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CALL TODAY:
(813) 928-9610

FLORIDA
SINCE 1995
DIRECT LENDING

This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice.  Contact loan originator for program questions and scenarios.  

At a Glance

Minimum Down Payment

10% - 25%

Minimum Down Payment to avoid PMI

N/A

PMI (Private Mortgage Insurance)

None

Minimum mid-credit score

600

Min/ Max Loan Amount

$150,000 - $3MM

Loan Repayment Terms

30 years

Amortization

30 Year Fixed Rate / 5/1 ARM /  7/1 ARM 

Prepayment Penalties

None for Owner-Occupied Homes or Second Homes.

Investment properties Only -  6 months interest on 80% of the original principal balance

Recent Housing Events

Min 24 months - OR-1 day minimum (See Loan Originator for details)

 

Max Seller Contributions

6% for Owner-Occupied or Second Homes

2% for Investment Homes

Escrows

Escrows for Property Taxes and Home Insurance required

Acceptable Property Types

Single Family, Townhome/ Villa/ Condominium/ Condotel or Non-Warrantable Condominium

Occupancy

Owner Occupied /  Second Home/ Investment

 

GET PRE-APPROVED TODAY

3 easy steps.  No cost/obligation

SELF-EMPLOYED?  

WE HAVE MORE REASONS TO SAY YES.

BANK STATEMENT

HOME LOANS

       The Business Owner's Secret Weapon.


Our bank statement loan program is designed around the needs of self-employed home buyers. Business owners in the US have a unique advantage with the US tax code, allowing them to offset significant amounts of taxable income with deductions, which effectively reduces their tax burden.  

 

While this has clear tax advantages for the business owner, a problem often arises when the business owner applies for a home loan and is denied due to a lack of income and/or high debt-vs-income ratio.

 

This happens because traditional loan programs (such as Conventional, Jumbo, FHA, VA, USDA) all require the lender use the taxable income from the applicant’s income tax returns (business and/or personal). This often limits the lender to using only a fraction of the business owner’s true income, which leaves the business owner frustrated and feeling trapped.  

 

Our bank statement loan program solves this problem.  Rather than using tax returns, we allow the business owner the ability to use the business deposit income in their bank statements as income, which often provides a more accurate portrait of the applicant's true income profile.    

 

There are no prepayment penalties for owner occupied and second homes, so the loan can be refinanced if desired, as soon as the applicant qualifies for a traditional home loan.  Many of our clients use this program to buy their dream home and decide to refinance it into a traditional loan once they and their tax advisers determine the optimal time.  It allows the business owner to take control and buy a home on their terms.

 

Some lenders may offer this type of program, but few of them can match our experience and success rate, making us the trusted professionals you need to make this program work for you, anywhere here in the state of Florida.

 

Call us today at (813) 928-9610 for more information or apply today.

GET PRE-APPROVED TODAY

3 easy steps.  No cost/obligation

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(813) 928-9610

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