Qualify using 12-24 months of bank deposits instead of tax returns. Designed for self-employed Florida borrowers whose tax returns don’t reflect their true income.
12-24 mo
Statements
10%
Min Down
620
Min Credit
Written by Renzo Johnson, Licensed MLO · NMLS #PENDING · Last updated: February 2026
Key Features
- 12 or 24 months of personal or business bank statements
- No tax returns required
- Business and personal accounts accepted
- Expense factor applied (typically 50% for business accounts)
- Loan amounts up to $3 million+
- Available for purchase and refinance
- Primary residence, second home, and investment property
- Fixed and adjustable rate options
Who Is This For?
- Self-employed borrowers (2+ years in business)
- Small business owners with significant write-offs
- Freelancers, consultants, and gig economy workers
- Borrowers whose tax returns show low AGI despite strong cash flow
Florida-Specific Considerations
- Florida has one of the highest self-employment rates in the US
- Popular among Miami and South Florida business owners
- Orlando/Tampa service industry entrepreneurs
- Florida has no state income tax — all income is federal, simplifying deposit verification
- Can be combined with Florida flood insurance requirements
- Works for Florida condo purchases (non-warrantable options available)
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