We offer over 48 loan programs in every county in the State of Florida as follows; Alachua County,Baker County,Bay County,Bradford County,Brevard County,Broward County,Calhoun County,Charlotte County,Citrus County,Clay County,Collier County,Columbia County,DeSoto County,Dixie County,Duval County,Escambia County,Flagler County,Franklin County,Gadsden County,Gilchrist County,Glades County,Gulf County,Hamilton County,Hardee County,Hendry County,Hernando County,Highlands County,Hillsborough County,Holmes County,Indian River County,Jackson County,Jefferson County,Lafayette County,Lake County,Lee County,Leon County,Levy County,Liberty County,Madison County,Manatee County,Marion County,Martin County,Miami-Dade County,Monroe County,Nassau County,Okaloosa County,Okeechobee County,Orange County,Osceola County,Palm Beach County,Pasco County,Pinellas County,Polk County,Putnam County,Santa Rosa County,Sarasota County,Seminole County,St. Johns County,St. Lucie County,Sumter County,Suwannee County,Taylor County,Union County,Volusia County,Wakulla County,Walton County,Washington County

What is a Self Employed Heloc Second Mortgage? Homeowners can access cash from their home equity without touching the existing 1st Mortgage at the low rate. We qualify you by calculating 12 or 24 months of your personal or business bank statements to show proof of income. Tax returns are not required! How much can I Borrow on a Self Employed Heloc Second Mortgage? The amount you can borrow with a second mortgage depends on the remaining equity value of your home, minus the 1st mortgage you owe. The amount of the second mortgage can vary, but between 65%-100% of the equity is a good starting point. Benefits of a Self Employed Heloc Second Mortgage? Borrowers can use a second mortgages to finance large purchases such as a new vehicle, second home, down payment of an rental income investment property, consolidate debt, pay for their child’s college education, renovate their home or who just need cash. How do I qualify for a Self Employed Heloc Second Mortgage? To qualify, your income is calculated by adding up all the deposits in your business and/or personal account for either a 12 or 24-month period, and then dividing the total by the same number of months. This method is very effective because it allows their income to be calculated based on gross deposits. It is important to note that the final qualifying income for buisnesses deposits is less than direct personal deposits for services rendered. Is a Self Employed Heloc Second Mortgage the same as a Stand Alone Second Mortgage YES! Usually a Stand Alone Second are advertised using tax returns to qualify not bank statement deposits. At 1st Florida Lending, we do offer both Bank Statement Deposit and (“full doc stand alone second mortgages”) using gross tax return and W2 income at a lower rate. Borrowing Matrix Eligible Borrowers • US Citizens • Permanent Resident Aliens • Non-Permanent Resident Aliens o Visa E/G/H/L/O/P/TN • Non-Occupant Co-Borrowers Loan Amount • Minimum Loan Amount $200,000 • Max Loan Amount $1,000,000 Ineligible Borrowers • Foreign Nationals • Irrevocable Trusts or Land Trusts • Diplomatic immunity Qualifying Income Documentation • Full Doc - 1 Year Tax Returns • Stated - 12 months Bank Statements Reserves • Cash out may be used for reserves • No Gifts of equity allowed Eligible Property Types • Primary Home: No reductions • Second Home • Investment Property • 2-4 Multi Family Unit • Condos: FNMA Warrantable • Non-Warrantable Condo ( case by case only) Ineligible Property Types • Condotels • Rural/Ag or Vacant Land • Unique(dome, berm,etc) • Condition C5 or C6 • Manufactured/Mobile homes • Co-ops • Mixed-use Appraisal Type • AMC Appraisal Only

SELF-EMPLOYED HELOC

SECOND MORTGAGE

OBTAIN CASH OUT FROM THE EQUITY ON YOUR

PRIMARY OR SECOND HOME WITHOUT TOUCHING

YOUR 1ST MORTGAGE ALREADY IN PLACE !