Bank Statement Loan Florida | Self-Employed Mortgage Specialist
If you’re self-employed in Florida and your tax returns don’t reflect your actual income, a bank statement loan may be exactly what you need. Dynamic Funding Solutions helps Florida borrowers qualify for a mortgage using 12 or 24 months of bank statements — no W-2s, no tax returns required.
Lena Polnet, NMLS #17225, is licensed in both Florida and Pennsylvania and has worked with self-employed borrowers for 28+ years. She works with 100+ wholesale lenders to find the right bank statement loan program for your income profile.
What Is a Bank Statement Loan?
A bank statement loan is a non-QM (non-qualified mortgage) product designed for borrowers whose true income doesn’t show up clearly on their tax return. Instead of W-2s or pay stubs, lenders review 12 or 24 months of bank statements to calculate average monthly deposits — and use that figure to determine qualifying income.
This approach is especially valuable for:
- Florida freelancers and independent contractors
- Business owners and LLC operators
- Real estate investors with pass-through deductions
- Consultants and gig economy workers
- Restaurant, hospitality, and tourism industry professionals
Personal Bank Statements vs. Business Bank Statements
Personal bank statements reflect your actual deposits directly. Lenders typically count 100% of deposits as income after averaging over 12 or 24 months.
Business bank statements include business revenue, but also business expenses — so lenders apply an expense ratio to estimate net income. The typical expense ratio for business accounts is 50%, meaning lenders count 50 cents of every dollar deposited as qualifying income. Some lenders offer a lower expense ratio (e.g., 30–40%) if you provide a letter from a CPA confirming actual overhead is lower.
Choosing between personal and business statements depends on your income structure. Lena will review both options and recommend which produces the strongest qualification scenario.
Florida Bank Statement Loan Program Details
- 12-month or 24-month bank statement options
- Loan amounts up to $3 million+
- Primary residence, second home, and investment properties
- Down payments as low as 10% (depending on credit and loan amount)
- Credit scores from 620+
- Interest-only options available
- Cash-out refinance available
Why Florida Self-Employed Borrowers Choose Lena
Florida’s economy is built on entrepreneurs, independent professionals, and real estate investors — people whose income is real but not always visible to traditional lenders. Lena has been helping self-employed borrowers qualify for mortgages for nearly three decades. She understands the nuances of non-QM underwriting and will structure your file to give it the best possible outcome.
| Entity | Type | Role |
|---|---|---|
| Bank Statement Loan | Financial Product | Primary subject — non-QM mortgage using deposit history |
| Non-QM Mortgage | Loan Category | Broader category of alternative documentation loans |
| Self-Employed Borrower | Borrower Profile | Primary audience — business owners, freelancers, contractors |
| Expense Ratio | Underwriting Concept | Percentage applied to business deposits to estimate net income |
| Florida | Geographic Market | Service area for this program |
Bank statement loans fall under the non-QM mortgage category, which emerged after the 2010 Dodd-Frank Act defined “qualified mortgages.” Non-QM loans serve creditworthy borrowers whose income documentation doesn’t fit the standard W-2/tax-return mold. They are underwritten to private investor guidelines rather than GSE (Fannie Mae/Freddie Mac) standards.
Frequently Asked Questions
Can I use a bank statement loan to buy an investment property in Florida?
Yes. Bank statement loans are available for investment properties in Florida, including single-family rentals, condos, and multi-family properties. Down payment requirements are typically higher for investment properties (usually 20–25%), and rates may be slightly higher than for primary residences. Lena can walk you through the specifics based on your property type and income documentation.
How many months of bank statements do I need?
Most programs require either 12 or 24 consecutive months of statements. The 24-month option typically provides a more stable income average and may qualify you for a larger loan or better rate. If your income has grown significantly, a 12-month look-back may actually produce a higher qualifying figure — Lena will run both scenarios to find the best fit.
Do I need perfect credit to qualify for a bank statement loan in Florida?
No. While better credit scores lead to better rates, many bank statement loan programs accept credit scores starting at 620. Some lenders go lower with higher down payments or compensating factors. Late payments, past bankruptcy, or recent derogatory marks may affect pricing but don’t automatically disqualify you. Lena will match you with lenders whose guidelines align with your credit profile.
Ready to Get Started?
Call Lena Polnet directly at (215) 364-7171 or use the contact form below. She’ll review your bank statements, calculate your qualifying income, and outline your options — usually within 24 hours.
Get a Free Bank Statement Loan Consultation
Disclaimer: Lena Polnet, NMLS #17225. Dynamic Funding Solutions, NMLS #17144. Licensed mortgage broker in Florida and Pennsylvania. This is not a commitment to lend. All loans subject to credit approval, property appraisal, and underwriting review. Terms and availability subject to change without notice. Not all programs available in all areas.