Self-employed borrowers have often had a tougher time obtaining mortgage financing under the traditional full documentation program requirements. Today, for self-employed borrowers that are the sole owners or partial owners of their business or for 1099 workers, we now have a very flexible bank statement program to help them obtain a mortgage loan at competitive terms. Use your bank statements or 1099 earnings statements to qualify with relative ease instead of your Federal tax returns. This particular program provides flexibility in qualifying and also flexibility with major credit events with reestablished and/or reaffirmed credit over the past two years.
This program is a terrific tool for self-employed business owners and eligible 1099 workers when it comes to qualifying for a loan. Please contact us directly for further details and to see if this option is a good fit for your financing needs. Licensed in Virginia, Maryland, Florida and Pennsylvania.
* Non QM Loan category.
See our blog for a great success story of a recent Self-Employed Borrower.