA also allows the Florida home seller to pay up to 6% of all the closing costs.

Payment History For FHA

Prequalifying for a Florida FHA home loan is rather easy if you pay your bills on time. Because it’s the FHA that insures your home loan, the creditors and lending institutions make it feasible for anybody to qualify when they meet the basic requirements. The primary components of qualifying are the history of credit, earnings, and employment history.

Debt-to-Income Ratio

FHA mortgage lenders’ standard max debt-to-income ratio is 31/43 if your credit score is under 580. Some lenders will go up to 47/57 with excellent credit and reserves.

Collateral FHA Requirements

FHA mortgage will work for Single-family homes, multi-family 2-4 units, townhomes, villas, FHA-approved condos, manufactured, modular homes, and FHA-approved condos. The home must be available, habitable, and meet FHA/HUD minimum property standards. 

Pre-Approval Process For FHA Mortgages

APPLY NOW on the top right of this page.  The FHA mortgage loan originator will call you to verify your mortgage application accuracy. The general loan documents needed to review your application include ID, W2, paystubs, and bank statements. If you’re self-employed or own a rental property, we need 2 years’ tax returns, business and personal returns.