florida

 

Florida Bad Credit Bank Statement Lenders program

We use 70% to 100% of your bank statment deposits as income. You choose the one account for the loan either business or personal and we add up all the deposits /24 months!!.

Are you self-employed? Do you earn seasonal income? Are you a Florida consultant, promoter, tax-preparer, freelancer, artist or other professional with an irregular income stream? If so, our Florida Bad Credit Bank Statement Lenders Program may be perfect for you!

Many Florida businesses often wonder if they have excellent cash flow and have demonstrated a lengthy past history of being able to pay debt on time, then why should they be declined because of limited collateral or unsatisfactory personal credit if they have good business cash flow?  Based on your Florida Bank Statements revenue, we can assist you in getting a bad credit Florida bank statment mortgage lender!

BAD CREDIT BANK STATMENT ADVANTAGES INCLUDE:

  • 85% Jumbo No MI Bank Statement Program
  • 1 Day After Foreclosure, BK or Short Sale OK
  • 500 Fico Scores OK
  • Charge Offs, Collections or Repossessions 2 Years Old or More Do not Need To Be Paid Off!
  • No 4506
  • No Reserves Required On Any Loan For Rentals or Owner Occupied
  • 85% LTV Bank Statement For Self Employed
  • High LTV 2 Years After Foreclosure, BK or 1 year after Short Sale With Bank Statements.
  • Cash Out 1 day after Foreclosure BK or Short Sale.
  • Completely Stated Income to 70% LTV Non Owner Occupied.
  • Non Owner Occupied Cash Out and up to 20 Properties Financed.
  • We Do Condotels
  • Non Warrantable Condos
  • Business Loans

1STARTNOW

www.Florida-Mortgage-Lenders.com

 

How does Florida Bad Credit Bank Statement Lenders program it work?

Simple. Instead of requiring years of tax documents, W-2s, or proof of regular payroll checks, we base our lending decision on a combination of your Florida Bad Credit Bank Statement  Lenders and a Profit & Loss statement for your business.

Even if you earn your income in just part of the year, as long as you maintain bank accounts documenting your income stream we can help!

We offer three scenarios for our Florida Bad Credit Bank Statement Lenders Program.

Here’s how each Bad Credit Bank Statment Florida Mortgage Program Example works:

Example 1 – Your Personal and Business finances Utilize a Single Account

Bank Statment Only Borrower provides Florida Bad Credit Bank Statement  Lenders from the most recent 12 consecutive months

Bank Statment Only Borrower provides a Profit & Loss (P&L) statement prepared by a CPA or a Licensed Tax Preparer

The expenses shown on the P&L must be reasonable considering the borrower’s type of self-employment

The P&L will be the primary source for information to qualify the borrower

The revenue from the P&L will be supported by the Florida Bad Credit Bank Statement Lenders the borrower provides

The Florida Bad Credit Bank Statement Lenders must reflect deposits no less than 5% of the revenue stated on the P&L

The underwriter reserves the right to request Florida Bad Credit Bank Statement Lenders from up to 24 consecutive months

Example2 – You Maintain Separate Florida Bank Accounts For Personal and Business

No P&L Statement is required

Only your personal Florida Bad Credit Bank Statement  Lenders will be considered to determine eligibility

Bank Statment Only Borrower provides personal Florida Bad Credit Bank Statement  Lenders from the most recent 12 consecutive months in addition to business Florida Bad Credit Bank Statement  Lenders from the most recent 3 months (in order to verify the maintenance of separate accounts)

Annual deposits are averaged to determine monthly income

The underwriter reserves the right to request Florida Bad Credit Bank Statement  Lenders from an addition 12 consecutive months

If an optional P&L prepared by a CPA or a Licensed Florida Tax Preparer is provided, that will determine borrower’s monthly income

(For both Example1 and Example2, the information provided must support the size of the requested transaction. Inconsistencies may necessitate additional documentation such as tax records.)

Example 3  You Only Use Florida Bad Credit Bank Statement  Lenders to Qualify your Loan

Florida Borrower provides business Florida Bad Credit Bank Statement  Lenders from the most recent 12 consecutive months

Florida Bank Statment Only Borrower provides a Profit & Loss (P&L) statement prepared by a CPA or a Licensed Tax Preparer

The business Florida Bad Credit Bank Statement  Lenders must reflect deposits no less than 5% of the revenue stated on the P&L

(In all 3 situations, issues such as Non-sufficient Funds (NSF) or Over-Drafts, even if so-called Overdraft Protection is utilized, may have a bearing on the underwriter’s Bank Statement Approval Decision. 

Apply Now For Our Florida Bad Credit Bank Statement Lenders Program, contact us today!

MORE FLORIDA BANK STATEMENT LENDERS LINKS

  1. Bank Statement Only Florida Mortgage Lenders
  2. FLORIDA BANK STATEMENTS LENDER
  3. Florida Bank Statement Lenders Income Calculation

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CREDIT REQUIREMENTS

FHA MORTGAGE

550 MIN FICO

PORTFOLIO MORTGAGE

NO MINIMUM

VA MORTGAGE

550 MIN FICO SCORE 

USDA LOANS

580 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

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