If you are self-employed and hoping to purchase, or possibly refinance a home loan, we have several mortgage options to here.

Many of the mortgage programs for self-employed individuals have different criteria when it comes to underwriting, but will still give you many of the same benefits of a traditional mortgage. Business owners can still obtain a 30 year mortgage with a fixed interest rate, and purchase with a moderate down payment.

Some of the differences are that self-employed home loans can require a stronger credit score and possibly a bit more of a down payment when compared to a conventional home loan.

The advantages of self-employed home loans are that we do not need any tax returns. Many business owners do not have adequate tax returns. We can help in both situations where a business owner does show sufficient income on their taxes, or has good cash flow, but may have too many deductions on his tax returns for a traditional mortgage. That's where the light bulb goes off and underwriting can still approve a home loan for a business owner without tax returns, but rather by looking at other documents.

These documents could be bank statements or possible a profit and loss statement for the business. If you're a contractor being paid as a 1099, we have options for you as well.

The great news is that there are options for entrepreneurs, business owners, partners in a corporation, etc who would like to purchase a home. The programs can also be utilized to help take funds out from an existing property. Some business owners request a cash out refinance for their business, to use for a down payment on another property or pay off other liabilities they may have.

Reach out to learn more about business owner home loans to help you.