BANK STATEMENT LOAN PROGRAMS FOR SELF-EMPLOYED BORROWERS

Self Employed Home Purchase and Refinance Options using Bank Statement Deposits to
establish Your Monthly Qualifying Income.
The facts are that most Self-Employed would agree that their tax returns don't really show their true
income as many tend to write off many expenses over that a W-2 wage earner. As a result, your net
taxable income (after deductions) disqualifies you for a traditional home purchase and/or refinancing
options.
Who can apply?
This program is available to Business owners, 1099 Contractors, Sole proprietors, Professional
Associations, Corporations, LLC’s, and wage earners who recently changed their tax status from W-2 to
1099 Self-Employed 12 months ago or more
Qualifying Income ?
We convert your qualifying income using bank statement (personal or business) deposits dating back
from the last statement received.  Basically, you provide us with your last 12 months of personal or
business bank statements. However, you will need to prove that you have been self-employed for 24
months. 
Acceptable Properties:
Single family homes, townhomes, condos, condotels, duplex, triple or four-plex all qualify on various
programs. Property usage can be as a primary residence, second home, vacation Home or rental
investment properties. 
®
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all of Florida offering over 48 loans programs including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans,   to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more.  * No broker or lender fees are for FHA,VA, USDA and Conventional loan types          Main Office: 2151 Consulate Dr. * Suite 8 *  Orlando, FL., 32837  * Telephone (800) 655-1345 * (407) 300-2558 * Fax (877) 401-9955 We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106 When Banks Say No !  We Say YES !  ®  is a registered trademark owned by 1st Florida Lending Corp.
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1st Florida Lending Corp
Florida's Direct Lender
When Banks Say NO! We Say YES!
Disclaimer:  All Loan programs, rates and terms can change without notice and are subject to credit and underwriting approval.  Loan charts highlight min/max constraints, assumptions & random scenarios only. We will always work hard to approve your loan but there are no guarantees of any kind expressed or implied that your loan we be approved. © 2007 - 2018 1st Florida Lending Corp. - All rights reserved  I  Privacy Policy  I  Terms of Use  I  
We offer 14 Bank Statement Mortgage Options ( the most programs of any
Lender in Florida) and have listed a compressed snapshot highlighting a
summary of features. 
Highlight of our Bank Statement Loan Program
Business bank statements and personal bank statements permitted
Borrower does not have to be 100% owner of the business
Business expense ratio as low as 0% for personal
Business expense ratio 10% for business bank statements
Up to 90% LTV
Tax Returns or 4506 not required to qualify
No MI and No Prepayment Penalty
P&L statements NOT required on most programs
30 year Fixed and 5/1 and 7/1 ARM’s
Competitive rates starting in the 4’s
Unsurpassed funding timelines
Purchase, Rate/Term and Cash-Out Refinance
Owner-occupied, 2nd homes and investment properties
Non-warrantable condos OK
SFR, Condos, Townhouse and 2-4 Units1 day out of Bankruptcy, Foreclosure, Short Sale
Multiple business bank accounts permitted
Common-sense consideration of NSFs and overdrafts
We now offer 3 months reserve programs vs. the typical 6 months
We also provide a chart matrix of the same 4 four programs to highlight options in more detail.
About Qualifying
If you own your own business or are a self-employed contractor you know that obtaining a mortgage
can be difficult. Regardless of what you make for income, tax write-offs and deductions reduces your
taxable income that can effect your debt-to-income ratios. 
The Evolution of Bank Statement Mortgage Loans
The Bank Statement Mortgage is here to change all of that. After the crash of the housing market in
2008, the federal government took custodianship over Fannie Mae and Freddie Mac, the two largest
lenders in the country.   They were so large that if they failed, they would put thousands of
homeowners out on the street, so the government stepped in While this led to many of the great loan
programs that we have today, including HARP and FHA that let homeowners recover from being
underwater or buy a home with less money down, they also made it far more difficult for business
owners and self-employed people to buy a home. 
Entrepreneurs and self-employed workers were now required to prove their income by what they pay
in taxes, not what they made. This has kept everyone from doctors and lawyers to real estate agents
and web designers from buying a home, as they are forced to write off business expenses merely to
keep their companies or practices profitable
This shows as less income made for taxes but doesn't show the true income that they make. This
means that they can't buy a home that is on the proper level to what they make but instead must settle
for less home or continue to rent
 
The Bank Statement Mortgages changed all of that.  We offer business owners and self-employed
1099 contractors the flexibility of a bank statement mortgage, where we only check your bank
statements  deposit history to create a qualifying income.  This way, you can continue to write off all
your business expenses, keeping your business profitable and healthy !
   
No obligation and we don’t pull your credit