SELF EMPLOYED LOANS
If you’re self-employed, there are a number of loan programs that might help you buy a home even if you’ve had problems in the past.
CONVENTIONAL LOANS
We have a new conventional mortgage program that is specifically for self-employed borrowers who want to borrow within the conventional loan limits. What makes it different is that it only requires one year’s worth of tax returns. This is new and it’s HUGE.
Traditionally…you would have been asked to provide the last two years’ worth of tax returns which has been a big challenge for many self-employed folks…especially if their income has been inconsistent.
While this program may not help everyone, we are projecting that it will help 30% more business owners than prior loan programs. Again, that’s huge!
ASSET BASED Loans
In addition to reduced documentation requirements on some conventional loans, we offer a loan program that looks at assets as income. This is unique in the marketplace and works well for borrowers who have significant assets (typically $350,000 or more) but don’t show a lot of income on their tax returns.
FHA / VA / USDA/RD
In addition to the programs mentioned above, we offer minimum down payment options and government-insured mortgages through FHA, VA, and USDA rural development. These programs are considered “full documentation” loans and look at a 2 year average of your self-employed income based on your tax returns.