Bank Statement Loan Programs for Self-Employed Floridians
For self-employed Floridians, bank statement mortgages can be the difference between owning a home and watching the market move without you. If your tax returns understate the cash you actually bring in because you’re writing off legitimate business expenses a traditional mortgage underwriter will tell you your income doesn’t qualify. A bank statement loan in Florida can flip that calculation around. BankStatementMortgage.com is headquartered in Hollywood, Florida, and we built our business around this kind of borrower.
How a bank statement loan works with us in Florida?
A bank statement loan in Florida uses 3, 12, or 24 months of deposits personal or business to calculate your qualifying income, rather than the adjusted gross income on your tax returns. The cash flow that funds your life is what counts, not what’s left after deductions.
This is a non-qualified mortgage (non-QM) product. The underwriting still looks at credit, reserves, and debt-to-income but the income side is calculated differently. For most self-employed borrowers in Florida, the qualifying number works out significantly higher than what shows up on a traditional W-2-based application.
Who qualifies through BankStatementMortgage.com?
Our loans are designed for self-employed Floridians whose income doesn’t match a traditional underwriting box. That includes:
• Sole proprietors, LLC owners, and S-corp shareholders
• 1099 contractors and freelancers
• Real estate agents and brokers
• Restaurant and hospitality owners
• Healthcare professionals running their own practice
• Construction contractors and trade business owners
• Gig workers, consultants, and online business operators
• Real estate investors and landlords
• ITIN holders investing in Florida property
You don’t need to own 100% of the business. You don’t need a W-2 anywhere in your file. You do need credit, a reasonable down payment, and bank statements that show consistent deposits.
Frequently Asked Questions (FAQs)
Are bank statement loan rates higher than conventional mortgages?
Yes. Non-QM products, including bank statement loans typically carry rates above conventional Fannie/Freddie-backed mortgages — the spread depends on credit, LTV, and which program you're in. For most self-employed borrowers, the trade-off makes sense: a slightly higher rate on a loan you can actually qualify for beats a lower rate on one you can't.
Can I combine personal and business bank statements?
In most cases, yes, though the program terms vary. The 24-month program accepts either personal or business statements; the 3-month program weighs them differently (100% of personal deposits, 50% of business). We'll work out the right mix based on which account actually reflects your income most accurately.
Do I need to provide any tax returns at all?
No. The whole point of the program is that we don't ask for tax returns or W-2s — your income is verified through the bank statements. Some borrowers offer their tax returns anyway out of habit; we don't need them, and they don't affect the qualifying calculation.
Can I use a bank statement loan for a vacation home in Florida?
Yes, second home and investment property purchases are available across most of our programs. The 3-month program is the only one limited to primary residences — for a Florida vacation property, the 12-month or 24-month programs are the usual fit, with cash-out refinance available on each.