Question 1

I run an import-export, freight-forwarding, or logistics business tied to PortMiami or MIA. My tax returns don't show what the business actually makes. Can bank statements work?

Accepted Answer

Yes, and that's the profile this loan is built for. Trade, transportation and utilities was Miami-Dade's single largest job sector in June 2026 at 327,700 jobs, 24.3% of total nonfarm employment, anchored by PortMiami (8,564,225 cruise passengers and 1,115,058 cargo TEUs in the port's most recently reported year) and Miami International Airport (55.3 million passengers and 3.45 million cargo tons in calendar 2025, freight up 13.6% year over year). A self-employed operator in that trade economy often has a tax return shaped by depreciation and write-offs rather than actual cash flow. We read 12 to 24 months of bank deposits instead, so the real revenue carries the file.

Question 2

My income comes from an international business or cross-border trade, and it doesn't fit neatly into a single tax return. Does that work here?

Accepted Answer

It's a common file in this county, and we can work with it. International migration accounted for 54,204 people moving into Miami-Dade in the year to July 2025, the county's only positive migration component while domestic out-migration ran 72,254 the same year, and Miami is the leading U.S. market for foreign residential buyers: MIAMI REALTORS reported Miami-Dade at $3.2 billion, 73% of a $4.4 billion South Florida foreign-buyer total, for 2025. Self-employed, commission, and cross-border-income borrowers show up in this market more than in most. We qualify on your bank deposits, not on how a foreign-sourced or multi-entity income stream happens to land on a 1040.

Question 3

My tax returns look thin because of depreciation and write-offs on Miami-Dade rental properties I already own. Will that hurt me here?

Accepted Answer

No, that's exactly the file this loan is designed to look past. A non-homestead investor's Miami-Dade rental portfolio runs on the 10% non-homestead assessment cap, never a homestead cap, and that cap resets to full market value on every sale, so a portfolio can carry real depreciation and real capital cost without reflecting real cash flow. We qualify on 12 to 24 months of bank deposits, not the bottom line your CPA reports. If it's the rent from one specific property, rather than your personal or business deposits, that needs to carry the file, a DSCR rental loan qualifies on the property's rent instead.

Question 4

How do Miami-Dade's insurance and property tax costs affect what my bank statement deposits need to cover?

Accepted Answer

More than in almost any other Florida metro, so we look at the real number, not an estimate. As of March 2026, the average Miami-Dade homeowners premium including wind was $5,975, and a condo unit owner policy averaged $2,801, both well above Orange County, home to Orlando, at $3,610 and $1,295. Non-homestead property tax runs from 15.51 mills in Key Biscayne to 24.00 mills in Opa-locka, depending on the city. On a self-employed file we're already reading your actual deposits instead of a tax return, so we can size reserves against the real premium and millage for your specific address rather than a metro average.

Question 5

I'm self-employed and hold rental properties across several Miami-Dade cities, each with different tax and rental rules. Does a bank statement loan still work across all of them?

Accepted Answer

Yes, the loan qualifies you, not the city. Miami-Dade's 2025 millage runs from 15.51 mills in Key Biscayne to 24.00 mills in Opa-locka, and short-term rental rules are set three different ways in the same county: unincorporated Miami-Dade licenses vacation rentals under county code section 33-28, Miami Beach defines short-term as anything less than six months and one day and bars it in all single-family homes and many multifamily zoning districts, and City of Miami rules turn on the parcel's zoning and haven't been confirmed at a primary source. A self-employed investor administering several of those regimes at once is a normal file here. We read your bank deposits for qualification, and if you're financing several properties at once, a portfolio loan can blanket them under one loan instead of one at a time.

Question 6

What is a bank statement loan, and how is it different from a no-doc loan?

Accepted Answer

A bank statement loan qualifies you on 12 to 24 months of business or personal bank deposits instead of tax returns, which suits self-employed borrowers whose returns understate their real income. A no-doc (or no-ratio) loan goes further and leans on the property and your reserves rather than any income calculation. Both are business-purpose loans for investment property, not consumer mortgages.

Question 7

Do I really not need tax returns or W-2s?

Accepted Answer

Correct. We do not ask for tax returns, W-2s, or pay stubs on these programs. We verify the deal, your credit, and either your bank-statement cash flow or your reserves, depending on the structure. It is built so write-offs and a complex return do not work against a strong borrower.

Question 8

Who is a bank statement or no-doc loan best for?

Accepted Answer

Self-employed investors, business owners, and 1099 or commission earners whose write-offs shrink their taxable income. If your bank deposits tell a stronger story than your tax return, this is usually the right fit.

Question 9

What credit score and down payment do I need?

Accepted Answer

We lend from a credit score of 640, with the best terms going to stronger credit, and a down payment starting around 20%. Across the market these programs often want 660 or higher and 20% to 30% down. Stronger credit and more equity improve both your rate and your leverage.

Question 10

What rates and terms can I expect?

Accepted Answer

Pricing is higher than a fully documented conventional loan because the lender takes on more uncertainty, and it varies with your credit, leverage, and the structure. We offer both short-term and long-term options, so we match the term to whether you are flipping, bridging, or holding.

Question 11

Can I close in an LLC?

Accepted Answer

Yes. These are business-purpose loans and routinely close in an LLC or other entity. Holding investment property in an entity is standard and often preferred.

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