Income is calculated by reviewing 12 or 24 months of bank statements.

Depending on the program:

⦿ Personal bank statements may use 100% of qualifying deposits

⦿ Business bank statements typically use a percentage of deposits (to account for expenses)

The exact calculation depends on whether you use personal or business accounts and the lender’s guidelines.

Credit score requirements are generally more flexible than conventional loans, but typically higher than FHA.

Most programs start around 620–660, though better rates and terms are available with higher credit scores.

Down payment requirements vary but are typically:

⦿ 10%–20% for primary residences

⦿ Higher down payments may be required for second homes or investment properties

Rayce Robinson and his team will help structure your loan to balance rates, down payment, and long-term affordability.

Bank statement loans usually have slightly higher interest rates than conventional or government-backed loans due to increased flexibility and alternative documentation.

Many borrowers still choose this option because it allows them to:

⦿ Qualify when traditional loans are not possible

⦿ Purchase sooner rather than waiting years to “clean up” tax returns

⦿ Refinance into a conventional loan later if desired

Yes. Many Florida borrowers refinance into a conventional loan once:

⦿ Their tax returns reflect higher income

⦿ Their credit improves

⦿ They build additional equity

We can help you plan both the short-term solution and the long-term exit strategy.