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

As an experienced mortgage loan officer serving Pensacola and Escambia County, I specialize in self-employed mortgage florida for local homebuyers. Whether you're considering homes in East Hill, North Hill, Downtown, or other Pensacola neighborhoods, our loan programs are tailored to the local market.

Why Choose Self-employed mortgage in Pensacola?

Pensacola's real estate market in Escambia County offers unique opportunities for homebuyers. With a median home price of $$315,000, 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 Pensacola

Understanding eligibility requirements helps Pensacola homebuyers prepare for success. Here's what you need to qualify in Escambia 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 Pensacola and throughout Escambia County. Your individual situation may qualify for exceptions or special programs.

Required Documents for Pensacola Homebuyers

When applying for self-employed mortgage florida in Pensacola, 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

Pensacola Self-employed Loan Timeline

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

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

Timeline may vary for Pensacola properties based on market conditions in Escambia County. We work efficiently to meet your deadlines.

Current Self-employed Rates in Pensacola

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

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

Pensacola Real Estate Market Insights

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