There are a lot of benefits to
being self-employed and running your
own business. However, getting a mortgage
is not always one of them. Lenders
like to see documentation that shows
a reasonable history of steady income,
and a good indication that the steady
income will continue. This is compounded
by the fact that the self-employed
tend to 'shelter' their income as
much as possible to avoid taxation.
This creates much lower income on
your tax returns, which would probably
get you turned down for your loan.
We have found special programs that
allow us
to lend to you without proving
your income.
As a self-employed professional you
deserve the same consideration as
W-2 wage earners, and we at Freedmont Mortgage® are committed to making that
happen.
Our most popular self employed programs:
- Quick
& Simple- If you can
prove you have been self employed
for 2 years you may qualify for
the same rates W-2 wage earners
receive.
- 12 to
24 month Bank Statement-
If you can show a steady flow of
deposits over the past 12 to 24
months into a bank account we may
be able to use this average as your
income.
- The Nothing
Loan - Finally, a loan which
only considers your credit history!
This loan is for the individual
who may not be required to be licensed
and has a difficulty proving their
self-employment.
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