Bank Statement Loan Requirements in Florida
What you need for a bank statement loan in Florida: months of deposits, credit, down payment, and reserves. Built for the self-employed. Licensed FL mortgage broker NMLS# 1859012.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A bank statement loan trades tax returns for deposit history, so the requirements center on showing steady cash flow. You still meet standards on credit, down payment, and reserves, but your income comes from 12 or 24 months of deposits rather than W-2s. Here is what you need before you apply.
What You Need to Qualify
The foundation is your deposit history. Lenders average 12 or 24 months of personal or business statements and apply an expense factor to reach your qualifying income.
Beyond deposits, the lender confirms your credit, down payment, and reserves to keep the loan sound. Your exact terms depend on the lender and your profile.
Turning Deposits Into Qualifying Income
The lender totals your eligible deposits over the statement period, divides to a monthly average, and applies an expense factor, often around 50% on personal accounts or a CPA-stated ratio on business accounts.
That figure becomes the income used to qualify. Estimate yours in advance with our bank statement income calculator so you know roughly what to expect.
Eligible Borrowers
Bank statement loans serve self-employed business owners, 1099 contractors, real estate agents, consultants, and gig-economy earners whose tax returns understate real income.
The property can be a primary residence, second home, or investment. Bring your statements and a clear picture of your cash flow so we can match you to the right program before you apply.
Bank Statement Loan Requirements — FAQ
You need 12 or 24 months of personal or business bank statements showing steady deposits, a credit score generally in the 620 to 660 range or higher, a 10 to 20% down payment, and several months of reserves. Most programs also expect about two years of self-employment.
The lender totals eligible deposits over the statement period, divides to a monthly average, and applies an expense factor, often around 50% on personal accounts or a CPA-stated ratio on business accounts. That figure becomes the income used to qualify.
Self-employed business owners, 1099 contractors, real estate agents, consultants, and gig-economy earners whose tax returns understate their real income are strong candidates. The property can be a primary residence, second home, or investment.
See If You Qualify on Your Deposits
Qualify on deposits · Self-employed welcome · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.