Are you self-employed? Have you encountered difficulties in obtaining a home loan because of your self-employment? Well, you should be happy to know there are many mortgage lenders and home loan programs that provide independent borrowers.
There are a variety of different types of loan products available to the self-employed. Popular mortgages for most borrowers are independent conventional loans and FHA bank statements programs (which allow you to use your personal and/or business bank declarations to check income instead of income tax returns).
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You can qualify for a conventional loan or FHA if you can use your tax returns. For many business owners, entrepreneurs and other professionals, craftsmen, using tax returns may not at all times be a good option.
For these people, bank statements loans can be the best – and only – option to get a mortgage. There are many lenders who provide FHA home loans for themselves.
Selecting the right professional loan officer is an important decision. You are about to risk money and the mental sanity of your family that you relocate across the country to your new home, and you have much to risk.
Do your due diligence: ask tough questions, study the mortgage professional line, and make sure he is an expert. If you are not sure, ask for the names and numbers of the last three mortgages professional has worked with. If mortgage professionals ridges, it is not the expert you need. Make and keep looking.