Bank Statement Loans in Boca Raton, FL: For Practice Owners, Agents and Business Owners

Short answer

A self-employed buyer in Boca Raton may qualify for a bank statement loan using 12 or 24 months of personal or business bank statements instead of tax returns, plus proof of the business such as a City of Boca Raton business tax receipt, a Palm Beach County receipt, an active Sunbiz record or a CPA letter. That matters in a city where the median single-family home sold for $1,410,000 in Q3 2026, well above the $832,750 conforming limit, per MIAMI REALTORS data as of October 2026. Bank statement loans are non-QM: terms vary by lender, and every loan is subject to credit approval.

Who uses bank statement loans in Boca Raton

Boca Raton's self-employed borrowers skew professional: physicians, dentists and other practice owners, real estate agents and brokers, financial advisors and insurance agents, consultants, tech founders and owners of service businesses. Many earn well but show modest taxable income because they reinvest in equipment, pay themselves through an S corporation, or write off a new office. A bank statement loan looks at deposits instead.

Census QuickFacts, checked October 2026, shows the profile: an estimated 101,582 residents in July 2025, a median household income of $106,273 (2020-2024), and 61.8% of adults with a bachelor's degree or higher. The city's 2026 tax brochure lists an average daily population of 165,084, far above its resident count, because Boca is a place people commute into for work. Palm Beach County as a whole had 261,006 nonemployer establishments in 2024, businesses with no payroll, versus 55,803 employer establishments in 2023.

The detailed math (eligible deposits, removing transfers, a full worked example) is in our guide on how bank statement income is calculated, and every self-employed path is compared in our self-employed mortgage guide.

This is not stated income. On a primary home, the federal ability-to-repay rule still requires the lender to verify income from the statements and review your assets, credit and debts.

Boca Raton prices and loan size in Q3 2026

From the Florida Realtors data that MIAMI REALTORS publishes by city, as of October 2026, for the City of Boca Raton in Q3 2026:

• Single-family homes: 244 closed sales, median price $1,410,000 (up 24.8% from a year earlier), 26 median days to contract, 3.4 months of supply. 147 sales, about 60%, were cash.
• Condos and townhouses: 171 closed sales, median price $569,000, 79 median days to contract, 7.4 months of supply. 114 sales, about two out of three, were cash.

These figures cover the incorporated city. Many "Boca" addresses west of the city are unincorporated Palm Beach County, with different taxes and no city business receipt.

Loan size is the big issue here. The 2026 conforming limit for a one-unit home is $832,750 (FHFA). At the median single-family price, a buyer putting 20% down borrows about $1,128,000, which is jumbo territory. Bank statement loans are non-QM and not bound by the conforming limit; each lender sets its own maximum loan amount, and larger loans usually need more down payment, more reserves and stronger credit. Compare with our Boca Raton jumbo loan page if your tax returns can carry a full-documentation jumbo.

Single-family homes moved in a median of 26 days, so sellers there expect a clean, fast offer. Get your income reviewed before you tour. On condos, supply is higher and the HOA dues count in your debt-to-income ratio; the building also has to pass the lender's review.

Medical practices, agents and owners: how the statements are read

The lender averages eligible deposits over 12 or 24 months. Which period and which account help you depends on how your money moves.

• Practice owners: insurance reimbursements and patient payments land in the business account, and payroll, rent, equipment leases and malpractice premiums go out. On business statements the lender applies an expense factor, and how it is set varies by lender: one fixed percentage, a table by type of business, or a lower ratio documented by your CPA. A high-overhead practice and a low-overhead consulting firm should not be treated alike, so lender choice matters. If the practice pays you a steady owner's draw, your personal statements may give a cleaner picture, since many lenders count those deposits without an expense deduction.
• New or growing practice: if the latest year is much stronger, 12 months may qualify you for more. Example only: eligible deposits of $300,000 last year and $420,000 this year average $30,000 a month over 24 months, but $35,000 over the latest 12.
• Real estate agents and brokers: commissions come in lumps, and a quiet quarter is normal. 24 months usually shows a fairer average.
• Multiple owners: if you own part of the business, lenders typically count only your share of business deposits, and want proof of your percentage from Sunbiz, the operating agreement or a CPA letter.

Send every page of every statement in the bank's PDF. Deposits that are not business income (loans, transfers between your accounts, a refund, proceeds from selling an asset) are removed, and large unusual deposits need a paper trail.

Proving the business: Boca Raton, Palm Beach County and Sunbiz

As of October 2026, these records do most of the work of showing the business is real and active:

• City of Boca Raton Business Tax Receipt and Certificate of Use. Required for each business location in the city. Each licensed professional at a location needs one, while a real estate broker needs only one per location. Receipts run October 1 to September 30, renewal opens July 1, and renewing after September 30 adds penalties. A new application can involve a $30 application fee, $105 for the receipt, $50 zoning review and $45 for each code, fire and utility inspection, and may ask for professional licenses, a signed lease and your Sunbiz entity page. Physicians may be asked for a supervising physician letter where it applies.
• Palm Beach County local business tax receipt. Required even for one-person and home-based businesses. In the city, you get city zoning approval first and the city signs off on the county application. Renewals run July 1 to September 30; late penalties start at 10% on October 1 and reach 25% plus a $10 fee by January 1, and an extra $250 fine can apply from February 1.
• Sunbiz. Your entity must show active. The 2026 annual report cost $138.75 for an LLC or $150 for a profit corporation, with a $400 late fee after May 1. Entities that did not file by September 18, 2026 were administratively dissolved on September 25, 2026, so check your status now.
• CPA or tax preparer letter and professional license. A signed letter confirming how long you have been self-employed and your ownership share. For doctors, dentists, agents and other licensed professionals, a current state license supports the same story.

Taxes and closing costs to budget

• Property tax: the City of Boca Raton's 2026 Taxes Explained brochure lists a total of 16.9090 mills: school board 6.2870, Palm Beach County 4.5210, City of Boca Raton 3.6639, Greater Boca Raton Beach & Park District 1.0331, Health Care District 0.6561, Children's Services Council 0.4908, South Florida Water Management District 0.2301 and inland navigation 0.0270. Example only: about $16,909 a year on $1,000,000 of taxable value, before any exemption.
• Florida mortgage taxes: documentary stamp tax of $0.35 per $100 on the note and a one-time intangible tax of 2 mills. Example only: on a $1,128,000 loan, that is $3,948 plus $2,256.
• Reserves: on larger non-QM loans, lenders typically want more months of payments in the bank after closing. The exact requirement varies by lender.

How we build a Boca Raton bank statement file

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018, with access to 100+ lenders, conventional and non-QM. For a Boca file we:

• Run your income on 12 and 24 months, personal and business statements, and pick the version that qualifies you for the most.
• Shop the expense factor for your type of practice or business and the maximum loan amount for your price range.
• Check your city and county receipts, Sunbiz record and professional license before the application.
• Compare against a P&L loan prepared by your CPA, and against a full-documentation jumbo if your returns support it.

Rates vary daily; call 305-425-1990 for today's pricing, in English or Spanish. QMS Lending, NMLS #1781090; Michael Fernandez, NMLS #1491775, President; 4.9 stars across 200+ Google reviews. You may qualify; subject to credit approval and property eligibility. Equal Housing Opportunity. See our Boca Raton mortgage broker page.