Self-employed in North Florida? Qualify on deposits.
North Florida has a heavy self-employed and 1099 population: doctors and attorneys in Ponte Vedra and Sutton Park, real estate agents and consultants throughout Duval and St. Johns, contractors and tradespeople across Clay County. Bank-statement loans are built for these files.
What a bank statement loan is
Self-employed borrowers often legitimately deduct business expenses to reduce taxable income. The result: tax returns that show $80K of net income on a business that produces $250K of cash flow. Conventional underwriting only sees the $80K.
A bank statement loan is a non-QM (non-qualified mortgage) program. It looks at 12 to 24 months of business or personal bank statements and qualifies you on actual deposits, applying a reasonable expense ratio. The gap between "tax-return income" and "real income" stops being the problem.
Who qualifies
Self-employed file, friendly underwriting.
Most programs accept 12; some require 24 for the strongest pricing.
Floor varies by program. 700+ unlocks better rates.
Higher than conventional but accessible. 20% common.
Other qualifying details:
- Two years of self-employment (some programs flex to 1 year with strong file)
- Business statements (deposits in business account) or personal statements (deposits in personal account from business income)
- Letter of explanation for unusual deposits: large transfers, one-time events
- Property: primary residence, second home, or investment all possible
Who fits well across North Florida
Northeast Florida self-employed file profiles.
Doctors, dentists, surgeons - especially Ponte Vedra, Sutton Park, San Marco.
Real estate agents, sales reps, consultants. Common across all three counties.
LLC and S-Corp owners whose K-1 income understates take-home.
The full fit list includes:
- Doctors, dentists, attorneys with established North Florida practices
- 1099 sales reps, consultants, and real estate agents (huge population in NE Florida)
- Business owners (LLC, S-Corp) where K-1 doesn't reflect cash flow
- Contractors, tradespeople, long-haul truckers with Clay County operations
- Charter captains, fishing guides, and tourism-related Florida businesses
When to look at conventional instead
- W-2 employee with full pay-stub history: conventional almost certainly cheaper
- Self-employed but tax returns DO show your real income: conventional wins
- New self-employment (under 1-2 years): may not qualify for either; rebuild track record first
North Florida specifics
- Insurance and HOA in coastal and gated communities (Ponte Vedra, oceanfront, Sutton Park) factor into the qualifying ratios
- Florida homestead exemption still applies; bank-statement loans don't change that
- Investment property in St. Augustine, Vilano, or Beaches Vrbo / short-term-rental files often use bank-statement programs
- Nine wholesale lenders run bank-statement programs with different niches; Rocket, UWM, and Nations Direct lead the named desks, and we shop your file across all of them
Want a number before you talk to anyone? See what you can qualify for using this week's Freddie Mac rate. No application, no credit pull.
What North Florida self-employed borrowers ask.
Do you actually look at every transaction?
Business or personal statements?
What's the rate vs conventional?
Does Florida's lack of state income tax help?
I'm a Realtor. Can I qualify with my 1099 income?
What about charter captain or fishing guide income?
Can I do a bank-statement loan on an investment property?
Can I refinance into conventional later?
Related, in plain English.
- Bank Statement Loans for Self-Employed Buyers
Self-employed buyers can qualify for less than they earn once tax write-offs shrink their income.
- Refinance documents, the actual list
The exact documents underwriting wants when you refinance a mortgage.
- What Credit Score to Buy a House in Florida
What credit score to buy a house in Florida depends on your loan type.
Get a real bank-statement quote today.
Bring 12-24 months of bank statements (business or personal). We model what underwriting will see across nine wholesale lenders.