Self Employment Loans
Are you self employed? Have you experienced any difficulties in obtaining a home loan due to your self employment? Well, you should be happy to know that there are numerous mortgage lenders that offer home loan programs to self employed borrowers.
There are a variety of different types of loan products available to the self employed. The most popular mortgages for self employed borrowers are conventional and FHA loans, as well as bank statement programs (which allow you to use your personal and/or business bank statements to verify income instead of tax returns).
If you can use your tax returns, you may qualify for a conventional or FHA loan for many business owners, contractors, and other types of self employed professionals, using tax returns may not always be an option. For these individuals, bank statement loans may be the best – and only – option to get a mortgage.
Do you have 1 year of tax returns, but not 2? You may be eligible for a 1 year tax return mortgage.