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Self-Employed Mortgages

Being self employed or working on 100% commission doesn’t mean that buying a house or getting a home mortgage loan are out of the question. There are several products and mortgages for self employed business owner to facilitate the mortgage process.

Self declared or stated income mortgages allow business owners to use income that is higher than what their net income shows or reports. Stated income mortgages arose from recognition by lenders that self employed people write off as many expenses as possible to avoid tax and it negatively affects their reported income. Generally, stated income and self employed mortgages allow applicants to report income that is higher than their net income, so long as it is reasonable within the industry. This stated income is often a better indication of earning power than what the company financials show on the bottom line.

Mortgages for self employed applicants are attainable if you are a sole proprietor or if you are incorporated. Stated income mortgages are even available to you if you have been self employed for only a short time, providing you have experience in the industry your company is in. For example, if you worked at an accounting firm for 5 years but have only had your own business for a couple of months, you can still apply for self employed mortgages. There are self employed mortgage options available even if you are self employed with bad credit.

Nathan Zacharias has access to lenders that require less documentation and income verification for self employed mortgage applicants; this makes working with Nathan a preferable choice when looking for stated income or self employed mortgages. Because these lenders want your business there are still great interest rate options available and with as little as 5% down payment. To take it one step further stated income mortgages are also available on revenue properties as well, helping you self employed individuals add to their real estate portfolio and build equity.

Self Employed Mortgages | Stated Income Mortgages | Mortgages for Self Employed
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