Bank Statement Loans in Florida for Self-Employed Buyers

Last updated October 6, 2026

The quarterly estimates are paid, the Sunbiz annual report is filed, and a year of business statements sits in a clean folder beside the laptop in a Sarasota home office. Your tax return shows a smaller number than your deposits do, because your CPA did their job.

That's usually when self-employed clients call me. Florida gives you several ways to document income, and bank statements are often the best fit for a business owner. A bank statement loan is a non-QM loan, which means it sits outside the standard qualified mortgage rules, but the lender still has to verify that you can repay. Federal rules let lenders use financial institution records to do that.

Should I use 12 or 24 months of bank statements?

Many programs let you choose either, and your qualifying income is the eligible deposits divided by 12 or 24. Twelve months shows the most recent picture, which helps if your business has grown. Twenty-four months smooths out a slow stretch, which helps if your deposits climb in winter and settle in summer.

Many programs look for about two years of self-employment in the same business. Some will consider a shorter history when you worked in the same field before going out on your own. The statements have to be consecutive and recent, so I ask for the newest month as soon as it posts.

How does the expense factor work?

On business statements, a common method takes your eligible deposits, multiplies them by your ownership share, and subtracts a fixed expense factor. That factor is often 50%, whether or not your business spends that much. Many programs also require you to own at least 25% of the business to use its statements.

Not every deposit counts. Transfers between your own accounts are usually excluded, and large or unusual deposits have to be sourced or left out. Personal statement programs often count business deposits without a factor, but they usually want a few months of business statements to show the accounts are kept separate.

When does a CPA letter help?

If your real expenses run well below the fixed factor, a letter from a CPA, enrolled agent or licensed tax preparer can state your expense ratio based on your most recent return. Some programs that accept this method want the letter without disclaimers about accuracy. On a lean business, that one letter can change the qualifying income quite a bit.

Your CPA has rules to follow too. Federal law bars a tax preparer from releasing your return information without your written consent, and CPA guidance warns against letters that read like they verify your income. I ask clients to sign that consent early and send their CPA the exact wording the program needs, so nobody is guessing.

What's different for self-employed buyers in Florida?

Florida doesn't have a personal income tax, so there's no state return for an underwriter to review. Your federal return and your statements carry the file. Many programs also want third-party proof that your business is active, and for a Florida LLC or corporation that usually starts with its record on Sunbiz.

That record can trip people up. Florida's annual report is due by May 1, a $400 late fee applies after that for LLCs and profit corporations, and an entity that hasn't filed by the third Friday in September is administratively dissolved the following Friday. I check the Sunbiz status before we order an appraisal, because a dissolved entity has to be reinstated, with a filing and fees.

What are documentary stamp taxes on a Florida purchase?

Florida charges documentary stamp tax on the deed at 70 cents per $100 of the price in every county except Miami-Dade. Miami-Dade charges 60 cents per $100 plus a 45 cent surtax, and the surtax doesn't apply when the deed transfers only a single-family home. The mortgage carries documentary stamp tax of 35 cents per $100 of the loan, with no cap. A separate nonrecurring intangible tax of 2 mills applies to the mortgage too.

Florida law makes every party to the document liable for the tax, no matter who agreed to pay it. Who covers the deed stamps is often set in the purchase contract, so read that line before you sign. I put the mortgage stamps and intangible tax in your cash-to-close estimate from the start, so the total holds up.

Bank statement loans by Florida city

The program rules above work the same anywhere in Florida. What changes by city is the paperwork next to your statements and the property costs your deposits have to carry.

Bank statement loan lender in Miami

If you're looking for a bank statement loan lender in Miami, you have plenty of company. About one in six working Miami residents is self-employed, according to the Census Bureau's 2024 American Community Survey, and most run businesses that aren't incorporated. Many of those owners deposit into a personal account, so I compare personal and business statement programs side by side. Miami-Dade's deed stamps differ too, as covered above.

