ITIN Florida Mortgage Lenders W No Tax Returns
YES, You Get a Mortgage with NO Tax Returns!
ITIN-Florida-Mortgage Lenders
Florida Mortgage Lenders specializes in ITIN 1099 and bank statement-only Florida mortgage loans for self-employed individuals and small business owners who cannot use their tax returns to qualify because they don’t show enough income for the mortgage they want. Check out our 3.5% Down ITIN mortgage lenders program, Our Florida ITIN 1099 and bank statement mortgage lenders offer alternative mortgage options for those who cannot qualify using their self-employed income. Whether you’re a business owner, freelancer, or contractor, we look forward to helping you qualify for a Florida mortgage by averaging your most recent year’s business or personal ITIN 1099 or bank statement income to qualify.
ITIN Bank Statement Mortgage Highlights:
- ITIN Full DOC- 90% aka 89% LTV min 720 Credit Score + 6 months reserves
- Loans from $150,000 to $4 million
- Two years of seasoning are required for foreclosure, short sale, bankruptcy, or deed-in-lieu
- Primary, second home, or investment properties
- Single-family, townhomes, or condos
- 12 or 24 months of business or personal bank statement submissions
- 1099 income option available
- Two years of self-employment are required
- Credit scores starting at 640
- 40-year fixed interest-only available
ITIN Seller Financing FHA Conditions
•Minimum 3.5% down payment up to FHA loan limits
• Borrowers facing credit challenges, 40-year amortization with an equity option.
• Seller must pay closing costs up to 6% if you don’t have closing costs.
• First-time homebuyers
• Self-employed individuals
• 1099 and gig workers
• Those relocating or starting a new job
• Recent college graduates
• Individuals with student loan debt
• ITIN/DACA borrowers
•A minimum credit score of 600 is required (ITIN borrowers are exempt from the credit score requirement)
•Roof under 10 years old appraisal must be – c3 or c4 condition, indicating a well-maintained property with some minor deferred maintenance or physical deterioration due to normal wear
89% Loan LTV ITIN Borrower Requirements:
- 720 FICO (at least two scores)
- One 24-month tradeline, or two 12-month tradelines
- 6 months reserves
- 12 months housing history
- 200% max payment shock
- 43% max DTI
- No Exceptions
ITIN Bank Statement / 1099 Mortgages
- Ideal for self-employed, Contractors, Gig workers, and Entrepreneurs.
- Traditional mortgage lenders analyze pages and pages of tax returns, looking for red flags.
- Underwriters focus and simpler documentation.
- Easier for non-traditional borrowers to use more qualifying Income!
ITIN Mortgages Are More Affordable:
- 10% Down Options – 4-6 months reserves – possible seller paid closing costs.
- A better option than claiming too much income on your tax returns.
- No Need to Amend Your Taxes! Instead, average 12/24 months deposits for income.
- No other documents like W2s, tax transcripts, or years of financial history.
- Fewer documents make it easier for self-employed borrowers and business owners to qualify.
Streamlined Process
- No Tax return, tax return. Florida mortgage lenders use ITIN bank statements to qualify!
- Use 12-24 months of ITIN bank statements.
- 1099 Only Florida mortgage lenders.
- Profit & Loss (P&L) statement for mortgage lenders.
Employment Documentation:
o Wage-Earning Borrowers
• Written Verification of Employment(VOE) requested by ITIN Mortgage Lenders verifying at least two years of employment and current income only (prior years’ income is not required). VOE must be completed and signed by the employer.
• If the business is family-owned, VOE must be completed and signed by the business’s CPA/Accountant/Tax Preparer.
• Satisfactory verification of the employer’s validity is to be completed by ITIN Mortgage Lenders. These would include, but are not limited to:
o Google search (or comparable search engine)
o Reverse phone search
o Corp/LLC search per State Registry
o Filed Articles of Organization/Incorporation, Operating Agreement, or Bylaws
ITIN Mortgage Lenders staff to make a notation/explanation on the 1008 is required if there are no returns when attempting an internet search.
o Self-Employed Borrowers – Business Income / Validation:
• Must be self-employed for at least 1 year and in the same line of business for at least 2 years.
• Business License / Registration / Certification / Credentials to be provided, if applicable.
• An internet search or other satisfactory verification of the business is required, with documentation to be included in the credit file to support the business’s existence. These would include, but are not limited to:
o Google search (or comparable search engine)
o Reverse phone search
o Corp/LLC search per State Registry
o Filed Articles of Organization/Incorporation, Operating Agreement, or Bylaw,s ITIN Mortgage Lenders staff to make notation/explanation on the 1008 is required if there are no returns when
attempting an internet search.
o Self-Employed Borrower – CPA/Accountant/Tax Preparer/Enrolled Agent – Income Verification
• CPA/Accountant/Tax Preparer/Enrolled Agent’s letter confirming:
• Length of relationship with borrower
• Borrower’s position/title
• Ownership percentage of the company
• Business inception date, and
• Statement on good standing of the borrower’s business
• CPA/Accountant/Tax Preparer/Enrolled Agent prepared 12-month Profit & Loss Statement
(P&L) for a period ending within 90 days of closing.
• Letter and P&L must be dated and signed on the accounting firm’s letterhead, evidencing the signer’s contact information, or completed using ITIN Mortgage Lenders’ Profit & Loss and Self-Employment Letter forms. A CPA/Accountant/Tax Preparer/Enrolled Agent must have a valid PTIN (preparer tax identification number). Letter and/or P&L must not contain any exculpatory language that may compromise the integrity of the information provided.
• CPA/Accountant/Tax Preparer/Enrolled Agent must have an existing relationship with the borrower for at least one (1) year or have filed the borrower’s most recent tax return. ITIN Mortgage Lenders reserves the right to request additional information, such as accepting a letter and P&L from a preparer with a shorter relationship history or from a preparer who did not file the borrower’s last tax return. This would be accompanied by a satisfactory explanation and supporting documentation establishing the accountant-client relationship. Examples may include but are not limited to: completing the borrower’s business IRS Form 941 for the most recent quarter, review of the last 12 months’ business documents to produce P&L, and intent to file next year’s
returns, etc.
• Satisfactory verification of business and CPA/Accountant/Tax Preparer/Enrolled Agent validity to
be completed and documented by ITIN Mortgage Lenders staff. Examples of verifications would include,e but
not be limited to:
