Florida Stated Income Loans: Bank Statement Programs for Self-Employed Florida Investors
Florida’s economy generates more self-employed, high-income borrowers than almost any other state. The hospitality and tourism industry — hotels, restaurants, tour operators, charter fishing businesses, vacation rental operators — produces hundreds of thousands of business owners with genuine income that looks terrible on tax returns after depreciation, deductions, and seasonal variability. The construction industry that perpetually builds across South Florida employs contractors, subs, and developers who structure their companies to minimize taxable income. The real estate industry itself — agents, brokers, property managers — routinely shows high gross income and low net income after legitimate business expenses. Stated income bank statement programs are the primary mortgage tool for this massive segment of Florida’s investment community.
MKK Capital arranges stated income financing for Florida investment properties through our private capital network. Programs are available for self-employed borrowers, LLC-structure investors, and small business owners whose actual cash flow exceeds what any tax return suggests.
Florida Stated Income: How Bank Statements Work vs. How Tax Returns Fail
A Miami restaurant owner deposits $85,000/month in business revenue. After food cost, labor, rent, equipment depreciation, and every legitimate deduction, the Schedule C shows $28,000 net income. A conventional lender sees $2,333/month qualifying income — which qualifies for almost nothing. A bank statement lender looks at $85,000/month in deposits, applies a 40–50% expense ratio, and arrives at $42,500–$51,000/month qualifying income — which qualifies for a very significant loan. The bank statement program reflects the economic reality. The tax return reflects the tax optimization strategy. These are two different documents with two different purposes, and only one of them should determine mortgage eligibility for a self-employed borrower.
Florida Stated Income Program Options
Personal bank statement (12 or 24 months): Uses personal account deposits. Works well for sole proprietors, freelancers, and self-employed individuals who run income primarily through personal accounts. Expense ratio applied is typically 50% for service businesses.
Business bank statement (12 or 24 months): Uses business account deposits. Works well for LLC and S-corp owners where income flows through the business first. Expense ratio is industry-dependent — lower for service businesses (30–40%), higher for product/inventory businesses (50–60%).
1099 income programs: For independent contractors, real estate agents, and gig workers who receive 1099 income. Lenders use 1099 totals (not Schedule C net) to calculate qualifying income, with a standard expense reduction. Very effective for Florida real estate agents and insurance professionals.
P&L only programs: CPA-prepared current-year P&L used in lieu of tax returns. Requires CPA attestation. Works best when the current year is significantly stronger than the last filed return.
Florida Stated Income Loan FAQ
I’m a Miami real estate agent with $350,000 in gross commissions but only $62,000 in net income on my return. How does the 1099 program work?
Under a 1099 income program, the lender uses your total 1099 commission income ($350,000) and applies a standard business expense reduction (typically 50%, producing $175,000 qualifying income) rather than accepting the Schedule C net figure. Some programs use 70–80% of 1099 gross income as qualifying income without a detailed expense analysis. At $175,000 qualifying income, your debt service ratios work for a substantial Florida investment property loan — which the $62,000 net income figure would have prevented entirely under conventional underwriting.
I own vacation rentals in Destin that I manage myself. Is my Airbnb income considered self-employment income?
Yes. Active STR management income reported on Schedule C is treated as self-employment income. If you manage properties yourself and report STR income on Schedule C with business deductions, a bank statement program can use your deposit history from the STR business to qualify you for additional investment property financing. This is different from passive rental income (Schedule E), which is treated differently and cannot generally be used for stated income bank statement qualification — but active management income can.
Submit Your Florida Stated Income Scenario
Share your business type, years self-employed, approximate monthly deposits, target Florida property and loan amount. Real estate agents: include your average annual 1099 commission. STR operators: indicate whether you actively manage or use a property manager. Initial terms within 24–48 hours.