So am I!
What does this mean for you? I have a unique understanding of the challenges involved in applying for a mortgage as a self-employed entrepreneur. Don’t worry though. Although there are challenges, I am here to guide you through them.
Self-employed applicants typically have a harder time proving their income. The benefits of being able to write down many expenses are great but at the end of the day people that are self-employed encounter instances where only a nominal amount of income can be verified.
Lenders and insurers have created a “stated income” program. for those finding themselves in this very position. The stated income portion that is submitted to a lender must be reasonable based on the entrepreneur’s industry, the length of operation, and the type of business.
If you believe you fit into this category or have any other questions about applying for a mortgage as an entrepreneur, then please contact me.