Bank statement loan lender in Tampa

In Tampa, I check the flood zone and price flood insurance before I set your qualifying target, because when it's required, the payment your deposits have to support includes it. The City of Tampa is a Class 5 community in FEMA's Community Rating System, taking 25% off eligible National Flood Insurance Program premiums. A private flood policy doesn't get that discount, so price both. My Tampa home loan guide covers neighborhood checks.

Bank statement loans in Orlando

Programs often ask for something showing the business is still open today, and a current business tax receipt is one document that helps. Inside Orlando city limits you need two. The City of Orlando requires a receipt for every business, home-based ones included, and Orange County issues its own after the city's. Under Florida law both expire September 30, so I ask for current copies with your statements.

Bank statement loans in Fort Lauderdale

Bank statement loans in Fort Lauderdale often turn on the building as much as on you. The Broward County Property Appraiser counts 28,095 condominium parcels in the city for 2026, more than any other Broward city. When you're buying a condo, I request the association's budget, insurance and questionnaire alongside your statements. If the building doesn't pass a standard project review, a non-warrantable condo program may still fit.

Bank statement loans in Jacksonville

Jacksonville and Duval County share one consolidated government, but your tax bill still depends on where the parcel sits. For the 2025 tax year, the main city area carried 17.7412 total mills, about $1,774 for each $100,000 of taxable value. The Beaches and Baldwin each carry their own totals. Property tax is part of the qualifying payment, so I estimate it from the parcel's actual district.

What if bank statements aren't the right fit?

If your returns already show enough income, a conventional loan may work without a specialty method, so I check that first. Contractors paid on 1099s can look at a 1099 mortgage, and clients with substantial savings but uneven income can ask about asset depletion. Buying a rental instead of a home is a different path, a DSCR loan that qualifies on the rent. A business owner with a CPA-prepared profit and loss statement can compare profit and loss documentation.

The property can shape the choice too. Florida homeowners insurance and, in a condo, the association's review are part of every file, and a building that doesn't meet agency rules may need a non-warrantable condo loan.

As a mortgage broker, I compare bank statement programs across lenders and line up the expense method that fits your books. Residential home loans in Maine and Florida. DSCR loans on investment and rental properties in 37 states.

FAQ

What mortgage works for a self-employed buyer in Florida?

For a self-employed buyer in Florida, the right mortgage depends on your records and the property, and a bank statement loan is one common choice. A conventional loan using tax returns, a 1099 mortgage, asset depletion or, for a rental, a DSCR loan can fit other files.

Can I get a bank statement loan in Florida with 12 months of statements?

Yes, many bank statement loan programs in Florida accept 12 months of statements, and your eligible deposits are divided by 12 to set your monthly income. Many programs still look for about two years of self-employment history.

How is income calculated on a bank statement loan in Florida?

On a bank statement loan in Florida using business statements, a common method multiplies eligible deposits by your ownership share, subtracts an expense factor, and divides by 12 or 24. Transfers between your own accounts are usually excluded.

Do I need a CPA letter for a bank statement loan in Florida?

A CPA letter isn't required for every bank statement loan in Florida, but it can replace a fixed expense factor with your actual expense ratio from your most recent return. Your CPA needs your written consent before releasing return information.

Can 1099 income be used for a mortgage in Florida?

A self-employed contractor in Florida can often use 1099 income for a mortgage through a 1099 program, which reviews the 1099s and work history instead of bank statements. I compare that route with a bank statement loan for your file.

How much are doc stamps on a mortgage in Florida?

Documentary stamp tax on a mortgage in Florida, including a bank statement loan, is 35 cents per $100 of the loan amount with no cap. A nonrecurring intangible tax of 2 mills applies to the mortgage as well.

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Picture that home office a few months from now, the same folder on the desk and a new address on the letterhead. Want to know which method fits your deposits? Send me your last 12 months of business statements and your most recent federal return through my contact page or at travis@travis.mortgage. I'll run the 12 and 24 month versions side by side and tell you whether a CPA letter is worth asking for.

Started in 2004 and I'm still here.