Are You Self-Employed or a Business Owner and looking for a 1-year tax return mortgage? Our 1-Year Tax Return mortgage for Self-Employed Florida Business Owners. This program can work for a borrower whose employment histories and tax returns may not reflect their qualifying income for the most recent 2 years.
1-Year Tax Return Self-Employed Florida Mortage
- Must be a business owner/self-employed for a minimum of 5 years with documentation
- Credit scores down to 620
- Last 6 months Bank Statements
- Year to Date P & L
- [ Minimum 20% down payment ] Up to 80% Loan to Value
- Primary, Secondary, and Investment properties eligible
- SFRs, townhomes, condos, 2-4 units
- 30-year fixed
- 5 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
DISQUALIFIER: If any of the borrower’s self-employed businesses have been in business less than five years, conventional mortgage lenders will require two years of personal tax returns. DU will issue a separate message listing the requirements for business tax returns for all self-employed businesses, specifying that one- or two-year tax returns are required based on the number of years the business has been in existence.
Florida mortgage lender’s 1-year tax return automated underwriting will issue a message permitting only one year of personal federal tax returns if the loan application indicates the borrower is
- Self-employed with an ownership share of 25% or more,
- The Start Date for all self-employed businesses is at least (5) five years before loan submission.
No Tax Return Florida Mortgage Alternatives Include:
We provide a variety of specialty Alternative Florida mortgage programs including:
- No Income: No Doc, Stated Florida No Income verification Mortgage Lender
- NO tax return: Non-QM and Private Lenders offer alternative documentation.
- 1099 Only: Use 1099 Income up to 100% of income with no verified business expenses.
- VOE: Allow your VOE to disregard your tax return write-offs.
- Bank Statement: Use 12 or 24 average bank deposits for mortgage income.
- Asset-Based: Assets in your account to qualify.
- Self-Employed Mortgage: – If you write off too much of your income.
- P&L Only:: Use Your licensed Tax preparer Profit and Loss to qualify.
- NO Income:: Use the subject property’s income for your next investment.
- Foreign National: Nonresidents can invest purchase or cash out.
- Commercial: Options for Florida office buildings, shopping centers, and warehouses.
- Reverse Mortgage Condo: 55+ Florida Condo mortgages with no monthly payments.
- Bad Credit Florida: Bad Credit is based on payment history and not credit score.
- Non-Warrantable Florida Condos and Condotel Mortgage Options
