Self-Employed Mortgage Loans in Miami, Florida - Bank Statement Programs

Miami homebuyers seeking self-employed mortgage florida benefit from working with a local mortgage expert who understands Miami-Dade County's unique real estate market. With a median home price of $$595,000 and neighborhoods like Brickell, Coral Gables, Coconut Grove, Miami offers diverse homebuying opportunities.

Why Choose Self-employed mortgage in Miami?

Miami's real estate market in Miami-Dade County offers unique opportunities for homebuyers. With a median home price of $$595,000, our self-employed mortgage florida programs help make homeownership accessible.

1. Qualify using bank statements instead of tax returns - using bank statements instead of tax returns
2. 12 or 24-month bank statement options - or 24-month bank statement options
3. 1099-only programs for contractors and freelancers - programs for contractors and freelancers
4. P&L-only options with CPA letter - options with CPA letter
5. Higher loan amounts than traditional qualification - loan amounts than traditional qualification
6. Expertise working with self-employed borrowers - working with self-employed borrowers

Self-employed mortgage Requirements in Miami

Understanding eligibility requirements helps Miami homebuyers prepare for success. Here's what you need to qualify in Miami-Dade County:

| Requirement | Details | |-------------|---------| | Min Credit Score | 600-640+ (varies by program) | | Down Payment | 10-20% minimum for most programs | | Debt To Income | Calculated using bank deposits (with expense factor) | | Business History | 12-24 months self-employment | | Documentation | Bank statements or 1099s or CPA P&L |

These requirements apply to Miami and throughout Miami-Dade County. Your individual situation may qualify for exceptions or special programs.

Required Documents for Miami Homebuyers

When applying for self-employed mortgage florida in Miami, you'll need to provide:

1. 12 or 24 months personal and/or business bank statements
2. 2 years personal tax returns (most programs)
3. Business license and articles of incorporation
4. Proof of business ownership (25%+)
5. YTD profit & loss statement
6. CPA letter (for some programs)
7. Personal bank statements
8. Photo identification

Miami Self-employed Loan Timeline

Here's what to expect when getting self-employed mortgage florida in Miami:

| Stage | Timeline | |-------|----------| | Pre Qualification | 48-72 hours | | Processing | 14-21 days | | Underwriting | 7-14 days | | Closing | 35-50 days total |

Timeline may vary for Miami properties based on market conditions in Miami-Dade County. We work efficiently to meet your deadlines.

Current Self-employed Rates in Miami

Non-QM and bank statement loan rates are typically higher than traditional mortgages. Rate depends on credit, down payment, and program type.

Miami homebuyers should contact us for current rates specific to their situation in Miami-Dade County. Rates change daily based on market conditions.

Miami Real Estate Market Insights

Our local expertise in Miami and Miami-Dade County helps you navigate the market and secure the best self-employed mortgage florida terms for your situation.