How Do I Get a Florida Mortgage NO Tax Returns?

Florida Bank Statement Mortgage Lenders – No Tax Return Florida Mortgage Lenders -Florida Self Employed Mortgage

How do I get a Florida mortgage without providing Tax Returns?

Bank statement loans have taken over the traditional Bank Statement 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 non-QM loans, nontraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a bank statement loan allows the borrower to verify his or her income with bank statements instead of using tax returns!

What Documents Do I Need For A No Tax Return Florida Mortgage?

  • Proof of income = Your most recent 12- or 24-months bank Statements Business or Personal bank statements EVERY PAGE EVEN BLANKS in PDF labeled by month.
  • PDF proof of down payment statement= 2 Months Bank Statements 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 Does The No Tax Return Loan Application Process Look Like?

To apply for a bank statement loan you would fill out our full mortgage application. Then provide your last 12 or 24  months’ worth of bank statements from a personal or business bank account. Bank statement 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.

Am I Eligible for a loan with No Tax Returns? What is Required?

  • 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 bank statement.
  • 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 Are the Advantages of a Bank Statement mortgage Loan?

In summary, these are the advantages of a bank statement loan:

  • The lender can look at 12 or 24-month bank statements.
  • 30 Year Fixed Options.
  • Bank statement only mortgage lenders do not need to look at your tax returns.
  • Your income statements are made up of the average monthly income deposits.
  • You can get a bank statement 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.

What Are The Eligibility Requirements for a Bank Statement Mortgage Loan?

Eligibility for a bank statement requires total deposits minus disallowed deposits. This amount is then divided by the number of bank statements, whether it is the 12 or 24 months statement.

Another 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 bank statement income from the borrower or assets from the co-borrower and bank statements from the borrower. Non-QM loans can use multiples sources of blended incomes to qualify.

Deposits which are disallowed in regards to a bank statement 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.

Are There Any Special Considerations By Florida Bank Statement Mortgage Lenders?

  • You can use either business or personal 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 bank statement income as long as the income is not being counted twice.
  • Foreign Bank Statements and Foreign Assets may be considered and must be translated to English.


If you’re self employed in Florida 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  mortgage without providing your last 2 years tax returns required by Florida banks and mortgage mortgage lenders.

Not all banks and Florida 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 Florida mortgage 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 MacFHAVA  will allow w2 only and pay stubs without the last 2 years tax returns. However the Florida mortgage lender may still require IRS 4506T.



  • 10% Down with a 660 & 15% Down with a 600 Score!
  • No tax returns Needed! Proof of 2 years self-employed!
  • Owner-occupied, 2nd homes and investment properties.
  • Loan Amounts From $150,000 to $3,000,000.
  • 12 months personal or 24 months business bank statements
  • Debt to income up to 50% considered.
  • Choose either a 5/1 and 7/1 ARM’S and/or 30-year fixed.
  • No prepayment penalty for owner-occ and 2nd homes
  • Seller paid closing cost allowed up to  6%. 
  • Business Bank Statement Expense Ratio Options Include:
  • 4 Different Options For using Business Bank Statement Only!
1) 3 MONTH BUSINESS STATEMENTS (24 Mo. Tax Preparer P&L)
2) BORROWER PREPARED P&L (24 Mo. Business Statements)
3) 24 MONTH BUSINESS STATEMENTS (Tax Preparer Expense Letter)
3) 24 MONTH BUSINESS STATEMENTS (50% Of gross income used No questions asked)

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