Self Employed Home Loans
Self-employed home loans, also known as "non-QM loans," are a type of mortgage designed for self-employed borrowers who may not meet the traditional lending requirements. These loans take into account a borrower's income, which may fluctuate and can be difficult to document. Self-employed home loans typically require a larger down payment and a higher credit score than traditional loans, but they offer more flexible qualification requirements.
Self-employed borrowers may also need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns. Overall, self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
Self Employed Loan Characteristics
1) Self-employed home loans are designed for borrowers who are self-employed or have irregular income
2) Self-employed home loans typically require a larger down payment and higher credit score than traditional loans
3) Borrowers may need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns
4) These loans offer more flexible qualification requirements than traditional loans
5) Self-employed home loans may have higher interest rates compared to traditional loans
6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property
7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
5) Self-employed home loans may have higher interest rates compared to traditional loans
6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property
7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
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Copyright ©2021 | The LaTisha Elliott Team | 2073738
Licensed to do business in..
This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply.
VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.
Corporate | NMLS ID NMLS# 1660690
Corporate Address : 5559 S Sossaman Rd, Bldg 1 Ste 101 Mesa, AZ 85212
https://nexamortgage.com/
Copyright ©2021 | The LaTisha Elliott Team
Licensed to Do Business in GA
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | NEXA Mortgage
Corporate | NMLS ID NMLS# 1660690
Corporate Address : 5559 S Sossaman Rd, Bldg 1 Ste 101 Mesa, AZ 85212
Corporate NMLS NMLS# 1660690 | Company Website: https://nexamortgage.com/