Mortgages for Self-employed 

Being self-employed is part of the American dream for millions of Americans who open their own businesses every year. Another key component of that American dream is homeownership. While owning and operating your own business gives you something to point to that highlights your own hard work, dedication and expertise, owning your own home provides you with something to show for all of that hard work, dedication and expertise. Honestly, the two go hand in hand.

Additionally, homeownership is a great way to increase your own net worth. Unfortunately, many lending institutions are hesitant to offer mortgages for self-employed individuals due to the nature of the economy and the documentation that they require. Fortunately, NonQMDirect.com doesn’t operate like that.

Why Self-Employed Applicants Get Denied

The first hurdle that self-employed mortgage applicants are faced with is documentation. For instance, most mortgage lenders require applicants to provide W2s dating back several years to be approved for a mortgage. These income tax-related papers are often impossible for self-employed applicants to produce since they generally come from an employer to an employee.

Additionally, lenders often focus heavily on an applicant’s debt-to-income ratio when considering the viability of a loan. For self-employed individuals, their debt is often higher because they’ve put their own money into the business that they’re operating. If a business is still in its early stages, the business owner may have considerable debt, disqualifying them in the eyes of traditional mortgage lenders.

Finally, business owners often have varying incomes. If your business has a good month, you may be able to take a sizable amount of money for yourself. However, if the next month sees a downturn in business, you may be forced to take significantly less money for yourself. Traditional lenders often look for consistency in income which doesn’t always behoove self-employed business owners. 

While traditional lenders don’t understand or consider the intricacies of self-employment, the team at NonQMDirect.com does. Our team of lending professionals will work with self-employed individuals to help them achieve their dreams of homeownership.

Simplified Mortgages for Real Estate Investors

While traditional lenders require to provide proof of income that goes back years with the same employer we understand that doing so isn’t always possible and take a non-traditional approach in making your dream come true.

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We Make it Easy

NonQMDirect.com makes it easy for self-employed individuals to apply for and receive the mortgage that they need. While many traditional mortgage lenders take a cookie-cutter approach to loan applications, we look at each application on its own. Documentation is simple, as self-employed applicants can apply for a loan with nothing more than a profit and loss statement from their business. 

Additionally, we don’t automatically disqualify applicants based on a single factor. Instead, we work with each mortgage applicant to help make their dreams of homeownership a reality. We understand that starting your own business can take a toll on your finances, including damaging your credit score. Since no one factor is automatically disqualifying, our team can circumvent some of the issues that other lenders get held upon.

If you’re self-employed and are ready to make an offer on your own home, let us help you. Our team of lending professionals is trained on how to take unconventional applications and turning them into approvals.