NO DOC STATED INCOME FLORIDA MORTGAGE LENDERS
How Do Florida Self Employed Mortgage Lenders Work?
For primary homes, the federal law requires Florida Mortgage Lenders to verify your ability to make the mortgage payments. In lieu of tax returns, k-1’s, or 1099’s the Florida self-employed Mortgage Applicants can qualify with business earnings deposited into a business (24 months) or personal (12 months) bank account. These deposits will become the base qualifying income in lieu of traditional income documentation. Seasonal fluctuations to earnings that are normal to a given business are expected and allowed.
For Lease Option to Purchase Rent To Own Florida transactions executed >12 months ago Florida mortgage lenders can use the CURRENT/TODAYS appraised value. This means any appreciation increase in value between the sales price and the appraised value is passed to the buyer as equity or down payment and thus minimizing out of pockets costs.
Florida Self Employed Jumbo Mortgage Lenders Key Points
- 600 Minimum MID FICO score required
- 10% down payment requires 660 MID-FICO score
- 15% down payment or greater requires 600 MID-FICO scores.
- Bank Statment Only Mortgage Lenders Maximum Loan Amount- $3,000,000
- Purchase or Refinance or Cash Out Refinance with up to $500,000 cash out.
- Self Employed can qualify using 24 Months business or 12 months personal statements.
- We also have a true “Stated Income” available for Investment properties only.
- Must be self-employed for at least 24 months for bank statement qualifier.
- We can combine income from w-2 Self-employed mortgage applicants with a Self-Employed co-Self employed mortgage loan applicants.
- Primary Residence – Investment – 2nd/Vacation Home all O.K.
- No Manufactured or Mobile Homes or Commercial Property
- New Builder Homes OK but NO “construction loans” available.
- Available in 30 Year Fixed Rate and 5/1 ARM products.
- No Pre-Payment Penalties and No PMI for primary and 2nd homes including 90% LTV.
- Special Product options for “lease option to purchase” transactions. See below for more details
| Jumbo Florida Bank Statment Only Mortgage Lenders General Requirements |
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- do-i-need-rental-history-to-qualify-for-a-bank-statement-only-mortgage
- Whats the minimum credit score for a bank statement only loan?
- How is income calculated for your bank statement only mortgage loan program?
- How long do I have to prove self-employed to qualify for your bank Statement only loan program?
- Whats your minimum loan amount for a bank statement only mortgage loan?
- how long does it take to get a Pre Approval letter on a Bank Statement the only mortgage?
- what-if-im-self-employed-but-can not-prove-i-have-been-in-business-for-at-least-2-years
- What deposits have NOT used the qualify using bank statements only for income?
- Can i deposit money into more than 1 bank account and still qualify the income?
- how-much-of-a-down-payment-do-i-need-for-a-bank-statement-only-loan
- How long does it take to qualify and close on a bank statement the only loan?
SELF EMPLOYED MORTGAGE LENDERS PAGES
SELF EMPLOYED FLORIDA MORTGAGE LENDERS
Florida self–employed mortgage lenders want to be sure you can afford your mortgage and for the self–employed that requires some extra paperwork.
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12 or 24 Month Florida Bank Statement Home Loan Program.For Florida Self Employed. Florida Bank Statement Only (Personal or Business). No Tax Returns
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… home financing, being that self–employed Florida mortgage applicants have a complex way of documenting income. … No Reserves; Up To 75% LTV; $2,000,000 loan amounts; Interest Only payment … NAPLES FL MORTGAGE LENDERS.
