Available for self-employed borrowers (not business entities) with a min FICO score of 740. Must have established and maintained an excellent credit, payment and banking history. Simply state your Income on loan application and verify self-employment for two years. For primary home purchases only
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) 401-9955We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.
STATED INCOME OWNER-OCCUPIED LOANS
Simply State your Income on the loan application (we dont verify) and provide proof of Self-Employment for two years
Program Guidelines & Requirements•Two years Self-Employed •Attest & Declare your income on the loan application •For purchases (Max LTV of 75%)•For refinance (Max LTV of 70% rate and term or cash out)•Minimum credit score to qualify is 740•No mortgage credit events within the last five (5) years •Twenty-four (24) month recent mortgage history required•No charge offs, collections, or tax liens in the last five (5) years•Maximum loan amount of $3,000,000•Minimum loan amount of $250,000•U.S. residents only•Primary Owner-occupied only •SFR / Condo / Town house Property Types•Most recent personal bank statement with positive ending statement•Closing Funds may come from the account provided for qualifying income•12 months Reserve Funds required•Secondary Financing is not allowed•Property must be in good condition and conform to the area•No rural properties•No First-time homebuyers