Self-Employed Mortgage Loans in West Palm Beach, Florida - Bank Statement Programs

Looking for self-employed mortgage florida in West Palm Beach? West Palm Beach combines urban sophistication with Florida lifestyle. From historic neighborhoods to new luxury developments, the city offers diverse homebuying opportunities across price points. Our self-employed mortgage florida programs are designed specifically for West Palm Beach homebuyers in Palm Beach County, offering competitive rates and expert local guidance.

Why Choose Self-employed mortgage in West Palm Beach?

West Palm Beach's real estate market in Palm Beach County offers unique opportunities for homebuyers. With a median home price of $$485,000, 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 West Palm Beach

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

Required Documents for West Palm Beach Homebuyers

When applying for self-employed mortgage florida in West Palm Beach, 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

West Palm Beach Self-employed Loan Timeline

Here's what to expect when getting self-employed mortgage florida in West Palm Beach:

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

Timeline may vary for West Palm Beach properties based on market conditions in Palm Beach County. We work efficiently to meet your deadlines.

Current Self-employed Rates in West Palm Beach

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

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

West Palm Beach Real Estate Market Insights

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