Welcome to 1st Florida Lending

Our commitment is to serve all of our clients with the best loan programs and products as well as provide the best possible service available in today's market.

The 1st Florida Lending Team 

Frequently asked questions

Why cant I use my taxable income to qualify for a Mortgage?

The unfortunate truth is that most self-employed borrowers take advantage of write-offs that reduce your net taxable income which makes it tougher to qualify for a traditional FHA and conforming home loan. The bank statement loan programs allows us to approve home loans that don’t have to follow the ability-to-repay rule.

How Does a Bank Statement Loan Program Work?

We simply add up all of your monthly bank deposits over the past 12 and/or 24 months from your personal and or business bank statements to determine your qualifying monthly income to obtain a loan approval.

How About Down Payment Options?

The down payment requirements and interest rates are slightly higher with a bank statement loan vs a traditional mortgage loan. The maximum loan-to-value (LTV) for all bank statement loans using personal or business account deposits is 95% starting with a 720 credit score and 90% LTV with 680 credit score. We offer some business programs with a 500 credit score. The good news is since there are no pre-payment penalties with a bank statement loan. You can always come back in a year or two, after reporting more income on your taxes, and refinance into a conventional loan with a lower interest rate.

Why So Many Bank Statement Loan Programs?

Most lenders may offer only 1 or 2 bank statement loan programs with no fall back. We offer over 14 programs so in the event we cannot approve you or if you don't like the rate and terms of a paticular program. We have 14 more for you to choose from!

Is Approval for a Bank Statement Loan Program Easy?

Not every borrower’s credit score, credit history, financials and funding sources are the same. So its easy to become frustrated and confused when trying to determine what self-employed bank statement loan scenario would collectively meet with your expectations and budgets. At 1st Florida Lending Corp , Our experienced and knowledgeable team of loan officers, coordinators and processors will take all that confusion and uncertainty out of the already stressful loan selection process.

Why a Bank Statement Loan?

Our Self-Employed Bank Statement programs are rapidly becoming the loan of choice for self- employed business owners, independent contractors and W-2 wage earners who have a good cash flow and payment history, but show a reduced taxable income as a result of high deductions, recent mortgage events e.g. Bankruptcy, Foreclosure, Short Sale Seasoning & Deed in Lieu and/or other personal credit issues. We offer bank statement programs with low FICO entries, (* Rates Starting in the 4’s and Down Payments as low as 5%)

How Fast Can you Close a Bank Statement Loan?

Generally speaking, personal and W-2 bank statement borrowers purchasing a primary residence with good credit, strong financials and no credit events average 25 to 30 days to receive a clear-to-close from underwriting. However, bank statement loans using personal bank statements can take 30 to 35 days and bank statement loans using business account deposits is a little more complex may take up to 35 to 45 days depending on documentation verification.

What is the differance between a Direct Lenders vs. a Mortgage Broker

As Direct Mortgage Lenders, we can offer loans direct to borrowers and/or together with our wholesale partners without extra brokers fees and at no extra cost to you! With 14 bank statement programs options available. We are your one-stop source for almost any loan scenario!

** 500 FICO programs are available for certain non-owner-occupied business bank statement loans only 

In addition to bank statement loans we offer Conventional,  FHA, VA, USDA, Condo, Non Warrantable Condo, Investment & Condotel (Condo Hotel) Financing for the entire state of Florida and the following cities.

  • Alachua

  • Altamonte Springs

  • Anna Maria

  • Apalachicola

  • Apopka

  • Atlantic Beach

  • Auburndale

  • Aventura

  • Avon Park

  • Bal Harbour

  • Bartow

  • Bay Harbor Islands

  • Boca Raton

  • Bonita Springs

  • Boynton Beach

  • Bradenton

  • Brooksville

  • Cape Canaveral

  • Cape Coral

  • Casselberry

  • Celebration

  • Chipley

  • Cinco Bayou

  • Clearwater

  • Clewiston

  • Cocoa

  • Cocoa Beach

  • Coconut Creek

  • Coral Gables

  • Coral Springs

  • Crystal River

  • Dania Beach

  • Davie

  • Daytona Beach

  • Deerfield Beach

  • DeFuniak Springs

  • DeLand

  • Delray Beach

  • Deltona

  • Destin

  • Dunedin

  • Eagle Lake

  • Edgewater

  • Edgewood

  • Eustis

  • Fort Lauderdale

  • Fort Meade

  • Fort Myers

  • Fort Myers Beach

  • Fort Pierce

  • Fort Walton Beach

  • Fruitland Park

  • Gainesville

  • Greenacres

  • Green Cove Springs

  • Gulf Breeze

  • Gulfport

  • Haines City

  • Hallandale Beach

  • Hawthorne

  • Hialeah

  • Hialeah Gardens

  • Highland Beach

  • Hollywood

  • Holly Hill

  • Holmes Beach

  • Homestead

  • Hypoluxo

  • Indialantic

  • Jacksonville

  • Juno Beach

  • Jupiter

  • Key Biscayne

  • Key West

  • Kissimmee

  • LaBelle

  • Lady Lake

  • Lake Alfred

  • Lakeland

  • Lake Mary

  • Lake Park

  • Lake Wales

  • Lake Worth

  • Lantana

  • Largo

  • Lauderdale By The Sea

  • Lauderhill

  • Leesburg

  • Lighthouse Point

  • Longboat Key

  • Longwood

  • Maitland

  • Marco Island

  • Margate

  • Melbourne

  • Melbourne Beach

  • Miami

  • Miami Beach

  • Milton

  • Minneola

  • Miramar

  • Mount Dora

  • Naples

  • Neptune Beach

  • New Port Richey

  • New Smyrna Beach

  • Niceville

  • North Miami

  • North Miami Beach

  • North Port

  • Oakland Park

  • Ocala

  • Ocean Ridge

  • Ocoee

  • Okeechobee

  • Oldsmar

  • Orange Park

  • Orlando


  • Ormond Beach

  • Oviedo

  • Palatka

  • Palm Bay

  • Palm Beach

  • Palm Beach Gardens

  • Palm Coast

  • Palmetto

  • Panama City

  • Panama City Beach

  • Pembroke Pines

  • Pensacola

  • Pinecrest

  • Pinellas Park

  • Plant City

  • Plantation

  • Pompano Beach

  • Ponce Inlet

  • Port Orange

  • Port St. Lucie

  • Punta Gorda

  • Rockledge

  • Royal Palm Beach

  • St. Augustine

  • St. Augustine Beach

  • St. Cloud

  • St. Pete Beach

  • St. Petersburg

  • Safety Harbor

  • Sanford

  • Sanibel

  • Sarasota

  • Satellite Beach

  • Seaside

  • Sebastian

  • Sewall's Point

  • Shalimar

  • Stuart

  • Surfside

  • Tallahassee

  • Tamarac

  • Tampa

  • Tarpon Springs

  • Tavares

  • Temple Terrace

  • Titusville

  • Treasure Island

  • Valparaiso

  • Venice

  • Vero Beach

  • Wellington

  • West Melbourne

  • West Palm Beach

  • Weston

  • Wilton Manors

  • Winter Garden

  • Winter Haven

  • Winter Park

  • Winter Springs