Stated Income Home Loans - No Employment Verification


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* 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 any loan we be approved. Licensed in Florida Only © 2007 - 20211st Florida Lending Corp. - All rights reserved I Privacy Policy I Terms of Use I
No Income Verification for Primary and Second Home Loans I No Employment Verfication I

Florida’s Top Rated DIRECT Lender I 48 Programs

1st Florida Lending

800-655-1345 I CALL us 407-300-2558

Aside from the Military outreach programs that we proudly support.  CLICK HERE FOR A  RATE QUOTE   OBTAIN PRE-APPROVAL LETTER TODAY Its Easy! Fast! and No Obligations

1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing only the State 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.

Very Low Rates for both Purchases and Refinance
Fast Approvals Streamlined Underwriting Pre-Approval in 24 Hours Close in as little as 30 days Easy Process No Income Verification No Tax Returns Needed No DTI limits Reliable Partner 25+ Years of Experience We are Direct Lenders Not Retail Brokers
No Mortgage Drama … No Red Tape… No Endless Loop Request

THE STATED MORTGAGE LOAN is a trademark owned by 1st Florida Lending Corp. . The Stated

Mortgage Loan is a fully accredited, non-conforming loan providing non-traditional access to prime

mortgage capital to the undeserved borrowers not meeting all of the regulatory guidelines.


No Income or Employment Verification required for  Primary and Second Home Purchase and Refinancing
1. 80% LTV for Primary and Second Home Purchases and Rate/Term Refinancing 2. 75% LTV for Primary and Second Home Cash-Out Refinancing
Stated Income Loans for Owner Occupied Properties are now called (“Stated Mortgage Loans”) which can be used for the purchase and/or refinancing of owner occupied primary and second homes. Stated Mortgage Loans do not require Income or Employment Verification which is ideal for borrowers unable to qualify for conventional loan and some Non-QM loans due to: High DTI (debt-to-income) ratios Volatile or Irregular Employment Retirees on fixed incomes Owners of Cash Businesses Change of Industry or Type of Employment Transitioning from W-2 to Self-employed under 1 year Online Retailers using difference online payment systems Benefits of a No Income / No Employment Verification Mortgage Purchase or Refinance: No income verification No employment No tax returns No 1099’s No W2’s No DTI calculated Key Loan Highlights No Income or employment verification required Owner Occupied Primary Residence & Second Homes only $150,000 to $3 Million Loan Amount (not purchase price) Min Credit Middle Score 660 Max 80% LTV (Max LTV is the same for 660 FICOs and up) for Primary and Second Home Purchases and Rate/Term Refinance with very low rates Max 75% LTV (Max LTV is the same for 660 FICOs and up) for Primary and Second Home Cash- Out Refinance 30yr fixed with Interest only ARM available No Pre-Payment Penalty / No Mortgage Insurance Primary Documentation Required Last 2 months banks statements showing a sufficient source of Funds for down payment, closing cost and reserves. The reserves amount is based on your credit score for both purchases and refinancing Last Mortgage Statement if Refinancing Valid Drivers License Appraisal (Must be ordered by 1st Florida Lending) Most recent Mortgage Statement if refinancing Credit Report Requirement: A hard inquiry full credit report must be pulled by 1st Florida Lending and show a minimum (middle) credit score of 660 with no Mortgage lates. If a single late mortgage payment showing on the Borrower’s credit history. We cannot proceed with this loan. Tradeline Documents Requirement: Borrower must have active tradeline(s) a outlined in option 1, 2 or 3. (A tradeline is defined as any combination of credit cards, student loans, car loans etc. ) Option 1. Active tradeline for 24 months Option 2. Active tradeline for 12 months Option 3. I have both of the above If the Borrower has not established an active tradeline as defined in Option 1 or 2. We cannot proceed with this loan. Mortgage Credit Events - OK Foreclosure Seasoning - 12 months from removal of name on deed Short Sale / Deed in Lieu Seasoning - 12 Months out Bankruptcy Seasoning - Settled/Discharged Eligible Properties Primary Residences: Borrowers must occupy the property as your permanent residence Second Homes: Must be occupied by the borrower some portion of the year. Must be located a reasonable distance from the borrowers and is restricted to one-unit dwellings. The borrower must have exclusive control over the property and cannot be rental property or a timeshare agreement. Condominiums Fannie Mae warrantable up to max LTV per eligibility grid Non-Warrantable up to 65% max LTV Mixed-Use Properties The property must be a 1-unit dwelling the borrower occupies as a primary residence. The borrower must be both the owner and operator of the business. The property must be primarily residential in nature The dwelling may not be modified in a manner that has an adverse impact on its marketability Ineligible Properties: Any property that is Zoned Commercial, Investment Properties, Condotels, Co-ops, Manufactured / Mobile Homes, working farms, ranches, orchards, Acreage limited to 40 acres