Fisher Island Self-Employed Mortgage Solutions

A bank statement mortgage is an ideal solution for self-employed borrowers on Fisher Island who want to maximize their purchasing power or refinance their mortgage. This program allows you to qualify based on business bank statements instead of traditional tax returns. You don’t need to own 100% of the business to qualify, making it a versatile option for many.

Fisher Island Self-Employed Home Loans in 2024

Self-employed borrowers on Fisher Island often face challenges when qualifying for a mortgage due to banks using tax returns to calculate income. Many business owners write off significant expenses, reducing their taxable income. However, the bank statement program, which has evolved over the past decade, offers a better solution. This program averages deposits into your business account over 12 or 24 months and applies an expense factor, typically 50%, to determine qualifying income. Some programs even allow up to 80% of deposits as qualifying income, providing more purchasing power.

Basic requirements include a minimum credit score of 580 and at least two years of self-employment. Down payment options range from 5% to 15%, depending on the property type and purpose (primary home or investment).

You should contact your local mortgage broker to find out details so you can make an informed decision.

Fisher Island Self-Employed Mortgage Pros and Cons


  • No tax returns required
  • Lower down payment compared to traditional bank options
  • Lower credit score requirements
  • Higher purchase price qualification


  • Minimum two years of self-employment
  • Requires 12 to 24 months of bank statements
  • Interest rates may be higher than traditional financing

Fisher Island Information Affecting Self-Employed Borrower
We provide self-employment loans throughout the state of Florida including but not limited to the areas below.


Fisher Island is a private island community in Miami, known for its exclusivity and luxury. It offers a unique living experience with a mix of high-end residential properties and top-notch amenities. The island is home to many self-employed individuals and entrepreneurs, making bank statement loans a popular choice.

The current mayor of Miami-Dade County, which includes Fisher Island, is Daniella Levine Cava. Here is a link to the county website: Miami-Dade County.

Did you know that Fisher Island is home to a small but affluent community? The island offers luxury amenities, no state income tax, a safe environment, and exceptional quality of life. Bank statement loans are popular here due to the significant number of self-employed residents.

Fisher Island has around 800 homes. For more demographic information, visit Census QuickFacts.

Fisher Island is known for its top educational institutions. Here are some helpful links:

Fisher Island boasts high-end dining options. For the best restaurants, visit Miami Eater.

When visiting Fisher Island, consider the historic Vanderbilt Mansion, a symbol of the island’s luxury and exclusivity. Learn more here: Vanderbilt Mansion.

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

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