A bank statement loan in Florida is a non-QM mortgage that qualifies self-employed borrowers using 12–24 months of bank deposits — no tax returns, no W-2s, no employer verification required. If you own a business, work as an independent contractor, or earn income that does not show up cleanly on a tax return, a bank statement mortgage lets lenders see your real income: the money that actually hits your account.
Dynamic Funding Solutions is a licensed non-QM mortgage broker in Florida and Pennsylvania. We work directly with non-QM lenders who specialize in self-employed borrowers, real estate investors, and foreign national buyers across the state — from Miami to Jacksonville. See our full bank statement loan program for program fundamentals.
What Is a Bank Statement Loan in Florida?
Conventional mortgage guidelines — set by Fannie Mae and Freddie Mac — require two years of tax returns and W-2 income to verify what a borrower earns. For Florida’s self-employed workforce, that standard is a systematic barrier. Business owners use deductions to reduce taxable income. Contractors invoice on 1099s with no withholding. Tax returns show what was left after write-offs — not what the business generated.
A bank statement loan solves that. Lenders pull 12 or 24 months of bank statements and calculate qualifying income from average monthly deposits. No tax returns are reviewed. No business profitability analysis is required. The qualifying income is the average of what went into the account — adjusted by the program’s expense factor for business accounts.
How Florida Self-Employed Borrowers Qualify Without Tax Returns
The income calculation depends on whether you use personal or business bank statements:
- Personal bank statements: Average monthly deposits × 12 or 24 months = qualifying income. No expense factor deduction. Most effective for borrowers who transfer net profit to a personal account.
- Business bank statements: Average monthly deposits × expense factor (typically 50%) = qualifying income. A CPA letter documenting actual business expenses below 50% can increase the qualifying amount.
Example: A Tampa Bay healthcare contractor depositing $18,000 per month into a personal account over 12 months qualifies at $216,000 in income — regardless of what the tax return shows.
Who a Bank Statement Loan Is Designed For
Bank statement loans serve Florida borrowers who cannot document income through conventional means:
- Business owners: LLC owners, S-Corp operators, sole proprietors, and general partners
- Independent contractors and 1099 earners
- Real estate investors with complex income structures
- Foreign national buyers purchasing in Florida
- High-income earners with substantial deductions that suppress taxable income
Why Florida Is the Bank Statement Loan Capital of the US
Florida has one of the highest concentrations of self-employed workers in the country. According to the SBA Office of Advocacy’s 2024 Small Business Profile, more than 2.77 million Florida businesses operate without employees — sole proprietors, independent contractors, and single-member LLCs whose income does not appear on a W-2. These business owners are concentrated in industries where bank statement lending is the default path to homeownership: construction, landscaping, restaurants, healthcare practices, real estate, and personal services.
The state also attracts foreign national buyers at a rate matched by few markets globally, and it supports one of the largest real estate investor populations in the US. Bank statement loans are not a niche product in Florida — they are a primary financing tool for a significant share of the buyer pool.
South Florida: Miami, Fort Lauderdale, and the High-Value Market
Miami-Dade County, Broward County, and Palm Beach County represent the most concentrated non-QM mortgage market in Florida. Self-employed density is high across all three counties — restaurants, construction firms, medical practices, and import/export businesses generate consistent bank statement income that does not translate to conventional qualification.
South Florida also drives the bulk of Florida’s jumbo bank statement volume. Properties in Miami, Fort Lauderdale, Boca Raton, and the Palm Beaches regularly exceed $1 million. Dynamic Funding Solutions has direct access to non-QM lenders who process South Florida jumbo bank statement loans from $1 million to $3 million — a segment where most conventional lenders stop.
Foreign national buyers are a second major driver in South Florida. Buyers from Latin America, Europe, and Canada purchasing in Miami and Broward County routinely use bank statement programs — particularly when no US tax return or Social Security number is available.
Tampa Bay, Orlando, and Statewide Coverage
The Tampa Bay market — Hillsborough County, Pinellas County, and the surrounding area — has a large tech and healthcare contractor workforce. Independent contractors working for hospitals, software companies, and financial services firms frequently earn $150,000–$300,000 on 1099s, with bank statements that document the income clearly.
Orlando’s tourism and hospitality industry produces a different borrower profile: restaurant owners, entertainment contractors, and small business operators who generate strong cash flow but carry significant deductions. Bank statement loans qualify these borrowers on deposits, not on net profit after write-offs.
Dynamic Funding Solutions serves the full state of Florida — including Jacksonville, Naples, Sarasota, and all markets between. Florida residents in every county can apply.
Bank Statement Loan Requirements in Florida
Florida bank statement loan programs follow non-QM guidelines set by the lender, not Fannie Mae or Freddie Mac. Requirements vary by lender, but most programs share these thresholds:
Credit Score, Down Payment, and Loan Terms
- Minimum credit score: 620 for most programs; 660+ for better rates and lower down payment requirements
- Down payment: 10% minimum for primary residence; 20–25% for investment property
- Loan amounts: Standard conforming up to $1 million+; jumbo available to $3 million in South Florida
- Loan terms: 30-year fixed, 15-year fixed, and ARM options available
- Property types: Primary residence, second home, investment property (single-family, condo, multi-unit)
Documentation: 12 vs 24 Months of Bank Statements
Most Florida bank statement programs offer both a 12-month and a 24-month option:
- 12-month bank statements: Only the most recent 12 months of deposits used to calculate income. Favors borrowers with strong recent income growth — or who had a gap year prior.
- 24-month bank statements: Full two-year average smooths out seasonal variation. Often produces a more stable qualifying income for borrowers with consistent annual deposits.
