Your Tax Return Says One Thing.
Your Bank Account Says Another.
Self-employed Florida homeowners can access their home equity — without W-2s or tax returns that don’t reflect what you actually earn. We qualify you on real cash flow.
Get My Free Equity Review Call 407-630-9766Why Self-Employed Borrowers Get Stuck — and How to Get Unstuck
You run a successful business. Your bank account reflects real income. But when you walked into a traditional bank and handed over your tax returns, you got denied — because your deductions make your reported income look smaller than your actual cash flow.
This is one of the most frustrating and common situations self-employed homeowners face. You’ve built real equity in your home. You have a profitable business. And yet, conventional mortgage underwriting treats you like you don’t qualify.
At Jhenesis Mortgage, we work with non-QM and bank statement lenders who evaluate what you actually earn — not what your accountant minimized on paper. That means a cash-out refinance is very much within reach.
Get a free, no-obligation equity review — tailored to self-employed borrowers. No W-2 needed to start the conversation.
Start My Free ReviewWhat Is a Bank Statement Cash-Out Refinance?
A bank statement loan is a type of non-QM (non-qualified mortgage) that replaces tax returns with 12–24 months of personal or business bank statements as the primary income documentation. Lenders calculate your average monthly deposits — then apply an expense factor — to determine qualifying income.
When used for a cash-out refinance, the goal is to replace your existing mortgage with a new, larger loan and receive the difference in cash. You keep your home. You keep the equity you haven’t accessed. And you gain liquidity.
What Self-Employed Borrowers Use the Cash For
Pay Off High-Interest Debt
Replace credit card balances and business lines of credit carrying 20%+ interest with a single, lower-rate mortgage payment.
Reinvest in Your Business
Equipment, inventory, hiring, marketing — your home equity can fund what a business loan won’t.
Buy an Investment Property
Use equity as a down payment on a rental property. Let that property generate income while your home builds more equity.
Create a Cash Reserve
Self-employment income can fluctuate. A liquidity cushion from your equity gives you stability between high and low revenue months.
How the Self-Employed Cash-Out Refinance Process Works
The process is straightforward — but the document requirements differ from conventional loans. Here is what to expect:
Step 1 — Free Equity and Income Review
Before anything else, we review your home’s current estimated value, your existing mortgage balance, and your bank statements to assess how much equity you can realistically access. This conversation is free and has no impact on your credit.
Step 2 — Income Qualification Using Bank Statements
We collect 12–24 months of personal or business bank statements. We calculate average monthly deposits, then apply the lender’s expense factor (typically 50–75% of gross deposits for business accounts, up to 100% for personal accounts). The result is your qualifying income for underwriting purposes.
Step 3 — Appraisal and Loan-to-Value Assessment
An independent appraiser determines your home’s current market value. Most non-QM lenders allow up to 80% loan-to-value on a cash-out refinance — meaning if your home is worth $500,000, you can carry up to $400,000 in total mortgage debt and receive the difference from your current balance in cash.
Step 4 — Underwriting and Approval
Non-QM underwriting is more manual and judgment-based than conventional underwriting. Having a broker who understands which lenders are most favorable to specific self-employment structures — sole proprietors, LLCs, S-corps — makes a significant difference in approval outcomes and rate.
Step 5 — Closing and Cash Receipt
Once approved, you sign closing documents and typically receive your cash proceeds within three business days after closing (standard federal rescission period for owner-occupied properties).
See what your self-employment income can qualify for.
No tax returns required to start. Just a 15-minute conversation.
Schedule My Free ConsultationDocuments Typically Required
Every lender varies slightly, but here is a general checklist for a self-employed cash-out refinance through a non-QM or bank statement program:
- 12–24 months of personal or business bank statements
- CPA-prepared profit and loss statement (some lenders require this; others do not)
- Proof of self-employment or business ownership (business license, CPA letter, or DBA registration)
- Government-issued photo ID
- Current mortgage statement showing balance and payment history
- Property insurance documentation
- Credit authorization (a soft pull is available during initial review)
We will tell you exactly which documents your specific lender requires before you gather anything. No guesswork.
🗂 Free Download: Self-Employed Borrower Document Checklist
Not sure what to gather? Download our one-page document checklist specifically for self-employed borrowers pursuing a cash-out refinance in Florida. Know exactly what to have ready before your first call.
Download Free ChecklistWho Qualifies for a Self-Employed Cash-Out Refinance in Florida?
While every application is reviewed individually, strong candidates typically share these characteristics:
- Self-employed for a minimum of two years (some lenders accept one year)
- Credit score of 620 or above (higher scores unlock better rates and LTV options)
- Consistent or growing bank deposit history over 12–24 months
- At least 20% equity remaining in the property after the cash-out (80% LTV max for most programs)
- Property in Florida — primary residence, second home, or investment property
You do not need to show a profit on your tax return. The entire point of a bank statement program is to evaluate actual deposits, not reported income after deductions.
Frequently Asked Questions
Straight answers about cash-out refinancing for Florida’s self-employed homeowners.