Business owners
Schedule C, S-corp and partnership owners whose returns are reduced by legitimate deductions.
Non-QM · Florida self-employed
Bank statement loans in Florida, qualified on deposits.
For self-employed Floridians whose tax returns don't reflect real cash flow. Twelve or twenty-four months of bank deposits become your qualifying income.
How it works.
A bank statement loan is a non-QM residential mortgage that qualifies self-employed borrowers on business or personal bank deposits instead of tax returns and W-2s. Eligible deposits over 12 or 24 months are totaled, transfers and non-business items are removed, and an expense factor is applied to arrive at monthly qualifying income.
It fits Florida's large base of business owners, 1099 contractors, real estate professionals and seasonal or tourism-driven businesses whose deductions shrink taxable income. Programs may be available for primary residences, second homes and investment property, subject to program guidelines.
Florida property considerations. Condominium purchases may require a project review, and insurance and flood-zone costs can significantly change the qualifying payment. We include those costs at the scenario review, not at the end of the file.
Bank statement or DSCR? For a Florida rental, a DSCR loan that qualifies on the property's rent is often simpler. For a home you will live in, bank statements are one of the main alternatives to tax-return income.
Who it fits
Where this program does the most work.
1099 contractors
Consultants, trades and independent contractors with strong deposits.
Commission earners
Real estate agents and sales professionals with variable monthly income.
Seasonal businesses
Tourism and seasonal operators where a 12- or 24-month average reflects the full year.
Guideline snapshot
How a Florida bank statement file is reviewed.
- Statements
- 12 or 24 months of business or personal bank statements, by program
- Income method
- Eligible deposits less an expense factor, or a deposit analysis per program rules
- Occupancy
- Primary, second home and investment property may be available, by program
- Property costs
- Taxes, insurance, flood and HOA or condo dues included in the qualifying payment
- Credit, down payment & reserves
- Program-dependent — quoted for your scenario
- Rates
- Non-QM pricing generally above agency pricing; quoted per scenario
General ranges shown for orientation only. Guidelines, calculation methods, documentation, property eligibility, reserves, rates and terms vary by lender and program and are subject to change. This is not a pre-qualification, approval or commitment to lend.
Bank Statement Loans Florida FAQ
Questions borrowers ask.
What is a bank statement loan in Florida?
A non-QM residential mortgage that qualifies self-employed borrowers on 12 or 24 months of bank deposits instead of tax returns. Availability and terms are subject to program guidelines and underwriting.
Can I use personal or business statements?
Many programs allow either. Business statements typically use an expense factor; personal statements may count deposits more directly. The best fit depends on how your income moves.
Can I buy a Florida condo with a bank statement loan?
Often, but the condominium project may need to meet lender review requirements. We check project eligibility early.
Do bank statement loans have higher rates?
Non-QM pricing is generally above agency pricing. The difference depends on credit, down payment, reserves, occupancy and program, so it is quoted per scenario.
Are you licensed to lend in Florida?
Yes. Mike Keys (NMLS #2795829) originates in Florida with Clear Rate Mortgage (NMLS #2470446). Verify licensing at nmlsconsumeraccess.org.
Should a Florida investor use DSCR instead?
Frequently. DSCR qualifies on the property's rent instead of your income. We compare both for non-owner-occupied purchases.
Not sure which documentation path fits? That is the conversation.
Financing Provided Through
Clear Rate MortgageLicensed Mortgage Lender · NMLS #2470446
Mike Keys · NMLS #2795829 · Company NMLS #2470446
A boutique client experience, backed by a national lending platform.
- · Company licensed in 17 states
- · Broad portfolio of loan solutions
- · Experienced lending & operations team
- · Professional service from application through closing