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The Best Florida Bank Statement Loan Rates: May 2025

Updated: Jun 25

The Best Florida Bank Statement Loan Rates: February 2024

The current interest rates for bank statement loans in Florida are catching many eyes, ranging from 6.375%* to 7.875%*. This is crucial for homebuyers, real estate investors, and realtors. They rely on bank statement loans to get financing.


These loans offer a rare chance for self-employed borrowers. They also help those with non-traditional income to qualify for a mortgage. Unlike conventional loans, bank statement mortgages allow applicants to use personal or business bank statements. They use these instead of tax returns to prove their income.


This flexibility means more people can get into the home of their dreams or invest in valuable property ventures. However, interest rates vary widely. So, shopping around and finding a lender offering competitive rates is important.


Choosing the right interest rate can greatly impact your monthly mortgage payments. It also affects the total cost of your loan over time.



Key Takeaways


 Current Florida Bank Statement loan rates range from 6.375 (APR: 6.438%) - 7.875% (APR: 8.038%)* as of May 20th, 2025.


 Factors that affect Bank Statement loan rates include the lender, down payment, credit score, and loan term.


 Calculating Bank Statement income involves steps such as adding up all business deposits the last 12 - 24 months.


 Bennett Capital Partners works with top lenders offering competitive Bank Statement loan rates in 2025



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Understanding Bank Statement Loan Rates


Bank statement loan rates often start higher than those for traditional mortgages. This is because lenders see these loans as riskier. They use your personal or business bank statements to figure out how much you can borrow, instead of looking at tax returns or W-2 forms.


Since this method doesn't give a full picture of your financial stability, banks charge more to cover their risks.


Rates for bank statement loans adjust every few months or depending on market changes based on the SOFR. So, it's crucial to understand how future payments might change. If the rate goes up, so does the cost of your loan; if it drops, you pay less.


Working with a mortgage lender who offers low rates and understands the self-employed market can help keep costs low.


The thought of buying a home seemed daunting, especially as a freelancer with a non-traditional income. However, Bennett Capital Partners turned this dream into a reality by securing a bank statement loan with a rate that fit my unique financial situation perfectly. Their guidance and support throughout the process were invaluable." Alex R., Orlando, FL

📞 Give Us A Call Today 1-800-457-9057



Exploring the Best Bank Statement Loan Rates for Florida 2025


Finding the right bank statement loan rates in Florida for 2025 requires knowledge and strategy. Homebuyers, real estate investors, and realtors should know that the DSCR loan interest rates currently range between 6.375% to 7.875%*.


This variance shows there's room to navigate for better deals. Lenders in Florida offer bank statement loans for self-employed people. They provide stated income loans and reduced documentation mortgages.


These options make it easier to qualify based on your bank statements rather than traditional income proofs.


To secure the best rate, use tools designed to explore mortgage interest rates you can expect during the homebuying process. Comparing these offerings helps find where value meets opportunity. This is a crucial step in getting low bank statement mortgage loan rates.


Remember, each lender evaluates risk differently. So, showing many months of personal and business bank statements could greatly affect your offered rate.

Working with a good mortgage broker expands options. They use their network and expertise to find competitive offers that fit your finances.



Tips for Finding the Best Bank Statement Loan Rates Today


Getting the best bank statement loan rates requires a mix of strategy and keen insight. Explore our guide for tips to secure your optimal rate.


Researching and comparing loan offerings


Finding the best bank statement loan rates involves careful research and comparison. Homebuyers, real estate investors, and realtors should look at different lenders' offerings. They should do this to find the best terms.


Tools and expert evaluations provide insights into mortgage and refinance rates for January 2025 in Florida. Use these resources to compare loans based on interest rates, loan amounts, and other crucial factors.


Working with reputable mortgage brokers can also streamline this process. They know about many mortgage programs. This includes ones for self-employed people. They are a valuable asset in your search.


Brokers can help you qualify for a bank statement loan. They do this by using personal or business bank statements instead of traditional income documents. This way, you get access to competitive non-QM (non-qualified mortgage) options tailored to your financial situation.


Working with a reputable mortgage broker


A reputable mortgage broker can make a big difference. They have experience and connections with various lenders offering bank statement loans. This means they can help you find the best rates for your home loan based on your unique situation, such as being self-employed or needing a non-qm loan.


They know about many mortgage options. These include ones based on personal and business bank statements. Their knowledge is invaluable.


These brokers also help navigate the application process for a bank statement loan. This makes it smoother and faster. Using their services increases your chances of getting approved for a mortgage. You use bank statements, not traditional income verification methods.


They understand the good and bad of bank statement loans. They will ensure you get a deal that fits your needs. They will do this while considering top-rated Florida lenders.

These lenders are recognized by U.S. News for being credible and reliable.



Conclusion


Finding the right bank statement loan in Florida doesn't have to feel like a treasure hunt. Interest rates for May range from 6.375% to 7.875%*, appealing to both self-employed individuals and those seeking nontraditional mortgages.


Remember, the best rate depends on comparing offers. Work closely with trusted professionals who understand your needs. Dive deep into your research and choose wisely; after all, the perfect loan could be just around the corner, ready to make your Florida home dreams come true.


Your ideal mortgage awaits!


