Florida Stated Florida Mortgage Lenders Starting @ 5.125% note rate for 30 term Florida Stated Florida Program. From 65% with a 500+ up to and investment properties too. Cash out available. No 4506T. No tax returns. No W2s. No 1099s. We use 100% of deposits for income qualification + Unaudited P and L to determine qualifying income.
We Have Several Different Florida Stated Florida Mortgage Programs To Choose your income:
- Use Business or Personal Bank Statements for the last (24 months all pages) use 100% of the deposits for personal accounts.
FLORIDA BANK STATEMENT ONLY MORTGAGE LENDERS ARE BACK!
The Florida bank statement mortgage is back! These bank statement only loans are perfect for the self-employed borrower that takes advantage of the allowable deductions that IRS allows many self-employed Florida businesses. For years since the mortgage meltdown Florida self-employed borrowers were stuck with a bad choice to either pay more taxes and possible qualify for a full documentation loan or take the deductions they were eligible for reducing their taxes, but also reducing their income potentially reducing their ability to borrower for a Florida mortgage.
Alternative Florida Bank Statement only documentation such as the Florida bank statement mortgage and Florida Stated income mortgage performed just fine for a long period when they were underwritten well and used by high credit, relatively high net worth Florida self-employed business owners with skin in the game. In the past Florida Stated income/alt doc began to be used for W-2 (in other words salaried borrowers with verifiable pay stubs) borrowers with lower credit and very little if anything down. These loans predictable performed very poorly as they were basically “liar’s” loans. Why would you need to “state” your income if you had a pay stub?
But, these Florida Stated income and Florida bank statement mortgage products have a place in the market place. Just as they were intended the Florida Stated income and bank statement jumbo mortgage products that provide are for self-employed borrowers only. They do demand at least 10% down payment is required with a lot of scenarios more including 30% down for the “Florida Stated” programs, and have reserves left over after closing payment and of course have relatively high credit scores.
FLORIDA STATED BANK STATEMENT ONLY MORTGAGE INFO LINKS