Self-employed mortgage loans Florida borrowers apply for often come with challenges that traditional lenders struggle to solve. Business owners, independent contractors, and entrepreneurs rarely fit neatly into standard underwriting boxes. Income looks different. Tax returns are complex. Cash flow does not always tell the full story.

At North Star Mortgage Network, we believe self-employed borrowers deserve better options. That is why we offer our Smart Self Non-QM loan programs, designed specifically for real-world income scenarios.

If you are self-employed and have been told “no” by a bank, this guide explains how you may still qualify.

Why Self-Employed Mortgage Loans Are So Difficult

Traditional mortgage guidelines rely heavily on tax returns. For self-employed borrowers, that often creates problems.

Common issues include:

• Not showing enough taxable income
• Multiple businesses or entities
• Heavy write-offs that reduce net income
• Less than two full years of self-employment
• Complex K-1s, Schedule Cs, or partnerships

Banks look at what is reported to the IRS. Business owners focus on running a business and managing taxes. Those two priorities often conflict when applying for a mortgage.

This is exactly where self-employed mortgage loans Florida borrowers use Non-QM programs to bridge the gap.

What Makes Self-Employed Mortgage Loans Florida-Friendly with Non-QM?

Non-QM stands for Non-Qualified Mortgage. These loans are still fully documented and fully underwritten. They simply allow alternative methods of verifying income.

Instead of forcing tax returns to tell the entire story, Non-QM loans look at cash flow, deposits, and business performance.

Our Smart Self Non-QM programs are built to do exactly that.

Bank Statement Loans for Self-Employed Mortgage Loans Florida Borrowers

Bank statement loans are one of the most popular options for self-employed borrowers in Florida.

How Bank Statement Loans Work

• 12 or 24 months of personal or business bank statements
• No tax returns required
• Deposits are analyzed to calculate income

Expense Factors That Make a Difference

• As low as 15 percent expense factor with a CPA letter
• Default expense factor of 50 percent
• Higher qualifying income than traditional loans

At North Star Mortgage Network, we calculate your bank statement income before you submit the loan. That way, there are no surprises later in underwriting.

This approach alone helps many Florida business owners qualify for larger loan amounts.

1099 Income Options for Self-Employed Mortgage Loans Florida Clients

Many self-employed borrowers are paid on a 1099 basis. Traditional lenders often struggle with this income type.

Our Smart Self Non-QM 1099 program keeps it simple.

1099 Program Highlights

• Most recent 1099
• Year-to-date paystub
• Only a 10 percent expense factor

This structure is ideal for consultants, real estate professionals, sales professionals, and independent contractors with steady income.

P&L Loans for Self-Employed Mortgage Loans Florida Business Owners

Some borrowers have strong businesses but limited time in operation or complex tax filings.

That is where P&L-based loans can help.

P&L Program Guidelines

• Most recent 12-month profit and loss statement
• Signed by a CPA or licensed tax preparer
• Loans under $1 million require no supporting bank statements

This option works well for borrowers who want a streamlined approval process while still showing strong income.

One-Year Self-Employed Mortgage Loans Florida Borrowers Can Use

Many banks require two full years of self-employment. That does not always reflect reality.

If you recently became self-employed but stayed in the same industry, we may have options.

One-Year Self-Employed Program Requirements

• At least five years of prior employment in the same field
• Most recent 12 months of bank statements
• No full two-year self-employment history required

This program is ideal for professionals who transitioned from W-2 to self-employed without changing careers.

Why These Self-Employed Mortgage Loans Florida Programs Work

These programs work because they reflect how business owners actually operate.

They focus on:

• Cash flow
• Business stability
• Real income, not just taxable income

Every file is reviewed carefully. There is no automation or one-size-fits-all approach.

That is how we help Florida self-employed borrowers close loans that banks decline.

Florida Focus: Local Lending Matters

Florida’s self-employed population continues to grow. Contractors, medical professionals, real estate investors, consultants, and entrepreneurs are a major part of our local economy.

North Star Mortgage Network serves borrowers across:

• Jacksonville
• St. Johns County
• Duval County
• Clay County
• Nassau County
• Throughout the State of Florida

Local knowledge matters. Guidelines vary. Property types vary. Insurance and condo rules vary.

Working with a Florida-based mortgage professional makes a real difference.

How to Get Started with Self-Employed Mortgage Loans Florida Options

The first step is a simple conversation.

We review your income scenario upfront and guide you toward the right program before you apply. That saves time, protects your credit, and sets proper expectations.

If you are self-employed and want clear answers, reach out today.

Call or Text

904-613-7700

Posted in blog