Let’s be real, qualifying for a mortgage as a self-employed individual can be tricky, but it’s totally doable with the right strategies ( and me in your corner 😉). Here’s a quick breakdown:
Special Programs & Loan Options:
🔸 Bank Statement Loans: Qualify with your bank statements instead of traditional income docs.
🔸 Non-QM Loans: Flexible guidelines for income verification and credit history.
🔸Freddie Mac Home Possible® & Fannie Mae HomeReady®: Ideal for low- to moderate-income borrowers with alternative credit histories and reduced PMI.
Ways to Save on Interest Rates & Down Payments:
🔸 Shop Around: Different lenders = different rates. Check them all out!
🔸 Mortgage Points: Pay upfront to lower your interest rate.
🔸 Grants & Assistance Programs: Look for local down payment assistance or grants.
🔸 Co-Signing: A co-signer can help get better terms, but be mindful of the risks.
My advice to you:
🔸 Separate Business & Personal Finances: Clear records make the process smoother.
🔸 Be Organized: Keep your financial docs (tax returns, profit and loss statements, bank statements) well-prepared.
Don’t let your unique situation hold you back. Comment the word “READY” if you’re serious about giving it a shot, and I’ll take it from there 😉
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Visit www.nicolespellmangroup.com for your daily real estate tips.
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