Self-Employed Mortgage
in Fort Lauderdale

Self-Employed Mortgage in Fort Lauderdale Offered by Florida Local Mortgage Lenders

Owning a home is a goal many people want to achieve. Regardless of whether they are employed by the government or run their own start-up, people work hard to make their home a reality. Unfortunately, many don’t have the financial assets to make that happen. This is when specially designed loan programs and mortgages offer a solution.

Among these borrowers are those who are self-employed. Unlike for non-self-employed borrowers, it can be hard for people to get approved for a mortgage when they are self-employed. There are many reasons for this, including fluctuating income, income reflected on tax returns, and write-offs. In addition to that, there are other requirements that a self-employed borrower needs to fulfill for a successful application process.

We here at Florida State Mortgage Group are one of the leading mortgage lenders in Fort Lauderdale. Over our years of helping clients fulfill their dream of owning a home, we have gained sufficient expertise in providing a self-employed mortgage.

We focus on each client, making sure they find an appropriate solution to their financing needs. We try to find self-employed mortgage solutions with low rates and increased income consideration.

You can talk to one of our loan officers to find out your options for getting qualified to receive a self-employed mortgage in Fort Lauderdale.

Are 2 years’ worth of personal and business income tax
returns required for self-employed borrowers?

There is no simple yes or no answer to this question. The reality is that not all lenders and lending institutions require 2 years of documentation. For instance, government agencies like the FHA and VA do need 2 years of both personal and business income tax returns. On the other hand, the same loan programs may also offer more leniencies for other income considerations.

Unlike these, conforming and conventional loans require only a year’s worth of records of personal and business income tax returns for a self-employed mortgage. These are used to determine the borrower’s qualifying income for the mortgage.

What other requirements are considered for a self-employed mortgage in Fort Lauderdale?

In order to get approved for a self-employed mortgage, the borrower needs to prove that they can afford it. There are various requirements that lenders need to be fulfilled to prove stable earnings. Some of the other requirements for a self-employed mortgage in Fort Lauderdale include:

Business license for the company you’re self-employed at
Proof of maintaining regular ongoing business
An accountant
A sizeable down payment
Good credit score
A strong credit history
Purchase price of the house

The license and business maintenance are to validate the legitimacy of your business. A mortgage lender in Fort Lauderdale may require an accountant to put together your profit and loss statements along with required tax documentation.

Both credit score and credit history are beneficial for qualification. They communicate that you are financially responsible and will pay back your loan within the stated timeline. However, it is not the end-all of the application process.

Also, you’ll need a sizeable down payment, unlike mortgage applicants who are employed at other companies. This will mean that you will owe less money, which is less financially risky.

Lastly, the field of business you’re in and the type of company (sole proprietorship, partnership, LLC, or corporation) will also impact the decision.

What Our Clients Are Saying

Florida State Mortgage Group, Inc.

5.0

Based on 23 reviews

See all reviews Write a review

Scott Mason

02:17 22 Oct 22

Steve and his team did a fantastic job with my loan and I would highly recommend! They are extremely knowledgeable and professional and will certainly use them again! I have had a few other friends use Steve and they all have positive things to say. 5 stars!

Isabel Echeverry

13:54 08 Oct 22

Stephen and Betty over delivered not only my needs in securing a loan to purchase my dream house but we’re profferesional and courteous every step of the way. I am blessed to have had met them. Thank you GOD

James Basile

03:11 20 Nov 21

From my first call to Steve Mc William to the second we closed, it was the best service ever. I felt as if I were their only customer. Everything was top notch and professional.

Stephen Brathwaite

15:59 19 Nov 21

J C

21:36 13 Nov 21

Mr McWilliam was extremely thorough and informative. He even provided excellent advice on some other non related mortgage questions I had. He listened carefully to my goals and provided me with the best product for my financial situation. I have never met any one so thorough. Thank you.

Crystal Torres

14:04 12 Nov 21

angelo cedeno

21:26 08 Nov 21

Linda Rosen

19:27 18 Jan 21

Steve did a great job on our refi. Thanks for making it happen.

Lana Mihova

16:22 13 Feb 20

Stephen McWilliam was an amazing person to deal with. Our deal was pretty complicated on all aspects and he was so professional, he got it done !!! Thank you so much for all the hard work you put into this deal!!!

Erica Bethe Levin

16:21 22 Jan 20

Working with Steve and Florida State Mortgage Group was singlehandedly the best and most seamless part of buying our home. I could not recommend them more highly.

Charlie Crusher

14:45 14 Jan 20

Stephen went above and beyond to help me in my situation. Thank You 👍

Brian Mosher

15:02 13 Jan 20

Steve did a wonderful job securing a mortgage for me based on the parameters I gave and seeing everything through to completion. No hiccups for me along the way in a process that can be very painful if not managed well.

Shannon Dameron

01:34 12 Jan 20

Steve and the team at Florida State Mortgage Group are exceptional. I was looking for a townhouse for my family when Steve and his team were referred to me. Florida State Mortgage Group showed me I could easily afford a single family home. Steve handled everything from providing a list of homes, securing the home loan, insurance options and closing.I’ve referred Florida State Mortgage Group to friends and family. Each person has experienced the same level of knowledge and quality of service.5 STARS

Florida Guy

19:08 11 Jan 20

I was very pleased with Steve and the ease of the process. No hiccups or surprises. Highly recommended for mortgage services.

Michelle Vantine

17:20 08 Jul 19

I worked with Betty to buy my first house here in South Florida and I could not be happier! She was amazing. She was always available to answer my questions and she was very patient. She was extremely knowledgeable, even getting me approved for a HUGE tax exemption I will receive annually . She always had all the paper work ready on time and explained everything in detail. I could not image a better agent. I'm SO glad we made the decision to work with her. Thanks Betty!

Justin Pyka

16:01 08 Jul 19

Betty did an amazing job originating our loan. She is knowledgeable, accessible, and eager to provide the best for her clients. I HIGHLY recommend her!

Ganel Appolon

00:59 26 Feb 19

you guys are doing a great job keep it up.

Mike Heller

17:15 20 Feb 19

Natalie Rodriguez

20:59 12 Feb 19

We had a great experience with Florida State Mortgage Group. Would recommend them and will use them again in the future.

Sean Zamora

18:28 05 Feb 19

Steve McWilliam was a tremendous help in securing my mortgage a few years ago. He’s also been a great source of knowledge in the time since. I highly recommend him as someone you can trust.

Scott Yankton

17:42 04 Feb 19

The smartest, most helpful and insightful mortgage loan person I’ve ever used. On our first attempt to buy he saved us from disaster. On our second attempt he was finished and ready to close before everyone else! Our loan was a VA so we expected it to take extra time...nope. For our next loan we won’t use anyone else.

Mike McGraw

03:25 03 Feb 19

Knowledgeable, Professional and results oriented!!

Hugh Bruder

19:22 02 Feb 19

If your looking for a highly professional, easy to work with and lightning fast mortgage team, then Florida State Mortgage is for you.I wouldn’t go anywhere else for my mortgage needs.Hugh B.Davie, Florida

When it comes to getting a self-employed mortgage in Fort Lauderdale and other areas in Florida, each case is unique.

Give us a call today at (954) 359-3000 to find out what options are available to you, or click the button below to get started.

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Florida State Mortgage Group, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

(954) 359-3000

Self-Employed Mortgage
in Fort Lauderdale