Bay Harbor Islands Mortgage Solutions

Bay Harbor Islands, a prestigious community nestled between Miami Beach and the mainland, offers specialized mortgage solutions tailored for self-employed borrowers looking to maximize purchasing power, cash out, or refinance. If you’re seeking qualification based on business bank statements rather than traditional tax returns, our bank statement mortgage program is designed to meet your needs. You don’t need to own 100% of the business to qualify, allowing underwriters to assess the true cash flow of your business, which can enhance your eligibility for higher loan amounts.

Bay Harbor Islands Self-Employed Home Loans

Self-employed borrowers in Bay Harbor Islands have often faced challenges with traditional bank lending criteria that rely solely on tax returns, which may not accurately reflect their actual income after deductions. Our bank statement program in Bay Harbor Islands, established a decade ago and regularly updated, evaluates the average deposits into your business account over 12 or 24 months. An expense factor, typically around 50%, is applied to account for business costs. Recent enhancements allow borrowers to potentially use up to 80% of their deposits as qualifying income, depending on their business type. This flexibility significantly increases purchasing power compared to traditional income verification methods.

Basic Requirements

Minimum requirements for the bank statement program include a credit score of at least 580 and a minimum of two years of self-employment. Down payment options range from 5% to 15%, depending on the property type and its intended use (primary residence or investment).

Bay Harbor Islands Self-Employed Mortgages Pros and Cons


  • No Tax Returns Required: Qualify based on business bank statements instead.
  • Lower Down Payments: Options available with down payments as low as 5%.
  • Lower Credit Score Requirements: Minimum credit score requirement is 580.
  • Potential for Higher Purchase Price: Enhanced eligibility for higher loan amounts.


  • Minimum 2 Years of Self-Employment: Requires a documented history of self-employment.
  • Full Bank Statement Documentation: Complete 12 to 24 months of business bank statements required.
  • Slightly Higher Interest Rates: Rates may be marginally higher than traditional financing options.
  • Limited Availability: Not all lenders offer bank statement loans.

Discover Bay Harbor Islands

Did you know that Bay Harbor Islands comprises two islands, West and East, offering picturesque waterfront views and a serene residential atmosphere? Conveniently located near Aventura and Bal Harbour, Bay Harbor Islands provides easy access to luxury shopping, dining, and entertainment options, including the renowned Bal Harbour Shops.

For more information about living and financing in Bay Harbor Islands, explore these resources:

Up To 90% LTV | Loan To Value | No Mortgage Insurance | Credit Scores Starting At 600

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