Florida’s real‑estate market is as diverse as its landscapes. High‑priced coastal condos, suburban family homes and urban lofts provide opportunities for both home buyers and investors. In mid‑2025, the median closed price statewide was about $408,805, inventory climbed over 127,000 units and median days on market stretched to 74 days. This buyer‑friendly environment is ideal for self‑employed borrowers who rely on bank‑statement loans. The challenge is choosing the right lender and program, especially as requirements vary by region.
Bank‑statement loans allow borrowers to qualify using their 12–24 months of bank statements instead of W‑2s or tax returns. They’re part of a broader category of non‑qualified mortgages that offer flexible documentation, 15- or 30‑year terms, 5/1 or 7/1 ARMs, and often no private mortgage insurance (PMI). In Florida, lenders may count 100 % of personal deposits and 50 % of business deposits. Borrowers typically need a credit score of 620–700, a minimum down payment of 5–20 %, and 4–6 months of reserves.
Florida’s housing market trends vary by region. The table below highlights median home prices (Q1 2025) for major metros and indicates why bank‑statement loans may be advantageous:
Region (Q1 2025) | Median home price | Why bank‑statement loans help |
Miami–Dade/Broward | $560,000 | High prices and competitive bidding make flexible underwriting valuable; many buyers are self‑employed professionals and real‑estate investors. Bank‑statement loans allow them to qualify without tax returns. |
Fort Lauderdale | $530,000 | Luxury condos and waterfront homes attract entrepreneurs and retirees. Lenders like Select Home Loans and Fidelity Home Group offer programs up to 90 % LTV for qualified borrowers. |
Orlando | $410,000 | Tourism and gig‑economy employment create irregular income streams. Bank‑statement mortgages recognise cash‑flow reality and let buyers compete in a market with stable prices (0.03 % YOY). |
Tampa Bay | $385,000 | A robust rental market and growing tech sector attract freelancers and startups. Non‑QM lenders provide options with down payments as low as 5 %. |
Jacksonville | $365,000 | Affordable prices and strong population growth offer opportunities for small business owners; bank‑statement loans help them invest without extensive documentation. |
South Florida’s luxury and investment markets often require large loan amounts. Griffin Funding offers bank‑statement mortgages up to $20 million and accepts credit scores as low as 620. NQM Funding tailors programs for doctors and dentists, allowing up to 90 % LTV and interest‑only payments. Fidelity Home Group is headquartered in Florida and offers loans up to $5 million for condos, non‑warrantable condos and condotels. Select Home Loans serves the entire region and provides quick pre‑approvals and four‑day closings, making it a strong partner for competitive markets.
Orlando’s economy is driven by tourism, healthcare and tech. Many residents earn income from seasonal gigs or freelance contracts. Truss Financial Group accepts as little as 3 months of bank statements for well‑qualified borrowers and offers down payments as low as 5 %. Select Home Loans provides statewide coverage, so Central‑Florida borrowers can access the same programs as those in Miami or Tampa. Borrowers seeking high loan amounts may prefer Griffin Funding or Fidelity Home Group, while those needing flexibility on statement length might choose Truss.
Tampa’s mix of finance, logistics and healthcare sectors creates diverse income patterns. NASB offers conservative but competitive terms, requiring 700+ credit scores, 12 months of statements, and down payments around 10 %. Truss and Select Home Loans cater to lower down payments and faster closings. Tampa investors looking to purchase rentals or vacation properties may also consider DSCR loans offered by many of these lenders.
Jacksonville’s affordability and growing port economy attract entrepreneurs and military families. While fewer lenders advertise programs specific to this region, Select Home Loans and Fidelity Home Group operate statewide and handle North‑Florida transactions. Borrowers can use bank‑statement loans to purchase primary residences or investment properties with loan sizes ranging from $200,000 up to several million dollars. Griffin Funding and NQM Funding also lend across the state, though down payments and reserve requirements may be higher.
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Select Home Loans’ statewide reach makes it a convenient choice for borrowers in every Florida market. The company:
Because bank‑statement loans are non‑QM products, not every bank offers them. Select Home Loans fills that gap by focusing exclusively on flexible documentation mortgages and by partnering with investors to offer a range of products.
How do I choose the right lender? Evaluate your credit score, down‑payment funds and desired loan amount. If you need a large mortgage or have a high credit score, lenders like Griffin Funding or Fidelity Home Group may offer the best terms. If you require flexibility on credit or deposit duration, Truss Financial Group or Select Home Loans may be better.
Are bank‑statement loans available for condos and investment properties? Yes. Many programs finance condos, non‑warrantable condos and investment properties. NQM Funding also allows medical professionals to purchase second homes or investment properties.
Do interest rates differ by region? Rates primarily depend on credit score, loan amount and down payment. However, property taxes and insurance vary; coastal areas may require higher reserves due to hurricane risks. Always compare quotes from multiple lenders.
What should I watch for in HOA and insurance fees? In Florida’s condo markets, high HOA fees and hurricane insurance can increase your DTI. Lenders will factor these costs into qualification. Choose properties with reasonable dues or be prepared for higher reserves.
Bank‑statement loans empower self‑employed Floridians to purchase homes and investment properties without traditional income documentation. Whether you’re seeking a luxury condo in Miami, a suburban home in Orlando or an investment property in Jacksonville, several lenders offer programs tailored to your needs. Select Home Loans stands out for its statewide availability, fast closings and specialization in self‑employed mortgages. By understanding local market trends and comparing lenders, you can secure the right financing for your Florida dream.
👉 Learn more about flexible bank‑statement loans in Florida at Select Home Loans or click here to get a free quote.
