Golden Beach Self-Employment Home Loan
Golden Beach Self-Employed Mortgage Solution
A bank statement mortgage is ideal for Golden Beach self-employed borrowers looking to maximize purchase power, cash out, or refinance. This program is for those qualifying based on business bank statements rather than traditional tax returns, offering more accurate income assessments.
Golden Beach Self-Employed Home Loans in 2024
Self-employed borrowers often face challenges with traditional loan qualifications due to income write-offs on tax returns. However, the bank statement program evaluates business deposits over 12 to 24 months, offering a realistic income view and potentially higher loan amounts.
Requirements include a minimum credit score of 580 and two years of self-employment. Down payments range from 5% to 15%.
Golden Beach Self-Employed Mortgage Pros and Cons
Pros:
- No tax returns required
- Low down payments
- Lower credit score requirements
- Higher purchase price qualification
Cons:
- Minimum two years of self-employment
- 12 to 24 months of bank statements needed
- Slightly higher interest rates
Golden Beach Information Affecting Self-Employed Borrowers
Golden Beach is a small, exclusive coastal town with a population of around 1,000 residents. It is located on the eastern coast of Florida, north of Miami. Known for its luxurious oceanfront homes and private beach access, Golden Beach attracts affluent individuals seeking privacy and exclusivity.
For more information on available loans and mortgage options in Golden Beach, contact your local mortgage broker.
Coral Gables • Doral • Hialeah • Aventura
Key Features:
- Population: Approximately 1,000 residents.
- Luxury Living: High-end properties with private beach access and modern amenities.
- Proximity to Miami: Close to Miami’s cultural, business, and entertainment hubs.
- Real Estate Market: Strong market with high property values and potential for appreciation.
Golden Beach’s exclusive lifestyle and proximity to Miami make it a prime location for real estate investment, which can be particularly advantageous for self-employed borrowers looking to leverage mortgage programs such as bank statement loans, DSCR loans, or 1099 loans.
For more information on available loans and mortgage options in Golden Beach, contact your local mortgage broker.
Up To 90% LTV | Loan To Value | No Mortgage Insurance | Credit Scores Starting At 600
- Loans up to 10 million with 200k minimum loan amount
- 10% down on primary home purchase up to 3 million, NO mortgage insurance
- Two year self-employed required
- 12 to 24 month business or personal bank statements
- 30, 20, 15 year fixed or ARM available
- Interest only products available
- Purchase, cash out or rate and term refinancing
- Owner occupied, second homes and investment available
- Non-Warrantable condos allowed
- Two years seasoning for foreclosure, short sale, bankruptcy or deed in lieu
- Borrower can own as little as 50% of the business for the business bank statement mortgage and 25% for personal bank statements
