Self-Employed Bank Statement Loans – Flexible Lending Solutions Without Traditional Income Documentation Securing a mortgage when you're self-employed can be challenging—but it doesn’t have to be. While most lenders offer just one or two bank statement loan options, 1st Florida Lending offers over 20 custom-tailored program scenarios with competitive rates and streamlined processing, even for complex financial profiles. Bank Statement Loan Highlights • 12 & 24 Months Business or Personal Statements • Borrow up to 90% of your primary homes value • 100% of Deposits on Personal Statements is utilized in Analysis • Use Up To 85% of Deposits on Business Statements utilized in Analysis • No tax returns required or 4506 required to qualify • Min $150,000 up to $5,000,000 (need more? Ask us) • Low Rates and Buy Downs with some programs • Min 600 Fico permitted • No Mortgage Insurance (all programs) • No Prepayment Penalty (all programs) • SFR, Condos, Town house and 2-4 Units • Non-warrantable condos OK • 5/1 & 7/1 ARM’s or 30 year Fixed • Borrower does not have to be 100% owner of the business • Multiple bank accounts are permitted in some programs • P&L statements NOT required on most programs • Owner-occupied, 2nd homes and investment properties • Bankruptcy, Foreclosure, Short Sale (Min 2 years out) • Common-sense consideration of NSFs and overdrafts • Some reserves required depending on credit and loan amount • Purchase, Rate/Term and Cash-Out Refinancing Co-Borrowers may use non-self-employment income sources like W2, retirement rental income, social security and pension. With minimal down payment requirements, low rates, and even a second mortgage option, this program is the most flexible and cost-effective choice in our self-employed loan suite. Ask about our 3-Month Bank Statement Loan Need a faster track? Our 3-month bank statement loan is perfect for self-employed individuals who can demonstrate financial stability through with just three months of recent deposits, no tax returns or pay stubs required. Why Choose Us? Experienced, Hands-On Loan Officers Our seasoned loan officers understand the nuances of self-employed lending. Bank statement loans are manually underwritten, requiring four times the documentation compared to conventional loans. That’s why working with a knowledgeable team is critical—we know how to navigate the process smoothly from start to finish. Who Qualifies for a Bank Statement Loan? These loans are ideal for a wide range of self-employed borrowers, including: • Business owners • Freelance professionals • 1099 consultants • Contract workers • Independent contractors • Sole proprietors • Online retailers • Gig economy workers • Realtors • Entrepreneurs Being self-employed often means writing off numerous expenses, which can reduce your taxable income and disqualify you from a traditional loan. With a bank statement loan, you don’t need to provide tax returns—just your bank statements showing your actual income flow. How Income is Calculated We offer both personal and business bank statement loan options, depending on how your income is received and deposited. Personal Bank Statement Loan Income is deposited directly into your personal account. We use 100% of eligible deposits to calculate qualifying income. Business Bank Statement Loan Income is deposited into a business account under your business name. We use up to 85% of eligible deposits to determine income, accounting for typical business expenses. Other Popular Self-Employed Loan Programs Profit & Loss Statement Loan (1- or 2-Year) Ideal for self-employed borrowers who want to qualify based on P&L statements rather than tax returns or pay stubs. A great alternative for business owners with variable or seasonal income. 1099 Income Loan Tailored for independent contractors and freelancers who receive income via Form 1099. These loans help reflect your actual earnings without relying on traditional W-2 income verification. Obtain a Loan Pre-Approval Today Don’t let traditional income documentation stand in the way of homeownership or refinancing. Our flexible bank statement loan programs are designed to work for self-employed borrowers not against them. • Fast approvals • Flexible terms • Competitive Rates Need a Quote? Just complete our quick 1-minute online questionnaire to get started. One of our experienced loan officers at 1st Florida Lending will reach out with tailored program options, rates, and terms that fit your needs and budget.