Florida Self-Employed Mortgage Loan | Requirements (2025)

Being your own boss in Florida comes with many perks, but it can make getting a mortgage feel complicated. The good news is, being self-employed won’t stop you from buying a home.

Florida offers special mortgage programs designed for business owners, freelancers, and independent contractors just like you.

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

In this guide, we’ll walk you through what you need to qualify, the benefits, and the best mortgage programs for self-employed homebuyers in Florida.

Can You Get a Mortgage in Florida if You're Self-Employed?

Yes! You can still get a mortgage in Florida if you're self-employed.

Banks and other lenders might ask you for extra paperwork to prove how much money you make.

But many lenders have special loans made just for people who work for themselves.

In Florida, lenders now make it easier for small business owners, freelancers, and gig workers to buy homes, even if your income changes from month to month or year to year.

Bottom Line: Self-employed Floridians can absolutely qualify for mortgages. The key is understanding the specific requirements lenders look for.

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

Florida Self-Employed Mortgage Requirements

Most mortgage lenders in Florida have specific guidelines for self-employed homebuyers:

• Self-employment history: Typically, two years in business or self-employed role.

• Credit score: Generally, 620 or higher for conventional loans; as low as 500 for FHA loans.

• Debt-to-income (DTI) ratio: Ideally below 43%; some lenders may allow up to 50%.

• Stable income: Lenders typically look for consistent or increasing income over the past two years.

• Down payment: Varies by loan type—typically between 3% (conventional loans) and 3.5% (FHA loans).

Even if you don't have two years of self-employment history, you might still qualify if:

• You’ve been self-employed for one year but worked previously in a related field with comparable income.

• You have one year of self-employment plus formal education/training in your current field.

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

How Do Lenders Calculate Self-Employed Income?

In Florida, lenders don’t just look at how much you made last month, they usually average your income over the past two years to account for the ups and downs that come with self-employment. They also look at your net income after expenses, not just your total revenue.

To calculate this, lenders typically use your federal tax returns, focusing on IRS forms like Schedule C (for sole proprietors) or K-1 (for business owners). They'll also add back certain deductions, like depreciation, because it’s not a real cash expense.

Let’s say you’re a freelance graphic designer and your last two years of income looked like this:

• 2023 net income (from Schedule C): $60,000

• 2024 net income (from Schedule C): $70,000

The lender would average the two:
($60,000 + $70,000) ÷ 2 = $65,000/year or about $5,416/month

If you had a one-time expense that made your 2023 income unusually low (like buying new equipment), the lender might consider that and use just the most recent year — but only if you can clearly explain it and meet their requirements.

Lenders want to see steady, reliable income. The more consistent your earnings, the better your chances of qualifying.

How Much House Can a Self-Employed Buyer Afford in Florida?

5 Best Mortgage Programs For Self-Employed Borrowers

We've compiled a comprehensive list of all mortgage & assistance programs for self-employed & 1099 homebuyers in Florida.

Here are the five best from our list:

1. Bank Statement Mortgage

Type: Non-QM Mortgage
Who It’s For: Self-employed buyers with strong bank deposits and low taxable income
How It Works: Lenders use 12–24 months of bank statements (instead of tax returns) and average monthly deposits to calculate income (usually counting 50–100%).
Requirements: 620–680+ credit score, 10–20% down, 12–24 months bank statements, 1–2 years self-employment
Where It’s Available: Nationwide (non-QM lenders)
Best For: Buyers with heavy write-offs, irregular income, or large bank deposits

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

2. 1099-Only Mortgage

Type: Non-QM Mortgage
Who It’s For: Independent contractors and gig workers with 1099 income
How It Works: Lenders use 1–2 years of 1099 forms instead of tax returns; many accept 90–100% of gross 1099 income.
Requirements: 620+ credit score, 10–20% down, 12–24 months of 1099s, some cash reserves
Where It’s Available: Nationwide
Best For: Contractors, gig workers, and freelancers who underreport income on taxes

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

3. One-Year Self-Employment Loan

Type: Freddie Mac Conventional or Non-QM
Who It’s For: Buyers self-employed for one year with prior experience in the same field
How It Works: Allows approval with just one year of tax returns if previous employment was in a related role
Requirements: 680+ credit score, strong reserves, AUS approval or lender discretion
Where It’s Available: Nationwide
Best For: Newly self-employed professionals with strong income

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

4. Co-Borrower Strategy (with FHA or Conventional)

Type: Co-Applicant on Standard Loan
Who It’s For: Buyers who don’t qualify on their own income
How It Works: A creditworthy co-borrower (like a spouse or parent) is added to strengthen the application with their income
Requirements: Co-borrower must meet credit and DTI guidelines
Where It’s Available: Nationwide
Best For: Self-employed buyers with family willing to co-sign

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

5. FHA Earned Equity Program

Type: Lease-to-Own with FHA-Backed Purchase (via Tribal or Government Entity)
Who It’s For: Self-employed and 1099 buyers who can afford payments but don’t currently qualify for a mortgage
How It Works: A nonprofit or tribal agency buys the home with an FHA loan; the buyer leases with an option to assume or refinance later. Payments may build equity and mimic a mortgage structure.
Requirements: 580+ credit preferred (flexible), 3.5%+ down, 12-month housing history, alternative income docs allowed, home must meet FHA standards
Where It’s Available: Select states (e.g., Florida, Texas)
Best For: New business owners, gig workers, or ITIN buyers seeking a path to ownership

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

Best Down Payment Assistance Programs in Florida

Florida homebuyers have access to dozens of assistance options—but these five stand out for offering the most generous benefits, broad eligibility, and long-term affordability.

1. Florida Hometown Heroes

• Up to $35,000 in assistance

• For first-time buyers working in essential roles (nurses, teachers, firefighters)

• Min. 640 credit score, income limits apply

• Homebuyer education required
  Best for: Essential workers buying in their community

2. Own a Home Opportunity Program

• Up to $10,000 as a deferred 0% loan

• No payments until you sell, refinance, or hit 30 years

• Available in select counties
  Best for: Buyers wanting flexibility and no monthly repayment

3. Miami-Dade Advocacy Trust Grant

• Up to $28,500 in forgivable assistance

• 0% loan forgiven after 20 years

• Must buy in Miami-Dade and meet income limits
  Best for: Long-term buyers in Miami-Dade

4. $50,000 Hallandale Beach Grant

• Up to $50,000 in assistance

• Forgiven after 10 years

• Available in Hallandale Beach CRA district
  Best for: Broward County buyers needing max assistance

5. SHIP Program

• Up to $25,000 as a deferred 0% loan

• Often forgiven after 10–15 years

• Available in counties like Escambia and Pensacola
  Best for: Buyers looking for local, long-term help

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer

Bottom Line: You Can Get a Mortgage While Self-Employed in Florida

Being self-employed doesn’t mean you have to settle for less when it comes to buying a home in Florida. Whether you're a freelancer, business owner, or gig worker, there are flexible mortgage options designed with your unique income in mind.

From bank statement loans to 1099-only programs—and even generous down payment assistance—Florida offers real solutions to help you qualify, even if your income isn’t traditional.

✅ Have less than two years of self-employment? There’s a loan for that.
✅ Struggling with tax write-offs? A lender can use your bank deposits instead.
✅ Need help with your down payment? Florida has programs that offer up to $50,000.

Ready to see your options?

See Exactly What Programs You Qualify for as a Self-Employed or 1099 Buyer