Since the meltdown of 2008, many self-employed borrowers looking for a mortgage have been out of luck. Common sense for the most part has disappeared from the mortgage market . Being self-employed, you of course want to take full advantage of the tax code in order to limit your tax liability. The problem is that this also lowers income available to qualify.
Recently, my company found a solution in the broker market and it’s been popular here in the Lake Norman, NC area. If you are self-employed you may be able to use your business or personal bank statements to qualify for a mortgage.
- Loan amounts up to 90% of the homes sales price available
- 2 years from short sale, bankruptcy or short sale
- Loan amounts up to $3,000,000
- 24 months of bank statements
- Use 100% of personal bank statement deposits OR 50% of business bank statements
If you are self-employed and have been unable to qualify for a mortgage and are looking for an out of the box solution please get in touch with me to learn more.