FLORIDA BANK STATEMENT 1099 FLORIDA MORTGAGE LENDERS DETAILS INCLUDE:
- 2 Years Self Employed Required!
- Bank statement deposits used to qualify!
- No tax returns required!
- 12 months personal bank statements (Personal and Business)
- Loans up to $3 million
- Credit scores down to 500
- Low-Interest Rates
- Up to 90% LTV
- DTI up to 55% considered
- Owner-occupied, 2nd homes, and investment properties
- 1 years seasoning for foreclosure, short sale, BK, DIL
- Non-warrantable condos considered
- Jumbo loans down to 600 score
- 5/1 ARM or 30-year fixed
- No pre-payment penalty for owner-occ and 2nd homes
- SFRs, townhomes, condos, villa 2-4 units
- Florida Seller concessions to 6% (2% for investment)
- 80% Florida Cash Out Refinance with No Tax Returns!
- Florida-Bad Credit Florida Bank Statement Florida NO Tax Return Only Jumbo Mortgage Lenders
- Florida Florida NO Income Verification Mortgage Lenders
- Florida NO INCOME VERIFICATION FLORIDA MORTGAGE LENDERS
- Florida NO TAX RETURNS FLORIDA MORTGAGE LENDERS
- Florida NO INCOME VERIFICATION COMMERCIAL FLORIDA MORTGAGE LENDERS
- Florida NO TAX RETURN FLORIDA LAND LENDERS USE Florida Bank Statement Florida NO Tax Return FOR INCOME!
If you’re self employed in Florida bank statement mortgage lenders seeking a Florida mortgage can be difficult if you write off most of your income. Here’s what you need to know if you’re looking to qualify for a Florida bank statement mortgage lenders without providing your last 2 years tax returns required by Florida banks and mortgage mortgage lenders.
Not all banks and Florida bank statement mortgage lenders will require tax returns for getting a mortgage. If you are self-employed in Florida and it is your goal to use your self-employment income to qualify for bank statement mortgage lenders in most cases you will have to provide either (2) two years of tax returns or one year of income tax returns if you have been in business for at least 5 years.
If it is your desire to try to qualify for a Florida mortgage without providing tax returns without meeting mentioned items you you will need to apply for Bank Statement only loan. Your other option maybe to pay off debt or obtain a co-signor if you do not show enough income
If you are a W-2 employee and you don’t receive social security or rental income and you do not have any other side businesses you need not worry about providing your tax returns to Florida mortgage qualify. Supplying your last 2 years w2s and your most recent 30 days of pay stubs will work instead of tax returns. Fannie Mae and Freddie Mac, FHA, VA will allow w2 only and pay stubs without the last 2 years tax returns. However the Florida mortgage lender may still require IRS 4506T.
How do I qualify For A Florida NO Tax Return Florida Bank Statement Mortgage Lender!
- You be Self Employed for at least 1+ years.
- Must be Self Employed for at least 1+ years.
- Florida NO tax returns
- Use up to 80% of Deposits for income!
- 15% Down Payment Purchase or Refinance up to 80% LTV
- Up to $3,000,000 Loan Amounts.
- Minimum Loan Amount $200,000.
- Purchase or Refinance cash out or rate and term.
- Primary and second homes only.
- Florida NO PMI mortgage insurance..
- 30 Year Fixed or ARM Rates.
- 24 Months Florida Bank Statements Personal or Business OK
If you are self-employed, 1099 contract worker, business owner, consultant, or entrepreneur with plenty of bank deposits then we can help you get approved for a Florida mortgage. You do Florida NO t have to submit any tax returns or financial statements other than your Florida Bank Statement Florida NO Tax Returns. Self employed mortgage applicants must prove that they have been in business for 2+ years to purchase a new home or to cash-out refinance.
What is a Florida Bank Statement Florida NO Tax Return Mortgage Lenders?
Florida Bank Statement Florida NO Tax Return loans have taken over the traditional Florida Bank Statement Florida NO Tax Return income loans as an alternative for self employed Florida mortgage applicants who are unable to verify their income by providing the previous two years tax returns, W2s and pay stubs. These loans are called Florida NO n-QM loans, Florida NO ntraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a Florida Bank Statement Florida NO Tax Return loan allows the borrower to verify his or her income with Florida Bank Statement Florida NO Tax Returns
Eligible for a Florida Bank Statement Florida NO Tax Return loan:
- You must prove self-employment for a minimum 2 years.
