Stated Income Self Employed Loans

Click - Most Popular Loans

Stated Income Self Employed Loans, the housing market is going up, and that is not the only thing. The number of self-employed Americans is also on the rise with nearly 10 million Americans being self-employed according to the Small Business Association. For those self-employed and investors looking for a mortgage loan this is great news. The increased demand for mortgages has led to increased efforts made by mortgage lenders to capture the growing market of self-employed Americans looking for mortgages. Their response has been the stated income mortgage loans.

There are almost 9 million self-employed people in the United States, representing about 6 percent of the non-agricultural workers, according to the U.S. Bureau of Labor Statistics. Many of these people earn a good living but find it hard to qualify for home loans. Borrowers typically have to provide two years’ worth of tax returns, which often don’t accurately reflect the take-home pay of self-employed people. A flexible schedule and a cubicle-less existence. But one financial benefit — tax write-offs — morphs into an ugly disadvantage when self-employed workers try to get a mortgage. It’s not impossible to get a mortgage when self-employed, but it definitely requires advanced planning or stepping outside of conventional financing. We specialize in self employed home loans.