As a real estate investor, I'm always looking for efficient financing options. Bennett Capital Partners exceeded my expectations by offering me a bank statement loan with an excellent rate, facilitating my latest investment in Tampa. Their expertise and personalized approach made all the difference." Samantha P., Tampa, FL

📞 Give Us A Call Today 1-800-457-9057



FAQs


What is a bank statement loan?


A bank statement loan allows self-employed workers to use their personal or business bank statements. They use these instead of tax returns. They use these statements to prove they can afford a mortgage. Lenders look at 12-24 months' worth of your bank statements to make this decision.


How do I apply for a Florida bank statement loan if I'm self-employed?


To get started, gather your last 12-24 months’ worth of personal or business bank statements. Then, find lenders in Florida that offer this kind of non-qualified mortgage loan. It's designed for self-employed people.


Are there different types of bank statement loans?


Yes! There are both personal and business bank statement loans.


What makes these loans different from traditional mortgages?


Bank statement loans are considered less traditional. They don't require tax documents for approval. Instead, these rely on multiple months' worth of your banking history to determine if you can manage monthly mortgage payments.


Do all lenders offer the same rates on Florida's best May 2025 Bank Statement Loans?


Nope! Rates for bank statement mortgages vary widely among lenders. They vary based on the risk they see in lending without standard proof of income documents like W-2s or tax returns. So, shopping around is key!


Will my credit score affect my ability to get a good rate on a Bank Statement Loan in Florida?


Absolutely. These loans let you prove income more flexibly. But, a good credit score still matters a lot. Lenders use it to set interest rates and terms for your home loan.


How do bank statement loans work?


Bank statement loans work by analyzing the deposits and cash flow shown on your bank statements. This analysis determines your income and ability to repay the loan.


What are the pros and cons of bank statement loans?

Bank statement loans have pros. They have flexible rules for self-employed borrowers. But, they also have cons. They may have higher interest rates than traditional mortgages.


How can I find the best bank statement loan rates?


To find the best bank statement loan rates, shop around and compare offers from different mortgage lenders. They specialize in offering bank statement loan programs.


What is a bank statement mortgage loan rate?


The rate for a bank statement mortgage loan is the interest rate for such a loan. It can vary based on the lender and the borrower's finances.


How can I qualify for a bank statement loan?


You need to meet three requirements for a bank statement loan. You need a good credit history and enough cash reserves. Also, your bank statements must show a pattern of deposits that proves your ability to repay the loan.


Can self-employed individuals get a bank statement loan?


Yes, freelancers can qualify for a bank statement loan. They must provide their business and personal bank statements to show their income and stability.





Philip Bennett, Licensed Mortgage Broker (NMLS 1098318)

Philip Bennett

(NMLS # 1098318)


Philip is the owner and Licensed Mortgage Broker at Bennett Capital Partners, LLC (NMLS #2046862). He earned a Bachelor’s degree in accounting and finance from Binghamton University and a Master's in finance from Nova Southeastern University. With more than two decades of industry leadership, Philip has successfully guided thousands of clients through complex mortgage transactions.


Learn more about Philip Bennett’s background on our Founder’s page. Whether you’re a first-time homebuyer or a seasoned real estate investor, we are here to help you reach your goals. Don’t wait - contact us today and let us help you find the right mortgage for your needs.



*APR Disclosure


The provided scenarios are based on a set of parameters including a loan amount of $600,000, a purchase price and appraised value of $1,000,000 which translates to 60% Loan-To-Value (LTV), a credit score of 800. The property in question is a single-family residence investment property. The interest rates cited, ranging from 6.375% to 7.875% with an APR of 6.438% to 8.038% respectively, are accurate as of May 20, 2025, and exclude broker compensation from Bennett Capital Partners. It is vital to recognize that mortgage rates are subject to daily changes based on market dynamics. Your actual payments may vary based on your specific circumstances and the prevailing rates during your agreement. Some mortgage products may not be available across all states due to diverse regulations. Additional restrictions may apply based on various factors. It’s imperative to note that Bennett Capital Partners may not have all your pertinent information; hence, the rate and payment results generated from this calculator may not accurately represent your actual scenario. At Bennett Capital Partners Mortgage, we extend a vast array of loan options to cater to different needs. There’s a possibility you may still qualify for a loan even if your situation diverges from our assumptions. For more accurate and personalized results, we strongly recommend reaching out to converse with one of our mortgage experts.


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No mortgage solicitation activity or loan applications for properties located outside the State of Florida can be facilitated through this site. This site is intended for residents seeking mortgage loan origination services for properties located exclusively within the State of Florida. Bennett Capital Partners Mortgage Brokers is licensed only in Florida.

These materials are independent of HUD, FHA, USDA, and VA; no government agency has reviewed, approved, or endorsed any content on this site. Third-party resources, links, and external information are provided for convenience and do not constitute endorsement by Bennett Capital Partners. Content is for general informational purposes only and does not constitute legal, tax, or investment advice; please consult qualified professionals for guidance specific to your circumstances.

Rate & Loan Program Disclosure: Advertised rates are samples only and vary based on credit score, loan amount, loan-to-value ratio, debt-to-income ratio, property type, occupancy, and other underwriting factors. Not all borrowers will qualify for advertised rates or loan programs. Bennett Capital Partners acts as a mortgage broker, working with multiple wholesale lenders to provide loan options - final loan approval and terms are determined by the chosen lender, not Bennett Capital Partners.

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