All pages of each monthly statement are required. Large deposits require a letter of explanation. NSF activity and negative balances may affect qualification. For a detailed breakdown of both options, see 12-month vs. 24-month bank statement loan.
Business vs Personal Bank Statements in Florida
Florida business owners who transfer net profit to a personal account often qualify at a higher income using personal bank statements. Personal deposits carry no expense factor deduction — the full average monthly deposit counts as qualifying income.
Business bank statements apply the expense factor: typically 50% of deposits is used as qualifying income. A CPA letter documenting actual expenses below the 50% default can reduce the deduction and increase qualifying income. Borrowers with documented expense ratios of 30–40% may qualify significantly higher using the CPA letter path.
The decision depends on your business structure and how you pay yourself. Dynamic Funding Solutions reviews both options and recommends the program that produces the higher qualifying income for your specific deposit pattern. See the full comparison: personal vs. business bank statements.
Florida Property Types: Purchase, Refinance, and Investment
Bank statement loans in Florida cover the full range of property types and transaction types available through conventional financing — and several that conventional lenders will not touch.
Primary Residence and Second Home
Self-employed borrowers use bank statement loans to purchase or refinance a primary residence anywhere in Florida. The program works for single-family homes, condominiums, townhouses, and planned unit developments. Second homes in Florida — a major segment given the state’s vacation property market — also qualify under bank statement guidelines.
Investment Property Bank Statement Loans in Florida
Florida real estate investors use bank statement loans to qualify for rental property purchases when rental income alone does not meet conventional qualification thresholds, or when a DSCR loan is not the right fit. Investment property bank statement loans typically require 20–25% down payment and may carry a rate premium over primary residence programs.
For investors whose primary income is from a business or contracting work — rather than the rental property itself — a bank statement loan qualifies on the investor’s personal income, not the subject property’s rental cash flow. For rental income-based qualification, see our DSCR loan program as an alternative.
Jumbo Bank Statement Loans for South Florida
South Florida’s real estate market routinely produces purchase prices that exceed conventional loan limits. Jumbo bank statement loans — typically above $766,550 — are available through Dynamic Funding Solutions’ non-QM lender network for qualifying borrowers in Miami, Fort Lauderdale, Boca Raton, Palm Beach, and the surrounding markets.
Jumbo bank statement programs in South Florida require stronger credit profiles (700+ recommended), larger down payments (20–30%), and sufficient reserves. The qualifying income calculation follows the same deposit-averaging method — the larger loan amount simply requires a higher qualifying income threshold.
Foreign National Mortgage Florida: Bank Statement Option
Foreign national buyers purchasing in Florida can qualify for a bank statement mortgage without a US tax return, US credit history, or Social Security number. Non-QM lenders who specialize in the Florida foreign national market use personal bank deposits from the buyer’s home country bank accounts to document income and funds.
South Florida — particularly Miami, Boca Raton, and Fort Lauderdale — represents the largest foreign national buyer concentration in the US. Dynamic Funding Solutions works with lenders who have dedicated foreign national programs for the Florida market, with loan amounts available from standard purchase prices through South Florida jumbo.
Frequently Asked Questions
Can a self-employed person get a mortgage in Florida?
Yes — self-employed borrowers in Florida can qualify for a bank statement mortgage using 12–24 months of personal or business bank deposits. No tax returns required. Dynamic Funding Solutions is a licensed non-QM lender in Florida and Pennsylvania.
How do I qualify for a mortgage without tax returns in Florida?
Florida borrowers qualify for a bank statement loan by providing 12–24 months of bank statements, a minimum 620 credit score, and 10–20% down payment. Lenders calculate qualifying income from average monthly deposits — not from tax returns or W-2 forms. See our guide: mortgage without tax returns.
What credit score do I need for a bank statement loan in Florida?
Most bank statement loan programs in Florida require a minimum 620 credit score. Scores above 700 typically qualify for better rates and lower down payment requirements. Some South Florida jumbo programs prefer 720+.
Can I get a bank statement loan for an investment property in Florida?
Yes. Bank statement loans in Florida cover investment properties including single-family rentals, multi-unit properties, and short-term rental properties. Investment property bank statement loans typically require 20–25% down payment. For income-based qualification on rentals, a DSCR loan may also be an option.
Does Dynamic Funding Solutions serve the Miami and South Florida market?
Yes. Dynamic Funding Solutions is licensed in Florida and serves the entire state — including Miami, Fort Lauderdale, Boca Raton, Palm Beach, Tampa, Orlando, Jacksonville, Naples, and Sarasota. DFS has direct access to non-QM lenders who specialize in South Florida jumbo bank statement loans from $1 million to $3 million.
Can a foreign national get a bank statement mortgage in Florida?
Yes. Foreign national buyers in Florida can qualify for a bank statement mortgage using personal bank deposits — no US tax returns or Social Security number required. Dynamic Funding Solutions works with non-QM lenders who have dedicated foreign national mortgage programs for the Florida market.
Get Your Florida Bank Statement Mortgage Pre-Approval
Dynamic Funding Solutions is licensed in both Florida and Pennsylvania. We specialize in non-QM mortgage products for self-employed borrowers, real estate investors, and foreign national buyers — with direct access to the lenders who move South Florida jumbo and investment property files.
To discuss your Florida bank statement loan, contact Lena Polnet, NMLS #17225, or Marina Ayzenberg:
- Phone: (215) 364-7171
- Schedule a free 15-minute strategy call: calendly.com/lena-polnet
Also serving Pennsylvania self-employed borrowers: self-employed mortgage Pennsylvania, business owner home loan Pennsylvania, and 1099 contractor mortgage Pennsylvania.