A bank statement lenders provide a unique financing program that allows self employed Florida mortgage applicants to use 12 or 24 months bank statements for income instead of showing tax returns. This loan benefits Self employed Florida small business owners, 1099, gig workers across the state. Bank Statement Florida mortgage lenders have become increasingly popular because of their flexibility in showing proof of income without and less red tape income requirements of Fannie Mae or freedie mac. The no tax return Florida bank statement only loans carry a greater risk for the Florida mortgage lender which can sometimes reflect in higher interest rates, then Goverment or conventional Florida home loans.
Bank Statement Mortgage Loans Provide Advantages!
There are a few advantages to this loan program including the flexibility, which the lender gives the borrower. The lender uses the bank statements to qualify a loan based on the amount of money one makes and how reliable one is when repaying loans. Another advantage to this loan program is that no tax returns are needed in order to qualify. Lenders have discovered that tax returns do not always show an accurate amount of income made due to tax reductions.
No Tax Return Florida Bank Statement Mortgage Lenders
Typically lenders require detailed tax returns to determine a borrowers lending worthiness. Small business owners and self-employed people can use this loan program to their advantage. It was discovered that tax returns do not necessarily reflect your true income. Self-employed persons can take advantage of the tax deductions, hence reducing their taxable income and Uncle Sam does not have to empty their pockets during tax time.
Apply for a Florida Bank Statement Mortgage Loan To Purchase Or Refinance
If you are thinking about utilizing a bank statements for income to to purchase a home, we highly recommend the above benefits.
Apply for a Florida Bank Statement Mortgage Lenders Serving All Florida
- Florida-Bad Credit Bank Statement Only Jumbo Mortgage Lenders
- Florida No Income Verification Mortgage Lenders
- FLORIDA NO INCOME VERIFICATION MORTGAGE LENDERS
- NO INCOME VERIFICATION FLORIDA MORTGAGE LENDERS
- NO TAX RETURNS FLORIDA MORTGAGE LENDERS
- NO INCOME VERIFICATION COMMERCIAL FLORIDA MORTGAGE LENDERS
Florida Bank Statement Mortgage Lenders Coverage Areas