Seriously! Is there anybody who still thinks the self-employed have it easy? You know, like the song says, “they see you havin’ fun just a-lyin’ in the sun?” Those of us who are self-employed or work with the self-employed know otherwise, and you could argue that owners of businesses, large and small, spend as much or more of their time taking care of business than those getting a paycheck from someone else. None of this ‘work from home in my pajamas’ stuff for the majority — that’s for sure.
So why does the mortgage industry make it so tough on the self-employed? Some of the reasons can certainly be viewed as valid but others rea just legacy guidelines that really don’t make much sense anymore, but in the this short video we’ll cover:
- Who do lenders consider to be self-employed?
- What types of business entities apply to the self-employed?
- What documentation do the self-employed need when they apply for a loan?
While we can’t spare the business owner some additional work to get a great home loan, we can help them understand and prepare for what the mortgage industry will throw at them. So, let’s learn how to rock getting a mortgage if you’re self-employed!
SVP of Mortgage Lending
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960
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