- Must provide proof of 12-month rental history or and 3-6 months future payments in reserves.
- You must have at least 10% down.
- You must have 4-6 months of PITI reserves
- You may qualify with as little as a 12-months Florida Bank Statement Florida NO Tax Return.
- You must have a credit score of 600 or above to qualify.
- The minimum loan amount is $100,000, and the maximum loan is $5,000,000.
What Documents Do I need for a Florida Bank Statement Florida NO Tax Return only Mortgage?
- Proof of income = Your most recent 12- or 24-months Florida Bank Statement Florida NO Tax Returns Business or Personal Florida Bank Statement Florida NO Tax Returns EVERY PAGE EVEN BLANKS in PDF labeled by month.
- PDF proof of down payment statement= 2 Months Florida Bank Statement Florida NO Tax Returns to source funds..
- Proof of 2 years in the same business or line of work = To include business licenses or satisfactory evidence of self-employed to cover previous 24 months that could include: Articles of incorporation, 2 years of 1099 s, Business license more than 2 years or accountant letter stating more than 2 years in the same business.
- Obligations = Divorce decree, Child support or court order required payment statements. Only if applies.
- ID = Driver’s license, SS Card.
- Mortgage Statements = For rental properties including taxes and insurance statements. Only if applies.
- W2 or 1099= If you have separate W2 or 1099 income you would like to use to qualify please provide.
- Purchase and Sale Contact. Only if you have one.
- Verified Timely Rent Payments- For Purchases Only - Please send front and backs of checks clearing your account or wire transfer’s for the most recent 12 months to verity timely rental payments.
What Are the Advantages of a Florida Bank Statement Florida NO Tax Return Loan?
In summary, these are the advantages of a Florida Bank Statement Florida NO Tax Return loan:
- The lender can look at 12 or 24-month Florida Bank Statement Florida NO Tax Returns.
- 30 Year Fixed Options.
- Florida Bank Statement Florida NO Tax Return only mortgage lenders do Florida NO t need to look at your tax returns.
- Your income statements are made up of the average monthly income deposits.
- You can get a Florida Bank Statement Florida NO Tax Return home loan for as little as 10 percent down.
- You can do a cash-out refinance.
- You can borrow up to $5 million.
- Debt to income ratio up to 55 percent.
Eligibility Requirements for a Florida Bank Statement Florida NO Tax Return Mortgage Loan?
Eligibility for a Florida Bank Statement Florida NO Tax Return requires total deposits minus disallowed deposits. This amount is then divided by the number of Florida Bank Statement Florida NO Tax Returns, whether it is the 12 or 24 months statement.
A Florida NO tax return mortgage loan option is that if the co-borrower is a W2 employee you can use a hybrid of W2 and tax return income from the co-borrower and Florida Bank Statement Florida NO Tax Return income from the borrower or assets from the co-borrower and Florida Bank Statement Florida NO Tax Returns from the borrower. Florida NO n-QM loans can use multiples sources of blended incomes to qualify.
Deposits which are disallowed in regards to a Florida Bank Statement Florida NO Tax Return loan include transfers between bank accounts and cash or large deposits, which can raise a level of concern and may require a letter of explanation.
Special Considerations By Florida Bank Statement Florida NO Tax Return Mortgage Lenders
- You can use either business or personal Florida NO commingling.
- Use 12 months business bank account or personal account depending on the lender.
- Deposits which are transferred from a business account into a personal account are OK.
- You may combine W2 income with Florida Bank Statement Florida NO Tax Return income as long as the income is Florida NO t being counted twice.
- Foreign Florida Bank Statement Florida NO Tax Returns and Foreign Assets may be considered and must be translated to English.
The Florida Bank Statement Florida NO Tax Return Loan Application Process
To apply for a Florida Bank Statement Florida NO Tax Return loan you would fill out our full mortgage application. Then provide your last 12 or 24 months’ worth of Florida Bank Statement Florida NO Tax Returns from a personal or business bank account. Florida Bank Statement Florida NO Tax Return mortgage loans are processed through a manual underwriting process. This means the income is calculated by a person so the process can take 24 -48 hours.