FLORIDA BANK STATEMENT
LOAN RATES
Self Employed Bank Statement Mortgage Options to Lower Payments, Control Loan Costs, and Qualify with Bank Statements
That’s exactly why Florida bank statement loans exist.
A bank statement mortgage (often categorized as NonQM, or “nonqualified mortgage”) is designed for borrowers whose real income is easier to verify through bank deposits and cash flow than through W2s or “perfect” tax returns. Instead of forcing your approval into a onesizefitsall box, the right bank statement program can give you a responsible path to buy, refinance, or cashout refinance—with a structure that fits your monthly budget.
Most Florida borrowers care about two things first:
bank statement loan rates
(today's pricing)
total loan costs / cash to close
(what comes out of pocket)
Why Florida Bank Statement Loans Matter Right Now
Florida is one of the biggest hubs in the country for:
- Small business owners and entrepreneurs
- Commission based professionals
- Real estate and investor activity
- Relocation and lifestyle moves
At the same time, Florida homeowners face real monthly budget pressure from insurance, property taxes, HOA dues, and higher purchase prices in many markets. That means even small improvements in pricing or structure can create meaningful payment relief.
A bank statement loan isn’t just “a different way to qualify.” It’s a way to approach the loan like a strategy:
qualification + payment structure + cashtoclose planning—all working together.
More Ways Than Ever to Manage the Monthly Payment
30Year Fixed, 40Year Fixed, ARMs, and Interest Only Options
Many borrowers think the only choices are “30year fixed or nothing.” In reality, bank statement borrowers may have access to a menu of structures (availability varies by program and lender), including:
30-Year Fixed
The classic: predictable payment and longterm stability.
40-Year Fixed (where available)
Some portfolio and NonQM programs offer longer amortization options that can lower the monthly payment. This can be helpful when payment qualification or monthly comfort is the primary hurdle.
Adjustable Rate Mortgages (ARMs)
ARMs can sometimes reduce the initial payment compared with a fixed rate, which may help borrowers who expect income growth, plan to refinance, or don’t expect to keep the home longterm. The right fit depends on timeline and risk comfort.
Interest Only Options (where available)
Certain NonQM and jumbo programs offer interestonly periods. This can reduce the payment early useful for variable income and cashflow management. The tradeoff is slower principal payoff during the interestonly period, so this should be used intentionally.
Buying a Home in Florida with a Bank Statement Loan
A bank statement mortgage may be a strong fit if:
- You’re self employed and write off income
- Your deposits are consistent, but tax returns understate earnings
- You’re purchasing in a market where the payment is the hurdle
Florida buyers often use bank statement loans for:
- Primary residences
- Second homes (program dependent)
- Certain investor scenarios (ask—options vary widely)
Florida Bank Statement Refinance
Rate and Term or CashOut Refinance Options
A bank statement refinance can help when you want to:
- Improve payment or move to a more stable structure (when pricing allows)
- Restructure your mortgage for cashflow goals
- Consolidate highinterest debt responsibly (when appropriate)
- Access equity through a bank statement cashout refinance (program dependent)
Cashout refinance is commonly used for:
- Home improvements
- Business liquidity (case by case)
- Paying off highinterest obligations
- Building reserves for stability
Increase your chances of approval with our free guide
Download our free eBook below to learn the ins and outs of bank statement loans and everything you need to know to apply and qualify for your loan in Florida.
