Financing Options for Self Employed Business Owners and Freelance Workers

Introduction to Mortgage Options for Self-Employed Individuals

Welcome everyone! We’re going to chat about some special mortgage options for people who work for themselves, like freelancers or business owners. This is great for anyone who might have a hard time getting a regular loan because their job situation is a bit different.

The Three Pillars

First off, Jordan will talk about the three important things banks look at when giving out loans: your income, your credit, and your assets. Sometimes, self-employed folks might not have all these in the usual way, which is why we need special types of loans called non-QM products.

Diving Into Mortgage Details

Now, let’s get into the nitty-gritty of these special loans. Jordan will explain how these are different from normal loans and why they might be better for some people.

Credit Requirements

For these special loans, you might need a slightly better credit score. For example, normally you might get a loan with a lower credit score, but for these, you might need a bit higher score.

Down Payments and Interest Rates

Depending on your credit, the amount of money you need to put down can change. If you have a better credit score, you might not need to put down as much money.

Explaining the Loan Options

There are a few different ways you can show you’re good for the money without the usual paperwork. Let’s look at some!

Income Verification Alternatives

If you’re self-employed, you might not have a regular paycheck to show, but you can use other things like your tax returns or bank statements to prove your income.

What If You Don’t Have a Regular Job?

There’s even a loan where you don’t need to show you have a job at all, as long as you have good credit and some money saved up.

Wrapping Up and Q&A

We’re almost done! If anyone has questions about all this, now’s the time to ask. We’re here to help make sense of it all and find the best option for you.

Contact Information and Further Help

If you need more help or have specific questions later, here’s how you can reach out to us. We’re always ready to help you understand your mortgage options better!

Thanks for joining us today! Remember, if you’re self-employed and looking for a home loan, there are special options just for you. Don’t hesitate to reach out and ask for help!

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